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Vipera Plc

What are the biggest risks fintech poses to banks?

It has become something of a truism in the banking industry: the rise of innovative fintech solutions are posing an ever-growing risk to the established banking business models.

Is this really the case? Banking customers are notoriously resistant to change, with the ‘big five’ banks – Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander UK – still accounting for 80 percent of the UK retail banking market. In short, we have yet to see a true challenger bank break up the established order in the banking sector.

Vipera (LON:VIP) is a true pioneer; present at the dawn of mobile banking over a decade ago, enabling the first steps taken by banks to provide a smartphone based customer experience.

Today Vipera’s proprietary bank-grade platform Motif powers over 4 million apps across the globe for the world’s leading banks & retailers, enabling mobile banking, mobile payments and mobile marketing at the frontier of market possibilities.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.