The start-ups banking on change

Excessive fees and disgruntled customers have made conditions ripe for start-ups to start applying the principles of PayPal, Skype and crowd-sourcing to the banking industry.

With mounting frustration at the costs and complexities of international currency transfers, online start-ups like CurrencyFair and TransferWise are taking on the banks with systems that minimise the middle-man and directly link people wanting to exchange funds.


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