Should big banks like (JPM) - Get Report and Wells Fargo (WFC) - Get Report be worried about FinTech destroying their businesses? Tracy Byrnes spoke with U.K.-based Iam Bank CEO Lee Travers to an get answer.
FinTech - a.k.a. Financial technology- is the evolving intersection of financial services and technology. And Iam Bank is just that. The US site will launch later this fall and will offer digital tools along with learning algorithms that will help consumers make better decisions. In addition, Travers has a special interest in understanding the consumer's mental health to make better financial conclusions.