‘Traditional banks losing share to fintechs globally’
[ad_1] MUMBAI: Traditional banks are losing ground in the fast-evolving financial services space to agile, tech-driven rivals. Even as overall sector revenues grow, incumbents struggle to hold on to their share, according to Boston Consulting Group's latest Future of Finance report."Financial services revenues are growing - but banks are not capturing their fair share," BCG says. The value, it notes, is shifting to fintechs, private credit funds, non-bank liquidity providers, and digital-native banks. "Maturing digital assets appear to be on pace to cause significant disruption, with most banks currently on the outside looking in."The fastest-growing players are also the most digitally savvy. Digital attacker banks clocked 85-100% CAGR in revenues over the past five years. Private credit players and retail trading platforms are close behind. Traditional banks, in contrast, posted only 10-15% CAGR, despite holding the largest share of balance-sheet […]