QUESTION
Revolut is a British financial technology company that offers banking services. Headquartered in London, it was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko.
According to CBI insights, its value had ballooned from 1.8 billion to 33 billion within the last 5 years. Additionally, as per the article “ Mastering digital reinvention in retail banking”, an estimated 30% of banking revenues from Italy, France, and Germany are being lost due to digital technology. In the nutshell, it shows the significance of Fintech .
On the other hand, PMorgan Chase & Co. CEO Jamie Dimon, warned against overreacting to the impact of technology on jobs. In a LinkedIn interview, Dimon stated that while the bank is leveraging technology to cut costs, it is also helping to develop new opportunities.
He expects his company’s staff numbers to continue to climb as it adds more technology workers. REQUIRED Q1 Define Fintech AND discuss the revolution of fintech in Malaysia for the past 10 years
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