That's not that hard because the foundation of banking here in Europe is so strong. We don't run on physical checks here, we have working next-day inter-bank transfers and direct debits with more and more banks additionally supporting instant transfer, and most importantly we have way less fraud because we have actual identity cards for everyone instead of allowing everyone knowing your SSN to use your data to create fraudulent accounts.
The result is that European fintechs can skip a lot of groundwork that every US fintech has to deal with and we need less of them in the first place because stuff that needs fintechs in the US is available for everyone in the first place.
The result is that European fintechs can skip a lot of groundwork that every US fintech has to deal with and we need less of them in the first place because stuff that needs fintechs in the US is available for everyone in the first place.