Banks See Payments Fintechs as Biggest Competitors

A survey released today by Promontory Interfinancial Network showed that 66% of 543 bank executives view payments and money transfer platforms as the biggest threat; this includes companies like PayPal, Stripe Venmo and Apple Pay; part of the threat is that payments companies continue erode the need for ATMs and the increased usage of person to person payments; the report also broke down other areas that bankers fear including online lending, online investing and crowdfunding; the Crowdfunding industry is an area that bankers fear the least; the banks included in the survey skewed more towards banks of less than $1 billion. American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.