By targeting markets that are underserved by traditional banks, neobanks and fintechs are quickly gaining ground on incumbents, one strategic segment at a time. Many traditional banks now find themselves playing catch-up, but they are often hampered by complicated IT architectures and conflicting business priorities.
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Banks
Banks in Asia’s financial hubs such as HSBC Holdings Plc and Citigroup, Inc. are finding that the disruption from the coronavirus outbreak is helping them push back on a threat from a breed of virtual upstarts.