Asian banks vulnerable to fintech disruption, report finds
Banks reliant on transaction fees will struggle to compete with fintech firms
The Monetary Authority of Singapore’s latest financial stability review has found banks in neighbouring countries could be at risk from disruption caused by fintech firms due to their reliance on payment fees.
In its report, the MAS assesses the extent to which fintech companies could disintermediate Asian banks and erode their operating income over the next five years.
“The competitive threat and its corresponding impact is expected to vary across business lines,” the report says.
The
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