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Half Of The World’s Banks Set To Fall By The Digital Wayside – BBVA

FINEXTRA: Up to half of the world’s banks will disappear through the cracks opened up by digital disruption of the industry, forecasts BBVA chairman and CEO Francisco Gonzalez.

Speaking to the press as the bank reported a 25% uplift in profits to EUR2.62 billion, Gonzalez said that competition from fintech startups and the entry into banking by any one of a number of big tech computer companies would have drastic consequences for banks which had failed to adjust to the digital revolution sweeping the industry.

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Analytics, Global trends

February 4, 2015

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First Things First, What Is Fintech?

THE GUARDIAN:  Simply put, it’s “the application of technology in financial services to create disruptive business models and inclusive products,” says EY’s Imran Gulamhuseinwala. One example is M-Pesa, a mobile-phone based payments network serving millions of ‘unbanked’ in Kenya.

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Analytics, Global trends

February 3, 2015