French Central bank Governor Francois Villeroy de Galhau attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 25, 2016. REUTERS/Susana Vera
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After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and entrepreneurs gathered.With the U.K.'s vote to leave the EU seen as an opportunity for Paris to raise its game, executives from Societe Generale SA, insurer Axa SA and Spain's Banco Bilbao Vizcaya Argentaria SA among others showed up to talk about potential in France.Fintech startups raised 155 million euros in France last year, up from 135 million euros a year earlier, he said.France's top financial firms need to embrace innovation as clients increasingly turn to their smart phones for banking. In 2016, only 20 percent of visited to their bank more than once a month, down from 62 percent in 2007, according to a BVA survey for the French Banking Federation.
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