Fintech explosion puts banks in digital firing line

A report out Tuesday (7 July) from the World Economic Forum, the Swiss corporate think-tank that runs the Davos summit of world leaders, says major disruptions lie ahead for the once highly profitable financial services industry.

Foreshadowing the end of the friendly local bank manager, UK regulators last week granted a banking licence to Atom, a "branch-free, paper-free" institution which its customers must access on their own mobile phones or tablets.

Read the full story at reuters.com