Banks’ fear of fintechs has (mostly) receded, but banks are still keeping an eye on the new entrants.
In fact, according to a new study by The Economist Intelligence Unit, banking executives expect fintechs to gain the most marketshare in mortgage lending, as well as consumer finance and credit, including car and payday loan products.
The unit surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020.
Respondents were asked about the main area where fintechs are expected to gain the most market share. Mortgage lending and consumer finance both gathered 40% of the votes, compared to only 10% of wealth management-related entrants.
More information on the report is available here.Like This Post