Uday Kotak Quotes

I am in a traditional financial services business - but we at Fidelity can see that the evolution of technology is setting our industry up for disruption. What if this technology could do for the transfer of value what the Internet did for the transfer of information?

The changing nature of money is only one facet of the financial services revolution.

If we want to be the banker to every Indian as we want to be, then we will have to use technology.

By lowering the barrier to create new digital currency applications, we'll see an explosion in the number of ideas tried. We'll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0.

The financial world is at the cutting edge of high technology.

As with so many sectors of the economy, technology is transforming the retail banking sector.

Our view is that consumer finance - what people think of as retail finance - that arena is ripe for disruption. Bitcoin is absolutely a core platform and asset format that we are dependent on to build this business.

I think that, in addition of the intersection of media and technology, there has also been an intersection between technology and finance, which is something I find a little closer to home, seeing as I spend so much time covering Wall Street banks.

Software is eating the financial services industry. We have a large addressable market for PayPal to play in.

The only thing useful banks have invented in 20 years is the ATM.

Elon Musk with PayPal revolutionized banking.

If you look at people who have an iPhone or Android and are under 40 and are dissatisfied with their bank, it's actually quite a large market.

Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.

Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.

Traditional consumer banking will come under extreme pressure as its central deposit-taking and lending functions are challenged by online savings vehicles, crowdfunding, and loan syndicating by such nontraditional competitors as insurance companies, pension and hedge funds.

Beyond the traditional areas of cooperation, we have entered the digital age with its own opportunities. The area of fintech needs to be explored.

Machines can do things cheaper and better. We're very used to that in banking, for example. ATM machines are better than tellers if you want a simple transaction. They're faster, they're less trouble, they're more reliable, so they put tellers out of work.

I want the best people, not just on the banking side but on innovation and technology.

As I was looking around, to me, what was happening in the blockchain and crypto world was a movement.

Distributed ledger technology is fashionable. In fact, if you could wear it, you'd put Ralph Lauren out of business, at least in my case.

I've been all over meeting government ministers and such in Caribbean financial circles. There's a small blockchain movement in the Caribbean. They've been quite a bit more advanced than you might've imagined.

Money is catching up to the technological trends transforming all aspects of society and business; entertainment, insurance, health-care, gaming, leisure, retail - all commercial and social verticals are going digital - including money itself.

The luxury industry is being radically reshaped by technology-driven innovation.

For the first time in 6,000 years of human history, we can have peer-to-peer exchange where trust is not a problem anymore. And it's through the technology that underlies bitcoin. It's called the block chain.

The blockchain is going to change everything more than the Internet has.