-Bill Gates said many years ago that banks would become the 21st Century dinosaurs if they did not change. Jack Ma said if banks did not change, we would change them.
-Fintech, or Internet Banking as better known in China, has grown way ahead of people’s imagination and ahead of developed countries including the US. It has not just brought impact on traditional finance. Many believe that it represents the future of finance.
-How has Fintech fared after the initial, unregulated stage of barbaric growth?
-What is the traditional finance doing to adapt?
-Will there be a day when Fintech and traditional finance converge into a form of New Finance, similar to the New Retail which converges e-Commerce and traditional retail business?