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Banking will be shaken up - by tech giants, not fintech startups

The best fintechs now offer services to banks, which then buy them out. Banks must push the use of AI to stay relevant.

The banks are gearing up against the threat of disruption. At the FinTech Festival at Fusionopolis in late 2016 (above), 23 financial institutions showcased their fintech labs and innovation centres to visitors.

IN cash-abundant Silicon Valley, there is a myth that any college dropout with a hoodie and a half-baked idea can raise venture funding. They are young and limitless. They aren't biased by industry norms and so can freely reinvent the world as we know it.

They are Steve Jobs. They are...

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