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This guest article was written by William Laraque who is the Managing Director of US-International Trade Services.
The Citibank experience with fintech and this financial institution’s management’s emphasis on financial innovation, is symptomatic of what is wrong with global banking and with many alternative versions of nation-building.
Lending Club is one of many innovations in fintech watched by Citigroup as, along with the rest of the banking industry, it reacts to what Jamie Diamond of JP MorganChase terms “Silicon Valley is coming”.
Fortune magazine has just published an article praising Citibank management and its adventurous démarche into fintech. ... (read more)