FinTech and Challenger Banks Rapidly Changing Financial Landscape

As new challenger banks and FinTechs attack business models across the banking landscape, newcomers are rapidly making inroads into the sector’s profits by offering agile, digitalised alternatives. In retail banking, the trend is visible across the value chain, from customer contact and lending to mortgages, payments and alternative financing.

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Banks to Beef Up Their Collaboration With FinTechs for Innovation

In the coming years, banks will even more closely work together with FinTechs. With agile new competitors eating into their market share, many banks do this mainly to gain speed in innovative technologies and combat this trend. Traditional players in the banking industry are often able to trace their roots back centuries.

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