FT: The virus has crushed the challenger bank dream

Title says it all, but stepping back a nice article summarising the split we see today in Fintech: B2B is booming, B2C has problems, with many firms in this sector engaged in fight to the death over limited funding and a fixed pool of customers. About a five minute read, but paywalled.

Comment: based on my involvement in Fintech since the late 1980s, I’ve seen many innovation cycles. The latest isn’t any different, except for the level of hype and outrageous claims made about the future of disruption. Best line from the article: “The idea that the likes of Monzo and Revolut can do anything banks can do but better is crumbling.”