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RE: Ex Barclays CEO Says Banks Must Embrace FinTech Or Face A 'Kodak Moment' (The Cryptoverse #294)

in #crypto8 years ago (edited)

The bigger the entity the less agile they usually become. Banks are about as big as they get so it is no surprise they are not very agile in general. This is why a lot of big entities fail to change with time and in the end almost die due to it. This is why the music industry clung to CD sales for so long instead of adopting digital music. Is this why phone directories like YellowPages were still focused on print long after the trend was already dead and moved to online. They get set in their ways and because of this tend not to look forward, which is usually at their own detriment in the long run. Kodak Moment is a great term for this "illness".