CAN TRADITIONAL BANKS COMPETE WITH AI AND FINTECH DISRUPTORS?

In a lively discussion, experts explore whether traditional banks can compete with AI and FinTech disruptors. They note that no FinTech company has yet entered the global top 250 banks by assets, despite significant investment. The conversation highlights the challenges incumbent banks face with legacy technology, while challengers focus on understanding banking fundamentals. Some argue that FinTechs are there to be acquired by banks, emphasizing the importance of regulation. The discussion also touches on the potential for partnerships between banks and FinTechs, with banks leveraging technology to offer personalized solutions. The panelists agree that the future of banking involves a blend of traditional and technological approaches.