Banks most wary of margin erosion from fintechs: poll
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Singapore
TRADITIONAL financial institutions are most wary of the threats from fintechs in the form of margin erosion, a new PwC report this week showed. And the report suggested that banks are not keeping their eyes trained on a clear and present disruption in the form of blockchain technology.
Two-thirds of global financial services companies ranked pressure on profit margins as the top fintech-related threat, according to PwC, which polled 544 top executives in the financial services sector. This was followed by loss of market share, at 59 per cent.
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