How ecosystems in Asia are threatening Western banks

Beschreibung

After the financial crisis, Western banks where paralysed with lawsuits, fines and regulatory requirements. The lack of innovation paved the way for a new industry (fintech), focusing on data and clients that lost trust in large banks and their intransparent and complex financial products. Challenger banks from Asia are about to export their digital and client-focused business models, eating traditional banks’ lunch.