Conventional banks now account for 72% of the stock market value of the global banking and payments industry, down from 96% in 2010.
Fintech is allowing new start-ups to create new channels of distribution reducing commissions and fees or coming with innovative low costs products.
Do you think this good or bad for finance?
The ANT Group will further disrupt the comfort zone of Bankers. The giant Chinese fintech upstart is expected to raise more than $30bn, eclipsing Saudi Aramco’s debut last year.