Is FinTech a Result of Frustration from Traditional Banking Services?

What is #FinTech?  Companies providing Banking and Financial Institution Services to #Customers through efficient use of #Technology, Simple Explanation and #Distribution of the products and Sevices to  people desirous to get these services.

But why does it Exist as an added layer to banking services and hence adding cost in the #Value Chain? Why can’t a bank do it when they have both #Banking products, #Technology Infrastructure, Capacity to Invest and Customer base?

What was missing in traditional banks that such system got Evolved?
Is it due to the Frustration of few people from the traditional banking that they went out solving the #CustomerExperience issues and #FinTech Industry evolved?

And if Banks were so Confident of their Stature then why they are now trying to Catch Up with their own #Distributors for market share? Why they are investing in Technology which they would have done earlier too?

Is #FinTechResultofFrustration from traditional Banking??

What are your thoughts on this??

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