New Research Examines Biggest Threat to Banks

Tearsheet asked 107 financial professionals from traditional financial institutions and fintechs who is the biggest threat to banks in consumer and commercial banking; Amazon was the biggest threat when it came to both consumer and commercial banking; in consumer banking respondents were most concerned about the next 3 – 10 years; challenger banks ranked on par with digital banks started by incumbents in consumer banking but were second after Amazon in commercial banking; Apple, Google and Facebook posed a bigger threat in consumer banking and did not really pose a threat for business banking; one panelist tells TearSheet, “I think the next 3-5 years are crucial for banking to adapt and adopt.” 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.