Expansion, disruption and competition are the defining themes of our respondents’ outlook for 2019. The race is most definitely on. “It will be the year when more digital banks and platforms come of age, driving more competition between traditional high street banks and amongst themselves,” said one leading fintech. “Big banks will start stepping up and competing with the challengers,” said one investor.
As there had been “a concentration of investment” into challenger banks and alternative lending and financing platforms in 2018, noted one investor, the disruption of traditional financial services sectors would continue and would be driven in 2019 by factors such as open banking and the growth of the regtech and insurtech segments.