Future Finance

Banks Waking Up to Fintech Threat Throw Billions Into Digital

Can big lenders beat the fintechs at their own game?

Photographer: Krisztian Bocsi/Bloomberg
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Scrappy online financial startups have spent the past few years building buzz, backing and the beginnings of a customer base.

For a while, the world’s banking giants largely ignored them. Now they’re starting to feel the heat—and fighting back with the most formidable weapon in their arsenals: cash.