Sizing Up the Real Fintech Threat to Banks
A recent report by Gartner makes the prediction that by 2030 only 20% of heritage financial firms will flourish and win, the rest will either stagnate or be commoditized. Many disagree with that prediction and 71% of financial services CEOs said they believe their organizations can compete in a digital world without changing their business model. In some areas fintechs are making inroads in market share but the biggest threat to the banks will likely come from the large technology companies. Source.