10th March 2016 Church News.
The majority of bankers believe FinTech will drive huge transformation in retail banking over the next five years, leading to the automation of retail banking, according to the latest annual report on retail banking produced by the Economist Intelligence Unit (EIU) and banking software provider Temenos. A strong majority (64 per cent) of 203 global banking executives questioned for the report believe retail banking will be completely automated by 2020. 65 per cent think peer-to-peer (P2P) lending will be available via banking platforms; while 57 per cent believe more money will flow via FinTech firms than through traditional retail banks.
