The rise of fintech has been a wake up call for legacy financial institutions. Consumers have wanted cheaper and more convenient banking solutions for years, yet traditional banks have historically lagged behind in technological development. Regulatory restrictions in the finance industry meant established banks rarely had to worry about new competition. Because of this, for over a century the cost of financial services remained consistently expensive. Q3 2021 hedge fund letters, conferences and more Banks can no longer downplay the importance of fintech or rely on their reputation alone to re…

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