Analysis: Missed opportunity reforms should be embraced as happy medium by fintechs and banks.

Some voices called it a missed opportunity, stating that it didn t go far enough, while others focused on the benefits for customers.

What should be remembered is that the CMA is focused on what is best for the customers and it clearly holds a belief that more competition in the space will help to create better services, more openness, and generally a healthier banking industry that will insure that the damage done by the 2007 banking crisis is not repeated.

Customers are becoming increasingly comfortable with using their smartphone as the primary channel to manage their finances, which calls into the question the relevance of traditional bank branches.

Banks such as Atom and Mondo, which focus on mobile app technologies to deliver banking services, have led the charge but banks like Barclays have also been trying to innovate with things like payment bracelets, which it launched in partnership with Topshop earlier this year.

Typically the feedback that I get from fintech companies is that regulators, such as the CMA, are doing a good job.

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