Increasingly, core banking services no longer occur within the brick-and-mortar walls of a community’s bank. Financial services have broken out into mobile and online banking, with fintechs and neobanks competing with incumbent banks on their own turf. Banks should adapt to digital advances, but building customer trust is the make-it-or-break-it ingredient. Innovation will constantly change, but the need for relational trust between bank and customer will always remain the same.
There are times when no one wants to see history repeat itself, and that’s the case among today’s investors in technology stocks. Some fear that the dot-com bubble burst of 2000 may repeat itself 20 years later. Although some tech stocks may be overvalued, the flourishing Fourth Industrial Revolution displays no signs of running out of steam any time soon. Caution is advised but not panic.
Given the prevailing financial infrastructure that exists today, international transfers continue to remain costly, time-consuming and risky—and even more so when there is a need to exchange currency. Such transactions normally undergo a series of stages that invariably include the involvement of intermediary parties and the foreign-exchange market
Blockchain is moving beyond cryptocurrency exchange into the world’s most progressive stock exchanges, which are optimistic about the technology’s potential to cut cost, enhance speed and reduce risk. Before it revolutionizes stock markets as we know them, the decentralized digital-ledger technology faces a few obstacles, such as scalability and regulation, but those in the know are barely able to contain their excitement about its prospects.