Former Barclays CEO warned the bank “Kodak Moment” and called for the advancement of financial technology applications

nnnnThe former Barclays CEO warned banks and financial institutions to be alert to the “Kodak moment”, pointing out that the arrival of financial technology and opportunities, must be actively respond to, in order to ensure their position in the market, maintaining customer relations. In particular, the recent increase in the money market, as well as the participation of more countries, seems to confirm the forecast.n
nnTranslation: Annie_Xun
nFormer Barclays CEO Antony Jenkins warns that the “Kodak moment” of banking communities, banks and financial institutions is coming soon unless they accept the upcoming financial and technological changes.n
n”Now we will see the possibility of the so-called Kodak moment, but we are not sure about the probability that the relationship between the bank and the customer is getting alienated,” says Jenkins, who has brought about a dramatic increase in the growth of encrypted money.n
nThe popularity of encrypted money and the rise of artificial intelligence are only the beginning of global banking reform.n
nWhile some may argue that Jenkins, the founder of financial technology company 10X Banking, is biased, the surge in block-tier banking solutions seems to indicate that his guidance is valuable to the industry.n
nGermany, Kazakhstan and Vietnam and other countries gradually accept the encrypted currency, the banking industry will have to keep up with the pace of financial technology.n
nJenkins Summary:n
nn”This is the current pace of development, these technologies continue to develop, we can imagine the overall banking changes, such as in a completely non-existent banking institutions in the world using block-chain technology.”n

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