How are the banks fighting disruption?
A few years ago, there were concerns over ‘disintermediation’ of the major banks – Fintech disruptors were slowly chipping away at the various services the banks provide. Now, it’s a very different story. The banks are spending up on technology investment, with JP Morgan dedicating US$9B to technology each year.
“It will be difficult for Deutsche Bank to compete against JP Morgan in the next cycle, given the amount that JP Morgan can spend on technology, versus what Deutsche Bank has been able to spend. That’s where the difference between the winners and the losers will appear”
In this video Amit Lodha, Portfolio Manager of the Fidelity Global Equities Fund, explains how banks have been dealing with the Fintech threat both on a global and local scale.
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