The business model have changed for banks. A combination of factors, mainly regulatory and technological, have generated, according with a study from Forbes, four new entrants:
1) challenger banks that want to create digital-only, interactive banks;
2) nonbank payment institutions that target a specific service,
3) ) credit intermediation platforms that match borrowers with savers,
4) big tech firms, such as Google, Apple that are targeting a range of banking services
But questions remains… How affected are banks so far?
How about their revenues?
How about profitability of the new entrants?