State of Fintech Update from Wall Street

Note from the Publisher:  As we write about fintech far and wide, from startups to the the largest financial institutions in the world, it’s still gratifying to see how adoption is gaining widespread acceptance.  CNBC has penned a piece about this and they’ve noted that many of the big boys, who were not in this at first, have figured out they can up their fintech game on their own, without partnering with a newbie, and one such example is Goldman Sachs.  In other cases, consortiums are being formed under entities such as R3, which is working with multiple entities on a unified blockchain initiative.  Stay on top of this folks, this trend is moving quickly. 

“Marcus, Zelle and Concord.

They’re not names for Silicon Valley start-ups, nor is this list drawn from a pre-K register in Brooklyn’s Park Slope. This is what Wall Street has been doing to defend itself from the growing threat of financial technology, or fintech…………

Zelle, which, according to The Wall Street Journal, was conceived at least in part hoping to invoke the imagery of a speedy gazelle, is the new name for a payments platform between major Wall Street banks allowing users to transmit money between phones.”

Read Full Article at CNBC