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Banks are technology firms in disguise

This week, there are quite a few folks in Prague at a conference on payments in Central & Eastern Europe including myself.

Lots of local banks presenting as well as regionally focused transaction providers, such as ING, Raiffiessen and Deutsche.

What struck me as these discussions developed, is that quite of a few of the transaction providers are offering to partner with the local banks to provide their back office payments processing.

Nothing wrong with that except that, as you develop this conversation, the larger transaction banks are becoming technology firms in disguise.

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About Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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