Banks should act like big tech, in my opinion. Despite entering the space and encouraging innovation, big tech is on the same team as banks. Its companies like Google and Facebook that enable banking services in a way that the industry must adopt. For big tech companies, it’s not about moving money or payments, it’s about delivering services that are as frictionless as possible to increase the quality of the banking experience and exceed customer expectations.
Clayton Weir, Chief Strategy Officer and co-founder FISPAN feels banks shouldn't be worried and infact think more big tech.