Fintech vs Traditional Banking: The Economy of Digital Payments and the Race for the Future

Key Points

• This article explores the competition between traditional banking and fintech, focusing on digital payment efficiency and its impact.
• Analyzed competition between fintech and traditional banking systems.
• Examined the efficiency of the digital payments economy.
• Reviewed the impact on consumers and financial market participants.
• Fintech shows superior efficiency in reducing transaction costs compared to traditional banks.
• Neobanks offer innovative business models that attract consumers.
• The digital payments economy influences consumer behavior significantly.