Why Banks Should Not be Held Responsible for Slow Innovation Adoption

While often seen as dinosaurs of the financial services industry, banks have to bear the brunt of regulatory compliance which FinTech companies are often spared of. As we have seen, there are reasons why it is so hard to regulate FinTech. But due to the size, the financial and HR capabilities of banks and the responsibilities they have to their customers, they are required to cope with hostile regulatory environments in all countries.

There are at least seven national and 50 state regulators passing the legal compliance burden on the banking industry. Among those are F ...

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