Banks struggle to keep pace with FinTech disruption

Fintech providers are making increasingly significant inroads with customers, yet the vast majority admits that they are not adequately prepared to manage this emerging threat, according to a new report by Capgemini and Efma.
The report shows that nearly two-thirds of customers are now using Fintech products or services, and are much more likely to refer friends and family to their Fintech provider (55%) than to their bank (38%). However, while 96% of banking executives agree that the industry is evolving toward a digital banking ecosystem, where Fintech providers play a much bigger role, only 13% say they have the systems in place to support it (Press Release Capgemini, 18 April 2016).
Click here for the press release.
Click here for more information about the report.
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