Traditional Banks and Fintech: The Current Market Situation
October 13, 2026
Professor Kostas Markides stated that traditional banks have won the first battle against fintech companies. Although fintech has changed the way banking services are provided, large banks remain dominant in more complex services. Many consumers use fintech for daily transactions but keep their main bank account with traditional banks. This phenomenon creates the next round of competition. It is estimated that traditional banks and fintech will coexist in the future.