Most banks do not compete with FINTECH companies, who will be able to offer customers access to a variety of banking instruments, including the possibility of cryptocurrency trading. This was stated by the founder of the London FINTECH start-up Revolut Nicholas Storonsky in an interview Youtube-project “Russian rules!”.
According to Starovskogo, large banks are not able to compete with modern financial technological developments and 10-15 years in the banking market there will be several global players.
“The functionality will be very similar to the Revolut app that provides access to Bank accounts and various financial products such as insurance, credit, mortgage, cryptocurrency, trading and wealth-management”, — he said.
Speaking about the problems of the banking system, Storonsky in the first place, pointed to the lack of talented people.
“Banks are good people, but they are looking in the wrong direction. Among them there are no good programmers, not good designers, they don’t understand how to do PR. It’s just big corporations with a bunch of tellers notorious bureaucratic structure. All Bank top management does not understand what is happening. I with many of them talking and they seem stuck in the 19th century — I don’t know where to go and how to build a modern technology company”, — said the businessman
An important role is also played by the inability of the Bank to take risks for fear of their money and reputation.
“The top managers of different risk-profile, it is important not to make a mistake, and it’s important for me to win. They have a permanent stable business that they will protect and will never take the risk to do something 2-3 times better. Not raising rates, they will lose”, — summed up Mykola storonskiy.
We will remind, earlier in April, the international company TSI Analytics has launched on its Youtube channel built in the format of discussion a new analytical talk show about cryptocurrency.