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Wakeup FinTech Startups: Banks Are Becoming FinTech Addicts Too

Have you ever tried to compare a bank with Macy's or a shopping mall and a FinTech startup with a Zara outlet? You may wonder what this comparison is about. Even though FinTech startups are emerging rapidly, trying to disrupt the industry and serving niche audiences, banks have been a one stop market like Macy’s for common people. Even if FinTech peer-to-peer lending startups like SoFi specialize in offering student loans, banks also offer student loans, personal loans, mortgage loans and every other loans one can think of. Even as FinTech P2P payments apps like Venmo offer instant money transfer, banks are moving towards similar services enabled by PopMoney, ClearXchange and other P2P solution ...

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