The UK finance
sector is experiencing several developments. Considering the introduction of
startups offering innovative micropayment solutions,
traditional firms have to face considerable competition. A lot of companies
advance that they are aware of the potential risks. The professional services
consultancy KPMG conducted a survey
on this subject. It looked at 168 large financial institutions from around the
world. 57% of those identified fintechs as the “the greatest’ source of
disruption” in the sector. These firms were ahead of factors such as cybersecurity
and regulatory pressure.
Fintechs
are a threat to traditional financial firms
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