Token – A Big IDea for Banks

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In the digital world banks can win by doing more of the same, says Marten Nelson, co-founder, Token.io.

What is a bank?

A place to store money? Yes, but keeping cash under the mattress doesn’t make a bank of your bed.

A lender? Sure. But today you can get a line of credit from almost anywhere.

A payments facilitator? Absolutely. Yet banks need third-party tech, independent networks, processors and clearing houses to get the job done. It’s hardly a USP.

Strip away all the products and services that banks provide. What’s left?

Read more here.

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