Evolution of traditional banks: fintech and bigtech as the future of finance

Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs acadèmic: 2019/2020 The objective of this document is to analyse the reason why traditional banks are losing ground and how they are adapting at present technological needs. In so doing, we will show the difficulties banks face on account of two main factors, namely: the huge operating costs and few profits but also challenges for the new competitors coming from the new technological advances. In addition, an overview of the new era of competitors that have appeared due to the technological evolution will be explained: fintech, financial companies, with a new version of online banks and bigtech, companies that take advantage of the worldwide market and their great number of customers. It will be shown how they manly work but also their limitations regarding to the regulation.