Banks vs startups

Banks fight back against fintech startups

Banks are suiting up with new software. Battle tactics include partnering with the enemy, buying proven technologies, and giving every banker an innovation grade.

Bankers played table football and stuck multi-coloured Post-it notes on a wall during one of the hackathons conducted by Singaporean bank DBS last year.

It is part of a growing trend as bankers around the world are prised out of their day jobs into such software workshops, to be lectured by Silicon Valley entrepreneurs and told the way they work will radically alter as their platforms go digital.

DBS is shifting faster than most of its peers and will score every one of its 22,000 staff red, amber, or green according to how they’ve helped to turn the bank into a financial technology, or fintech, player....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222