Jonny Fry Posted
Why banks are digitising
It has been reported that banks are potentially going to lose $280 billionto Fintech and payment start-ups by 2025. McKinsey estimates that the global payments market is set to exceed $2 trillion by 2020.We have seen a number of challenger banks grow incredibly fast in the UK, with firms like Monzo and OakNorth. OakNorth has seen its income grow from £77 million to £177.6 million in just 12 months : a year-on-year growth of 268%, according to Innovative Finance.
More institutions are starting to offer digital versions of their existing assets (equities, bonds, property, mutual funds etc) notto...
It has been reported that banks are potentially going to lose $280 billionto Fintech and payment start-ups by 2025. McKinsey estimates that the global payments market is set to exceed $2 trillion by 2020.We have seen a number of challenger banks grow incredibly fast in the UK, with firms like Monzo and OakNorth. OakNorth has seen its income grow from £77 million to £177.6 million in just 12 months : a year-on-year growth of 268%, according to Innovative Finance.
More institutions are starting to offer digital versions of their existing assets (equities, bonds, property, mutual funds etc) notto...