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This is a fantastic idea! Wish it were here in the US. In some areas like fintech/banking it appears "developing" economies like India are light years ahead of
by rajup 4y ago
This is a fantastic idea! Wish it were here in the US. In some areas like fintech/banking it appears "developing" economies like India are light years ahead of us.
- toast0 4y agoThere are benefits to being late to market. The US also has close to 5000 banks and nearly as many credit unions, whereas most 'developing' economies have only a handful. Banks have to follow state and federal rules (sometimes both, sometimes only one or the other, depending on the rules and the corporate details). Centralization into only a few firms and maybe a single regulator makes it easier to have consistent features and requirements.