Goldman, JPMorgan Seen as Fintech Winners While AmEx Suffers
- Autonomous Research survey finds most unafraid of disruption
- American Express, Western Union seen as biggest losers
What's Will Fintech Disruption Mean for Financials?
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Goldman Sachs Group Inc. and JPMorgan Chase & Co. will probably benefit most from the coming wave of financial technology disruption, rather than being supplanted by startups driving the change, according to an Autonomous Research survey.
The two firms have the best track record of implementing technology and will be able to successfully learn from new entrants in payments, blockchain and automated investing, said Brian Foran, an Autonomous Research LLP partner who ran the research firm’s survey this month. Eighty-five percent of the 150 executives and investors predicted selected disruption or a mix of winners and losers, while 14 percent thought banks face a significant threat.