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This is a welcome move and by being proactive the bank can hopefully be in control of the position it finds itself in with their customers than being passive and being relegated by the fintechs and other banks

While not dismissing the role of the FinTech firms and the opportunity available to upset the established banks, it must be worth assessing if such a threat can be really possible?

When the FinTechs do become big enough to matter, they will attract the regulatory attention and that will weigh / slow them down much as it does the players in the Financial services industry.

In order to be truly pathbreaking the FinTechs must play in the not very attractive world of the infrastructure and create truly alternative infrastructure. Riding on the current infrastructure can be limiting in terms of the variety of use cases or in terms of tru and sustainable differentiation that can be offered by the Fintechs.

A journey of Thousand miles begins with a single step...  this is a big win for Ripple