Wave of neobanks to flood fintech space

By Jennifer Kang
02 Dec 2020

After years of trying to become anything but a bank, fintech lenders are ditching the pure marketplace lending model to become depository institutions themselves. As key players exit the pure online lending space, sources say fintech lenders as a whole could start losing out on traditional avenues of funding, such as the equity market.

Panelists at ABS East Virtual 2020 say the line between fintechs and banks is starting to converge, with banks trying to become more like fintechs and vice versa. 

While banks are trying to adjust to the digital-first era of Covid-19, fintechs are looking for ways to strengthen their balance ...

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