Revolut, Robinhood and others have seen a great deal of growth in the last couple of years as consumers have started to consider digital offerings with lower fees and better user experience; banks have taken notice and it is only a matter of time before banks cause a fintech unicorn to go belly up according to UK based research firm Autonomous Next; bank like JPMorgan Chase and Santander have begun to ramp up their digital offerings, especially for millennials, so they can better compete with the fintech startups; as offerings become more competitive banks will ultimately win because they can handle the increased costs; the consumer will be the biggest winner as they will end up with the best, most cost efficient banking tool. Source.
