“Not better, not more, but different”
A good browser is not the only thing needed to make fintech developments fly. Collaboration between established names and start-ups is key , says Benoit Legrand , Global Head of Fintech at ING. The bank has no fewer than 94 partnerships with start-ups, which complement the bank's services. Take Kabbage, an online lending company, for example. Legrand: "A self-employed entrepreneur does not want to waste time visiting the bank. He wants to be able to take out a loan online from his attic on a Sunday afternoon."
The discussion should not be about whether hong kong reverse phone lookup traditional banks will lose out to fintech start-ups or vice versa. They should benefit from each other to ultimately make a difference for the customer. Korz said aptly: “It should not be better, not more, but above all different.”
Bunq and Budgently win the Fintech Impact Award – photo: Joost Weddepohl
This will be clarified again at the award ceremony of the Fintech Impact Award . The jury will award the prize to two of the eight nominees: new bank Bunq and the bank-independent personal finance app Budgently. They call on the two to work together, because this way they can really make a difference for customers.
Bunq, which also received the public award, is certainly no stranger to collaboration. For example, you can obtain the code of their public API via their website and collaborate with Bunq on improvements. These are startups to keep an eye on!
Technically everything is possible, but there is a lack of context and expertise
All these new developments sound great, as long as they actually add value for the customer. But do the advantages always outweigh the disadvantages?
Michiel Schipper , Managing Director of software company Topicus, knows that machine learning and artificial intelligence (AI) already beat humans when it comes to computing power and predictability.