Banks pursue fintech geeks in awkward embrace

Singapore

AMID the solemn swell of bankers in dark suits at Sibos 2015 are bright blips of colour and casual chic from the new class of finance elites: the fintechs. Young, smart, and slightly unshaven, those from start-ups in the finance industry have shaken down the banking world by offering banking services that are faster, and more convenient for consumers.

And the banks choking with executives from Generation X want to work with them, with many executives this week talking about fintechs as collaborators rather than competitors - a different shade from the wariness when fintechs first emerged.