Fintech is good, but banks do it better

Letter # 71 | 18 January 2022

Tell me the first thing you bought from Amazon and when. You can check it on the Orders page. Now try doing that for your brick-and-mortar shop orders. Can you tell? Neither can they.

Disney’s desire to own its customers drove them to start Disney+. Ant Financial took PayPal’s model and successfully morphed it into an online lending and wealth platform.

Indian fintech is trying to emulate that. But as of now, they are coming up short. Traditional banks know their customers far better than fintech.

Read the article in Economic times here: Fintech: Fintech is great. But not big enough to break banks – The Economic Times

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