Fierce competition between FIs and independents expected to fade

Fierce competition between FIs and independents expected to fade
Tags: Bank / Credit Union, Distributors / ISO / IAD, Retail / Off-Premises, Trends / Statistics
March 5, 2006

ePaynews.com: Traditional banks typically fear non-banking firms but most observers believe both financial institutions and independents will have to co-exist in the future. For many non-bank entities, financial services are a simple value-add and allow the leveraging of a large, existing customer base. Many retailers offer basic financial services and choose to widen their scope, while technology players may establish a streamlined way to deliver financial services or identify an untapped market and use their agility for competitive advantage. Banking analysts believe financial services activity by non-banks is increasing.