The buzz around fintech innovation is growing ever stronger and investment into the sector is rising dramatically. Indeed, fintech is set to radically redefine the payments landscape, and has the potential to leave banks behind if they to fail to react. In TMI’s Sibos edition, Dominic Broom, Head of Treasury Services EMEA, BNY Mellon, discusses the findings from their new report, “Innovation in Payments: The Future is Fintech”, which examines the impact of fintech on global payments and how banks are responding. Broom explains how in recognition of the growing aspirations of fintech companies in corporate payments, banks are increasingly seeking to partner, invest in and mentor emerging fintech players in order to harness technologies within – rather than outside – the banking domain, and therefore protect their role in supporting corporate customers.
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