About Plutus “Nearly 50% of banks do not upgrade old IT systems as soon as they should, and 43% of US banks still use COBOL, a programming language dating from 1959 and extra layers embedded on top of it are causing outage” - UK FCA in its annual report In other words, banking systems are outdated and cannot be easily modernized. Fintech have responded enthusiastically to address this problem and in India alone there are over 2,000 fintechs and neo banks currently. Each of them is looking to...