Justin Peyton
Aug 21, 2014

Digital disruption in banking is coming

To compete against startups that seek to transform their industry, existing financial institutions must make digital innovation an integral part of their culture.

Peyton: today's startups are breaking into industries by re-inventing them

In July of this year, the Chinese ecommerce company Alibaba announced that its one year old mutual fund Yu’e Bao had over 100 million investors and held RMB 574 billion US$92 billion in assets. On that basis, Yu’e Bao is the fourth largest money-market fund in the world. This is only the beginning of what will likely be a continued challenge to the financial services and banking industry from the technology sector.

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