“We are not disrupting your world ... yet.
That's the message fintech players sent to investment bankers in a discussion in Hong Kong on Monday that brought the two worlds together.
Financial technology is already having a stark impact on the retail and commercial banking segments with the rise of mobile payments, internet-based finance and trade digitalisation. Banks could lose up to 60% of retail profits to nimble fintech firms by 2025, according to consultancy McKinsey Co.
The question of how and when fintech will turn its attention to the investment side defined in this instance as capital markets activities came under the...
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