Robinhood is Not Indicative of the Entire Fintech Industry

Yesterday, Robinhood reported another outage which comes after two outages the previous week; the markets remain volatile which has increased the amount of media attention; the first lawsuits against the company were filed last week and Robinhood has said that they would evaluate complaints on a case by case basis; they also offered a discount to users of $15; one of the bigger risks is to the fintech industry more broadly; Robinhood’s issues have the potential to give fintech a bad name and could harm the reputation of other fintech companies; hopefully Robinhood has learned from their recent problems, but it is a reminder to the rest of the fintech community that it is important to show that the products are not only superior to the offerings by traditional financial institutions but they are also robust and trustworthy. Lend Academy

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