“Cloud computing is slowly infiltrating the financial industry, and though some of the more cutting-edge institutions have already adopted a few FinTech advances, the modernisations in store for the sector are far greater. Shrouded in conservative and outmoded practices, banks could do with a kick in the pants, and see just what technology could be doing for them. Progressive startups and financial entrepreneurs are already leading the way, and the results are good.
Top Fintech investors include some of the traditional financial institutions we’ve known for decades. JP Morgan Chase & Co.’s Center for Financial Services Innovation is a $30 million initiative that supports FinTech startups, and Goldman Sachs has invested $50 million in Circle Internet Financial, as well as being the first of the banking giants to invest in crypto-current. Barclays has a $150 million investment fund with an accelerator program managed by Techstars and has created its own platform allowing access to innovative digital products.”