Xavier Lamote, senior director Microsoft Office Division Central Europe, Eastern Europe and Russia, said that, according to a study by Accenture, traditional banks will lose up to 35% of their business, in terms of volume and profit, to players in fintech segment –which are agile and innovative small competitors.
Lamote says that fintech startups do not have a wide offer but they are extremely good at what they do, as they have low costs for entering the market and use the power of cloud and technology to the fullest.