Fintech threat to big banks fizzled in 2022 as rates rose - report15 Feb 2023—yahoo.com
By Hannah Lang
(Reuters) - The competitive threat of financial technology companies to big banks diminished over the past year as rising interest rates constricted funding, a new report from Moody's Investor Service found.
A decline in venture capital funding in 2022 particularly hurt fintech firms that rely on outside capital to fund their operations and acquire clients, Moody's analysts wrote in the report on Wednesday.
The report cited figures from CB Insights that showed global fintech...