Question #271999
How are FinTech start-ups and Big Tech firms competing and
cooperating with incumbents from big finance? How has Big Finance
reacted?
Expert's answer
Fintech regulations are more flexible than traditional restrictions, making the industry riskier. However, people continue to use it because it provides a more efficient, cost-effective, inventive, and user-friendly experience. Additionally, there are additional functions that are not available at typical banks.
