@newbie1111

I dont mean that Banks cannot be fintech, but is definitely not in their blood. Banks have too many red tapes, risk control and often banks are very cautious. Banks definitely got deep deep pocket, but speaking about fintech, i still think banks are slow.

Reply to newbie1111 post posted on > Feb 26, 2021 8:47 AM |

I m one from the industry and I can tell u that fintech is actually not in the blood of the banks. None of the successful fintech today is build by banks.

The fact is that fintech or at least the first stage of fintech is NOT competing with banks. The initial stage of fintech usually servicing markets that the banks refuse to serve - small SME, hawkers, freelance , and those that the banks can't evaluate their creditworthiness.

People that want to convert RM5 to SGD, the banks will not entertain. This is where the fintech will take.
People that want to buy RM100 of unit trust/stocks, the banks will not entertain. This is where the fintech will take.
People that want to borrow RM100k for business but no supporting, the banks will not entertain. This is where the fintech will take.

If u think AA couldnt make it in fintech because they are airline company, u may want to think again as Tony started AA with zero experience in airline.

Warren Buffett bought new stakes in a GOLD MINING COMPANY - Barrick Gold doesn't means he is bullish with short term gold price. It might be just a hedge against possible bad time.

regardless what other ppl say. I am collecting YTLREIT, SUNREIT and KIPREIT.

Anyone know if any of the covid19 test kit they authorised to distribute is approved by MOH yet?