Using big data from advanced technology, unbundled business, limited regulatory burden, FinTech has been evolving to substitute the function of banks. For example one of the online transportation startups, provides its users through its own wallet with a bundled function of payment.
However, bank as a financial institution under both national and international regulatory is a complex business which nowadays is not only takes role in funding and lending but also offers both wholesale and retail financial solution. For instance, bank rapidly develop their innovation for wholesale industry by providing a sector solution for port thus it helps reducing dwelling time. It shows that bank is a bundled business, which is interwoven with various units and is not as lean as FinTech. To sum up, the agile innovation brought by FinTech do not replace banks' function as a whole. These innovations will grab bank's market share but if a collaboration can be a win win solution, bank and FinTech can be friends instead of foe.
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