Banks Using Similar Methods to Beat Fintechs

Big banks like Citi and JPMorgan Chase are trying to beat fintechs at their own game with launches of new products; the traditional credit card model has come under threat from various fintech companies looking to upend the big banks and credit card companies; Citi, Chase and American Express have all started to offer the ability to turn their cards into installment loans; while the product is viewed as more innovative it could hurt profits; fintech firms like Affirm have established a place in the market that has forced these traditional brands to play defense; fintech executives have not been scared by the recent moves as it helps to point to the fact that they are doing something right. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.