finance

A version of this article, which was co-written with Paul Breloff, originally appeared in American Banker on January 5th, 2016. At the start of 2015, there was a sense that Silicon Valley would soon rule the world of finance and that banks risked irrelevance. A year later, a more balanced picture has emerged. In the January 2015 Ideas Issue of American Banker Magazine, we described in an article titled “‘New

In the last couple of years, the FinTech space has seen an explosion of exciting new technology-enabled offerings. Rather than being second-class “alternatives” to traditional banks and financial institutions, they’re rapidly becoming credible competitors due to their high quality and low cost. These new companies often take a “customer-back” approach, incorporating lessons from design, behavioral economics and extensive customer feedback. In the article below, which we’ve re-posted from American Banker