Struggles Of Traditional Banks Highlight The Winning Principle At The Heart Of FinTech Innovations

As banks embark on their reporting season, the traditional institutions are setting out how they have fared in a tough global environment. Credit Suisse are due to release year on year results on Thursday, which are expected to show that the restructuring undertaken by the Swiss bank has not yet fed into their share price. Last week’s report from Deutsche Bank showed their first full year loss since the financial crisis of 2008, attributed by their CEO to on-going legacy issues.[1] It is clear that traditional banks are feeling the pressure from the disruptive impact of FinTech innovators.