FinTech Is Merging with IoT and AI to Challenge Banks: How Entrenched Interests Can Prepare 1. Paul Schulte 1. is the founder and editor of Schulte Research in Hong Kong. (paul{at}schulte-research.com) 2. Gavin Liu 1. is a senior analyst at Schulte Research in Hong Kong. (gavin{at}schulte-research.com) 1. To order reprints of this article, please contact David Rowe at drowe{at}iijournals.com or 212-224-3045.