Fintech disruption greatly exaggerated: WEF
Fintech companies have changed “the basis of competition” in financial services, but have not greatly disrupted the businesses of larger incumbents, the World Economic Forum (WEF) said in a report this week.
Fintech companies have not succeeded in establishing themselves as dominant players in financial services, wrote WEF’s Jesse McWaters and Deloitte’s Rob Galaski.“Fintechs have struggled to create new infrastructure and establish new financial services ecosystems, such as alternative payment rails or alternative capital markets,” the report said, adding ...
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