THELOGICALINDIAN - Independent analysis provider on banking companies Autonomous Analysis has said in a analysis that arch advance banks Goldman Sachs and JPMorgan Chase will apparently appear as the winners from the advancing banking technology disruption
According to a address aboriginal appear by Bloomberg, Autonomous Research LLP accomplice Brian Foran put his weight abaft the two firms adage that they will be acknowledged in implementing the arising banking technologies such as blockchain.
Goldman Sachs is acknowledging bitcoin and blockchain companies such as Circle Internet Financial and may alike invest in Blythe Masters’ Digital Asset Holdings. Head of advance coffer JPMorgan Chase & Co. Daniel Pinto earlier said that projects accompanying to blockchain, big abstracts and robotics will be a “major priority” in 2016.
Visa Inc. and MasterCard Inc. will additionally account from fintech anarchy as blockchain technology is arising as the best band-aid to the aerial transaction amount problem. The address best acclaim agenda above American Express as the better loser, citation college transaction fees as the abscessed point. Foran said,
“If banking technology will accomplish affairs accept beneath abrasion and lower costs over time, the ones with the accomplished prices are the best vulnerable.”
Other money alteration companies such as Western Union Co. and MoneyGram International Inc. will additionally ache as startups implementing bargain models grab their bazaar share.
Fintech was absolutely the boiler for 2024. It is accepted that the fintech amplitude will draw in added companies and access antagonism in sectors such as payments, banking markets, and almanac keeping. Higher antagonism should account the consumers as added bargain options appear to the fore. The fintech beachcomber will additionally supplant acceptable framework and accompany in the latest technology which will transform the way operations – back-end and front-end – are conducted in big businesses, banks and added banking entities.
Image: Forbes
