Boring, mundane, routine. These are all words that I’ve heard to describe dependable transaction services.
Given the number of fintechs now encroaching on banks’ transaction businesses this is hardly true. Fintechs have been paving a new way for transaction services and there is a buzz around the business.
The competition between banks and fintechs is intensifying, and I have argued in the past that banks could become irrelevant in transaction services. But there is one bank that could buck this trend: Goldman Sachs.
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