09.10.2017 12:09 pm
In the Sibos 2017 and Money20/20 edition of Financial IT magazine, we are pleased to include our survey of digital banks, as a part of our commitment to identifying global pioneers at the intersection of technology and financial services.
Digital banks matter for three reasons. They have emerged from nowhere in a relatively short period of time. Most are two years old - or younger. Many of the digital banks use radical and new technology to confirm the identities of clients and to meet Know Your Client (KYC) requirements. In theory, the digital banks could radically transform the financial services landscapes of the countries in which they operate.
We would stress that our ranking of digital banks is largely subjective. It is based on three criteria: media coverage of the digital bank in question; apparent numbers o f employees; and an assessment of the overall impact of the digital bank. We note that there may be digital banks that hav e inadvertently been omitted from the survey. We will be pleased to include them in future editions of the survey. We also accept that there may be compelling reasons why particular digital banks should be more highly ranked than indicated by us.
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