Fintechs vs. Traditional Banks: Frost & Sullivan Uncovers Who Will Survive the COVID-19 Business Disruption - PRNewswire

Webinar looks at how this massive transformation will impact consumer preferences for traditional banks and fintechs

SANTA CLARA, Calif., Oct. 5, 2020 /PRNewswire/ -- The COVID-19 pandemic has forced banks to accelerate their digital transformation initiatives, with some banks achieving their full-year plan in the first half of 2020. But, by doing this, have they secured their future? Frost & Sullivan believes this may still not be enough as they start to feel the pressure from badly bruised SMEs and an adverse impact on travel and tourism, retail, and other industries.

Frost & Sullivan invites you to the upcoming webinar, "Future of Banking," on Oct. 14, 2020, from 11 a.m. to 12 p.m. EDT. Join fintech research experts Clare Walker, Industry Principal, and Shailendra Soni, Principal Consultant, to learn about trends, growth opportunities, and challenges to shape your strategy for 2020.

For more information and to register for the webinar, please visit http://frost.ly/4la.

"It is a time for banks to rethink their bank branch and ATM network, and what they intend to deliver from them," explained Walker. "The lending industry will be reshaped forever, bringing in learnings from the pandemic and introducing new parameters to assess the credit risk of consumers. Technology adoption to provide the entire lending process online will become critical, as will loan processing speed."

Soni noted: "Banks have a unique opportunity to embed financial services in the lifestyle of consumers, but also keep some part of the way they do business traditional. Most importantly, banks need to understand that they need to go to the consumer, rather than trying to get consumers to visit them."

Attend this webinar to discover:

What will happen to the branch networks, and how will ATMs transform?
Can alternative lending providers challenge the dominance of banks?
Will consumers prefer saving their money with banks or with fintechs?
Will fintechs survive the disruption, and, if so, which ones?

The event will also be recorded and available for on-demand viewing at http://frost.ly/1ti.

About Frost & Sullivan

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SOURCE Frost & Sullivan