Ignoring Innovation & Disruption

Regardless of the traditional banking system being threatened by the sheer amount of innovation, a blind eye turns to the disturbance they are faced with. According to a recent Finextra article, those dividers come on as soon as individuals become decision makers in banking.

When looking at a financial institution’s board members, Generation X seems to be dominant everywhere we lookonline casino bitcoin faucet bitcoin casino with no deposit bonus These people make up the generation who does not like change all that much. Moreover, since things have been going well for multiple decades, there isn’t any point in changing a winning formula and bitcoin casino no deposit bonus 2015.

That may not be the case, although challenger banks are often touted to disrupt banking. As opposed to avoiding the pitfalls of their predecessors, the appeal of tamer business models lures in them. In fact, there’s a fantastic chance a portion of challenger banks will end up a different »flavor » of conventional banking, despite attempting to seem disruptive to the external world.

Bankers Lie At Every Turn

Bankers have a strong propensity to lie, or flip words in their own favor. Financial institutions are far less concerned with individual customers than they want to admitcryptogames app Independent Digital Banking Consultant Duena Blomstrom told the world, and witnessed the situation first hand:

When we say we are building disruptive new versions that will integrate money into bigger digital contexts, but we don’t have the backend technology to even begin to comprehend the information, we lie. When we understand as a human, that our needs are near to met with our cash holder in our interaction, but we spend no time seriously analyzing those needs and feelings but say we do, we lie.

Where blockchain technology in the sector is concerned, that statement seems to hold a lot of merit. Banks are researching technology that is Bitcoin to seem disruptive. But hardly any of time realize how the technology works or what it needs to yield benefits. Developing a blockchain from thin air will have no impact whatsoever, and it’s nothing more than another lie.

In the end, it is important for bankers and customers to keep the current status quo won’t hold. Change is coming, not or whether bankers enjoy it. Consumers are directing these modifications, and the technology is being created by programmers. The open standard, like the Bitcoin blockchain, is becoming the standard.

What are your thoughts on these revelations in the world of bankers? Tell us in the comments below!

Source: Finextra

Images courtesy of Shutterstock, Business 2 Community

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