[sunaookami]

As someone working in fintech (in Europe): I agree. People always say "well at least it's tested and works!" but fintech is pure bullshittery. We wrap shiny new apps over 30 year old legacy systems written in C++ and bank employees need to constantly correct data manually. I know from a bank that has only one employee that knows about the whole system and nobody knows what happens when they retire (is already aged >50). Generally, banks rely on a very small number of (overworked) people that prevent the whole system from collapsing and they will all retire in a few years. Neo-banks and Neo-broker have their own disadvantages (like bad support, etc.) but at least they are forward-thinking.

Everything is also constantly regulated to death (and not the good kind) and banks wait until the very last day (even when regulations were passed at EU-level 6 years (!!) ago) and you then need to rush implementing it in the last month.

After working there for a few years now it's hard to trust any bank. Better not think too hard about it...

[gethly]

Oh man, so true. Don't even get me started on the red tape in EU.

[Jommi]

use the open source tech made for public blockchains and use that to build new banking rales for public/semi public banking networks