Fintechs have certainly taken the banking industry to a whole new level.
They provide access to a full range of financial services without ever visiting a branch.
Fintech companies are reshaping banking local marketing email list relationships and forcing the world's oldest financial institutions to rethink their banking services.
How are fintech companies disrupting traditional banking?
Competition from new apps and branchless financial institutions is shaking up the rules of what it means to be a “bank.”
Traditionally, banks have relied on a network of branches and ATMs in convenient neighborhoods.
But according to one study, 2 in 10 people have never set foot in a bank since before the pandemic.
Going to a branch (or even carrying your wallet!) is an increasingly foreign concept. As consumers, our relationship with money is taking on surprising new forms:
Send money with a short exchange to a smart speaker.
The number of millennials and Gen Zers who consider a digital bank (like Chime or Cash App) as their primary checking account is on the rise.
A shocking 8 in 10 consumers say they will never carry a wallet again . Phones, smartwatches, and even fashion jewelry are the new way to pay.
Automakers are exploring devices that turn vehicles into wallets - no need to get out of your car at the gas station.