Traditional banks vs fintech, future scenarios

The future of traditional banks is the subject of an article by Ryan Browne for the CNBC website. Browne has interviewed a bank CEO who said that in the next few years financial institutions will suffer “massive disruption” due to the competition from financial technology challengers. Important is the turning point imposed by the new European legislation, called PSD2, according to which banks have to share their customer data with third-party providers to enable them to create new financial products.