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Is your argument that they don’t deal with finances or that they don’t use technology?
by thanatos_dem 8y ago
Is your argument that they don’t deal with finances or that they don’t use technology?
- shafyy 8y agoI think their point is that it's uncommon to call a legacy bank a FinTech company, although they use tech and are in finance.
- ian0 8y agoFintech is typically used to describe non-banks operating in the finance industry (and presumably using technology). Before this it was used to describe layering technology into banking. Its not used to describe actual banks. As they have a name already.
- OJFord 8y agoIt's a very jarring introduction - would you say "the financial technology firm Wells Fargo", or would you say "the bank Wells Fargo"?
- alexchamberlain 8y agoI just thought it was an interesting take; I don't think I'd call Barclays a Fintech myself, despite the fact they probably have a massive engineering effort and clearly being financial.