A New Class of Fintechs is Challenging Community Banks and Credit Unions
LendingFront
FEBRUARY 22, 2021
JP Morgan CEO Jamie Dimon says the banking goliath should “absolutely be scared s—less,” about the rise of fintech and digital payment processors. Growth in the fintech sector is accelerating. New, faster and easier options for processing payments online are swallowing up spaces historically occupied by traditional banks. But Dimon warns that the threat posed by these new payment processors extends beyond the global, big-bank market—they can jeopardize community lenders as well.
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