Fintech and Traditional Banks: The Beginning of a Beautiful Friendship

Today’s technology-led companies are intent on disrupting industry after industry, abolish decades of profitable business models and force cash cows out of business. Competition with Netflix busted Blockbuster. Borders bombed as consumers move online to buy books from Amazon. And Tower Records fell to the basement when they couldn’t compete with iTunes.

When it comes to FinTech, Jamie Dimon, Chairman and CEO of JP Morgan Chase, recently stated that Hundreds of startups with a lot of brains and money are working on various alternatives to traditional banking. Visa’s CEO also just threatened to go after PayPal in ways that people have never seen before.

Many people believe, including myself, that FinTech is just scratching the surface of what is possible. In the US, FinTech investment

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