Is the rise of fintech companies a threat to traditional banking in SA?
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GUEST – Kokkie Kooyman – Banking analyst and director at Denker Capital
The banking and financial sector are rapidly evolving and South Africa has jumped straight into the fintech curve, growing the sector exponentially in the last decade. The rise of fintech companies has prompted widespread debate and discussion about the potential for them to take market share away from traditional banks.
The rise of fintech companies in South Africa poses both a threat and an opportunity for traditional banking institutions. While fintechs have disrupted the market with innovative solutions, often offering more convenient and affordable services, traditional banks still hold significant advantages.
The banking and financial sector are rapidly evolving and South Africa has jumped straight into the fintech curve, growing the sector exponentially in the last decade. The rise of fintech companies has prompted widespread debate and discussion about the potential for them to take market share away from traditional banks.
The rise of fintech companies in South Africa poses both a threat and an opportunity for traditional banking institutions. While fintechs have disrupted the market with innovative solutions, often offering more convenient and affordable services, traditional banks still hold significant advantages.