SME INNOVATION BANKING DISRUPTION: In line for change

SME INNOVATION BANKING DISRUPTION: In line for change

Bonds

Across a swathe of industries, disruption has become a buzzword for the sweeping competitive changes wrought by the power of rapidly evolving technology and data. In Latin America’s financial industry the phenomenon is redefining how payments are made, how cash is lent and, quite possibly, where money is kept.“We are seeing disruption in all aspects of the industry,” says Ruth Polachek, head of Citi’s financial technology (fintech) accelerator in Israel. “We are innovating but, as a bank, we cannot do it on our own. The disruption is helping all of us to grow.”Polachek sees disruption happening gradually, but research from Scratch, a consulting division of US media company Viacom, indic

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