Fintech Companies Capture Growing Share of Banking Services

Fintech companies are rapidly expanding beyond payments into core banking services, challenging traditional financial institutions. ## Market Share Gains Fintech companies now handle 25% of consumer lending and 15% of small business banking, up sharply from five years ago. ## Service Expansion What started as payment apps have evolved into full-service financial platforms offering savings accounts, investments, and insurance. ## Customer Preferences Younger consumers increasingly prefer fintech interfaces over traditional bank experiences, citing convenience and lower fees. ## Bank Response Traditional banks are responding with their own digital initiatives and fintech partnerships to remain competitive.