Financial Post: Prepaid cards provide a model for partnership between fintech companies and banks

Financial Post: Prepaid cards provide a model for partnership between fintech companies and banks

 

In tandem with many other industries, the global banking system is experiencing a digital disruption. The mass adoption of technology has led to a digital revolution in financial services, as well as the rapid rise of the fintech industry, and banks are no longer consumers’ only option for lending, payments, savings vehicles and remittances across borders. Globally, investment in fintech ventures tripled to US$12.21 billion in 2014 and the curve is continuing upward.

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