It’s no secret that FinTech is diversifying the channels through which financial institutions interact with their customers. But is it simultaneously improving the financial services industry as a whole?

“FinTech is pushing many industries on a digital journey,” said Jorrit de Vries, Samsung’s director of sales for financial services, during a recent Q&A in New Jersey. “It makes traditional institutions think about new business models, whether it’s the insertion of IoT, wearables or any other mobile technology.”

“From wearables to gamification to mobile phones or tablets — [FinTech] is helping to move banks forward,” said de Vries.

Watch more from my interview with de Vries — including how banks are capitalizing on digital trends — in the video above.