Will Traditional Banks Start Acquiring Fintech Banks?

We learned recently that UK digital bank, Atom Bank, is exploring new funding that could lead to a possible sale to BBVA; BBVA already owns 40% of Atom’s shares; industry observers are wondering whether we will start to see a number of mobile app-based banks being picked off by the large incumbents; many of these new banks have added huge numbers of customers very quickly; but the industry is getting very competitive today; one analyst’s view: “There are too many [digital] banks in this space and I struggle to see how they will all be around in a few years.” Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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