Apple is running out of ideas

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Apple, which changed the world with the iPhone a little over 10 years ago, was accused of stagnation under Steve Jobs' successor, Tim Cook. The credit card recently announced by Apple shows that the iPhone maker is short of innovative ideas.

Banks around the world have been nervously monitoring Silicon Valley for years, fearing that the kind of disruption that technology giants caused for retail, media and transportation is occurring for financial services .

Well, now it's finally here, but Apple's downturn in the banking and credit market should not cause sleep to traditional banks. Not at least, while the likes of Facebook, Square Cash App, and Bitcoin change the way people think and use money.

Banks are generally known to be among the worst innovators in the world, although it is not for lack of trying. Severe regulations prevent banks from offering customers something new or exciting.

One of the most common complaints heard by the booming financial technology sector of the UK, known as fintech, is that it is still too difficult and tedious to override the regulation, which has made concerted efforts to help feed burgeoning start-ups.

Technology companies have long known that innovation, experimentation and invention have been squeezed out of financial services and have wisely kept themselves away from what is a boring market, well that lucrative.

The Apple credit card, for which banking is handled by Wall Street giant Goldman Sachs, while MasterCard is responsible for payments, is an Apple product whose name is almost unique: sitting above and using a lot more interesting Apple Pay.

The other Apple ads this week reveal a company that is struggling to find its direction, seeking to compete to compete with Netflix's popular streaming service and Google's recently announced streaming platform. Stadia, while followed very follow the amazing success Apple AirPod considered an additional disappointment.

Banks must look towards small players in the fintech sector, Facebook with its planned digital currency, and bitcoin and cryptocurrencycurrently defended by Twitter's general manager, Jack Dorsey.

Financial innovation comes from these companies, while bitcoin and crypto have already started the revolution in the long run. Apple may lose its relevance.

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Apple, which changed the world with the iPhone a little over 10 years ago, was accused of stagnation under Steve Jobs' successor, Tim Cook. The recently announced Apple credit card shows that the iPhone maker is short of innovative ideas.

Banks around the world have been nervously monitoring Silicon Valley for years, fearing that the kind of disruption that technology giants caused for retail, media and transportation is occurring for financial services .

Well, now it's finally here, but Apple's downturn in the banking and credit market should not cause sleep to traditional banks. At least, while Facebook, the Cash Application of Square and Bitcoin are changing the way people perceive and use money.

Banks are generally known to be among the worst innovators in the world, although it is not for lack of trying. Severe regulations prevent banks from offering customers something new or exciting.

One of the most common complaints heard by the booming financial technology sector of the UK, known as fintech, is that it is still too difficult and tedious to override the regulation, which has made concerted efforts to help feed burgeoning start-ups.

Technology companies have long known that innovation, experimentation and invention have been squeezed out of financial services and have wisely moved away from this boring, albeit lucrative, market.

The Apple credit card, for which banking is handled by Wall Street giant Goldman Sachs, while MasterCard makes the payment, is an Apple product whose name is only the appellation – which rests above and which uses a lot more interesting Apple Pay.

The other Apple ads this week reveal a company that is struggling to find its direction, seeking to compete to compete with Netflix's popular streaming service and Google's recently announced streaming platform. Stadia, while followed very follow the amazing success Apple AirPod considered an additional disappointment.

Banks should look to the smaller players in the financial technology sector, Facebook with its expected digital currency, as well as bitcoins and crypto-currencies, currently being championed by Twitter's chief executive, Jack Dorsey.

Financial innovation comes from these companies, while bitcoin and crypto have already started the revolution in the long run. Apple may lose its relevance.