The New Normal for Banking and Fintech

In his weekly Forbes column Ron Shevlin assesses what has changed in fintech over the past few months and what this means for the future; he talks about the death of fintech fetishism where people had an unrealistic view on the impact of technology on banking and finance; while banks touted fintech partnerships many were really just window dressing and did not help with any digital transformation; what the crisis has brought is a new dose of fintech realism and the end of fintech experimentation; for banks this means accelerating their investments in fintech and for fintechs this means less focus on number of customers and more on profitable customers; even with all the dislocation happening today Shevlin ends on an optimistic note saying the prospects for fintech startups has never been better. Forbes

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