As fintech continues to grow, there are some concerns certain obstacles are holding it back from reaching its full potential. According to Jonathan Larsen, Chief Innovation Officer at Ping An Insurance (Group) Co. of China Ltd., the problem is “partly customers, partly technology, and partly regulators.” While banks have proven they have the capability to move the industry forward through investments in the right technologies like blockchain and fintech software, collaboration still remains a hurdle for many companies. And this year, some of the most prominent universities in the country will be offering courses and specializations for those interested in pursing a career in fintech. Read our roundup for the latest in fintech news.
What’s Holding Back Fintech?
There is no doubt fintech is on the rise, but some believe it’s not growing to its full potential for a number of reasons. According to Jonathan Larsen, Chief Innovation Officer at Ping An Insurance (Group) Co. of China Ltd., “This technology transformation is going to happen”, but it’s not going to happen overnight. He continues, “It’s going to happen in different markets and in different areas of the business.” Read the full story here.
Banks Can Drive the Fintech Revolution Forward
The fintech revolution is here and it’s inescapable, but as fintech startups are still struggling to become profitable, banks are here to stay with their deep pockets and valuable relationships, which is why it would be in their best interest to work together. Banks have the capability to move the fintech revolution forward through investments in blockchain and fintech software. Read the full story here.
Collaboration and Blockchain Adoption
According to a recent study conducted by the software development firm Cognizant, collaboration is a significant obstacle to mainstream blockchain adoption. While 47% of respondents believe in the importance of collaboration, many see obstacles with internal conflicts, interoperability issues, and reluctance to share use case data with competitors. Read the full story here.
Colleges Face Challenges with Fintech Course Offerings
As fintech continues to grow, colleges across the country are realizing its value and many prominent universities are offering fintech courses, and even specializations for those interested in pursuing one. There have been some challenges though with exactly what to teach when it comes to fintech and finding the right instructors to teach the courses. Read the full story here.
