Big banks are not feeling the FinTech heat (yet)

A few years ago Jamie Dimon was renowned for saying that bitcoin developers “are going to try and eat our lunch” and that silicon valley was coming to get the banks. Three years later, it’s not quite the case. The big banks are getting bigger, and the #FinTech community is nibbling … [Read More]

Summary… * Machine-Made


The big banks are getting bigger, and the #FinTech community is nibbling at the ankles and not biting much yet.
For example, I log into my big banks’ app three or four times a day to see if there have been any monies deposited from customers.
This would therefore imply that I use my big banks app four times as much as my #FinTech app, which is true; but I’m far more satisfied with my #FinTech app, as it alerts me to activities rather than me having to find out.
#FinTech apps push a lot of information to me because they’re intelligent; big bank apps force me to pull the information because they’re dumb.
Or that’s my experience of two of the most frequently used big bank apps.

Opinion… * Man-Made


People use their existing #Bank apps four times as much as their #FinTech apps; but they are far more satisfied with their FinTech app, as it alerts them to activities rather than them having to find out. #Trend

Source: Chris Skinner’S Blog