Merging the strengths of 'fin' and 'tech' to launch a renaissance

THERE has been an ongoing narrative around the concern that banks are facing heightened competition from financial technology (fintech) firms. This year alone saw a number of headlines warning that the banking system is ripe for disruption amid the advance of their fintech rivals.

Examples of this trend abound across both the financial industry and regulatory landscape. For example, the Monetary Authority of Singapore (MAS) has rolled out initiatives to boost Singapore's status as a fintech hub. In June, the MAS introduced a regulatory sandbox to enable financial and non-financial institutions to experiment with fintech solutions. At the same time, a February 2016 survey by recruitment firm Robert Half - whic…