The Fintech revolution has grown rapidly in recent years, and it appears as if it will not be going away anytime soon.
How much of a threat does Fintech pose to traditional banks? A new survey of 100 Fintech executives and 100 senior bankers conducted by the Economist Intelligence Unit (EIU) and sponsored by Hewlett Packard Enterprise shed some light on where Fintech is headed and if big banks should be worried.
Here’s a look at some of the key findings from the survey.
Among the 100 bankers surveyed, 70 percent see some form of major disruption ahead from Fintech, although only 5 percent believe that Fintech will eventually dominate the space.
When surveyors asked how banks are responding to the Fintech challenge, more than half of bankers (54 percent) and Fintech execs (59 percent) reported that they believe banks are currently not doing enough to maintain a competitive advantage.
In terms of openings, bankers see…
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