Businesses Move Away from Traditional Banks in Favor of Fintech Options
“Banks are dinosaurs, they can be bypassed” – Bill Gates Q2 2021 hedge fund letters, conferences and more Fintech is currently the biggest competitor of banks, and it's winning the battle. While the traditional banking industry grew by an average of 2.7% between 2016 and 2021, fintech grew by 25% per year. That's down to the fact that fintech companies understand most things that banks are struggling with, including networks, distribution, decentralization, information, and customer experience. To no surprise, Gartner predicts that 80% of traditional financial firms will either go bust or be r...