well written article exploring challenges incumbent financial institutions are facing from Fintechs. About a five minute read.
Comment: very factual, but at times hyperbolic and neglects to address a key USP incumbents have over challenger Fintechs — capital. A very large number of Fintechs lose money, and are dependent upon the largesse of investors. As segments become crowded Fintechs increasingly compete with each other, meanwhile the cash rich incumbent can pick and choose, acquiring challengers at will. This is exactly what JP Morgan has been doing. Look at it this way: most Fintechs provide R&D services for incumbent financial institutions.