📢 🔴 Fintech and the Uberization of Banking 📢 📉

It is no secret that traditional banking is threatened by Facebook, Google and Apple, who have already obtained licenses to operate as financial entities. This phenomenon is the result of dissatisfaction with the banking sector inherited from the crisis of 2008, and particularly among young people.

Approximately 33% of millennials say they don't need a bank at all. And to the technological giants are added fintech, to finish threatening the traditional business with new payment systems, loan services or investment companies. These 'fintech' are 'startups' that provide financial services; in the first half of the year there were about 15,000 in the world.

According to a PwC report, traditional banks fear that this technological wave could eat up to 25% of their current business during the next five years. Investors injected more than US$22 billion in financing in 2015, 75% more than in 2014, according to Finnovating's report.