“At that point I said, you know what? I’m done with financial services. I don’t like the business model, I don’t like how they operate, I don’t like the fact that those who can least afford it always pay the most, I don’t like the risks that banks pose to global economies. Nothing has fundamentally changed.” — Anthony Watson, Uphold CEO.
On Wednesday BI ran an interview with Anthony Watson, a former banking executive who’s jumped ship to join a fintech startup, Uphold.
Watson, who held board level positions at Barclays, Citi, and Wells Fargo, is one of the most outspoken former banking executives out there.
Most in the world of fintech (financial technology) talk about traditional banks in terms of inefficiencies and slow adoption. But Watson talks in terms of inequality, unfairness, and outrage at how the banks treat the poor.
