While the uncertainty is being sorted out, "a lot of proof-of-concepts and experiments run the risk of being seen as 'side projects' that may be consequently paused until the situation settles. That doesn't mean they will be killed. But a six-month hiatus is a very long time for a young startup."
June 29, 2016 1:15 PM
London has emerged as a mecca for fintech in the last few years, with more than half of top startups there in financial services or payments. When the U.K. voted in a national referendum on Thursday to leave the European Union, it created a lot of uncertainty for these startups. Here FemTech leaders share their views on how the referendum affects the relationship between banks and fintech and their appetites for collaboration.
Andra Sonea, solutions architect for a bank innovation lab and fintech mentor
"Banks need to focus on being able to operate in the current climate. When your stocks go down 30% in two days, the priorities change. It will not be a lack of willingness to collaborate but rather a lack of attention span and resources."