The world of finance
has seen the rise of innovative systems like direct operator billing and
digital coins. While this has definite advantages for customers, the increasing
popularity of new payment solutions
is something to worry about for traditional banks. They have to deal with
competitors such as fintech companies and the likes. As such,
conventional financial institutions must re-evaluate how to make their services
compatible in a world that is banking on the digital. As experts advanced, “the
responsibility to respond to virtual currencies and fintech
solutions lies with central banks”.
Photo credit: geralt from Pixabay
Banks have to innovate
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