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برگزیت؛ آماده باش در آب‌های بریتانیا و ادامه مذاکرات با اتحادیه اروپا

برگزیت؛ آماده باش در آب‌های بریتانیا و ادامه مذاکرات با اتحادیه اروپا
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Fintech Startups are Unbundling Bank of America s Front Office, as Lender s Profits Decline 16% YoY: Report

Research firm CBInsights has released a new report titled, Unbundling Bank Of America: How The Traditional Bank Is Being Disrupted. The report looks at mortgages, Robo-advisors, trading software, and also examines how Fintech firms have been trying to “unbundle” Bank of America’s front office. According to CBInsights’ report, the BoA and the traditional banking system is “being disrupted across a wide variety of core revenue streams.” The report notes that the banking sector hasn’t been “spared” from the negative impact of COVID-19 pandemic. The BoA saw its profits decline as much as 16% year-over-year (YoY) during Q3 2020 to around $4.9 billion, the report revealed. It also mentioned that the Coronavirus crisis has accelerated key trends in banking, particularly among the younger Millennial consumers, who increasingly prefer digital banking and major online brands over traditional banks or financial services.

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