How Global Fintech Trends Will Impact Your Banking Bankrate.com

Fintech startups around the world are changing the way people manage their money. Apps are reshaping entire payment systems, people are learning to live with chatbots, and innovative interfaces are challenging the way banking gets done. Much is happening abroad, but the impact of these trends on the U.S. market is very hard to predict. Our financial system is far more complex and well entrenched than systems in other countries, with thousands of institutions and a complex regulatory environment featuring countless state-level authorities and multiple federal agencies. U.S. banks tend to be slower to adopt technology, in part because of the gargantuan task of updating old, siloed systems.