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Accenture Report Highlights Growing Fintech Banking Market Share

Monday, Jan 07 2019
News
Written by  FinTech Brief Staff

New players in the banking game, such as non-bank payment institutions, challenger banks and big technology companies, have snagged up close to one-third of "new revenue," according to a new report from Accenture. So reports Forbes.

The report looked at around 20,000 payment and banking institutions in seven markets. Challenges from competition from traditional institutions and regulations offer varying degrees of difficulty depending on market. In the U.S., Fintech and banking startups took in 3.5% of $1.04 trillion in revenue, less than the U.K.'s 14% market share, to contrast.

Read the full article from Forbes.

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