BLOCKCHAIN
“ The banking system we have is pretty similar to the one that was created by the Medici in the 13th century ”
Stephen Cecchetti , Rosen Family Chair in International Finance at Brandeis International Business School
40
O ver the past five years , the digital banking revolution has had a seismic impact on the relationship between customers and the institutions that handle their money . The rise of online banking – along with its accompanying wave of digital-only challenger banks – mobile payments and increasingly personalised money management tools have given birth to a fintech industry expected to reach an estimated value of more than
$ 305bn by 2023 . The driving force behind this sweeping digital transformation is the exponential growth of big data which , when twinned with cutting-edge AI and machine learning analytics , has created actionable insights that are leading financial institutions down a road towards a customer-centric , hyper-personalised financial future .
That being said , while fintech has enabled myriad new ways for us to buy
NOVEMBER 2019