Starting Finance from Scratch

We have a chance to rebuild the system. Financial transactions are just numbers; it’s just information. You shouldn’t need 100,000 people and prime Manhattan real estate and giant data centers full of mainframe computers from the 1970s to give you the ability to do an online payment.

You would not today, starting from scratch, invent any of these financial businesses in the same way. To me, it’s all about unbundling the banks. There are regulatory arbitrage opportunities every step of the way. If the regulators are going to regulate banks, then you’ll have nonbank entities that spring up to do the things that banks can’t do. Bank regulation tends to backfire, and of late that means consumer lending is getting unbundled.

What's been said:

Discussions found on the web
  1. rolex copy commented on Jan 14

    … [Trackback]

    […] There you can find 75101 additional Info to that Topic: […]

  2. repliki zegark��w commented on Jan 17

    … [Trackback]

    […] Read More on on that Topic: […]

  3. Digital Transformation commented on Jan 17

    … [Trackback]

    […] There you can find 40841 additional Information to that Topic: […]