With an increasing number of neo banks emerging and getting more news coverage, I thought it would be interesting to analyze the effect of FinTech companies on traditional banks. There are broadly three types of startups currently receiving a large amount of VC funding, looking to challenge traditional banks. The first kind are building robo advisors and other complimentary financial advisory tools to replace the good old (human) financial advisor. Then there are money transfer businesses such as TransferWise (now called Wise) eating into traditional banks’ high fees for such…
How Innovative FinTech Startups are Disrupting Traditional Banks – a Venture Capital Perspective
