Top banking executives fear that up to a quarter of their business could be at risk from emerging fintech firms, according to research conducted by PwC.
For the study, PwC interviewed 544 CEOs, heads of innovation, CIOs and top management involved in digital and technological transformation across the financial services industry in 46 countries.
Incumbents believe 23% of their business could be at risk due to further innovation in fintech, with traditional banking and payments feeling the most heat.
