Fintech companies captured approximately $150 billion in banking revenue globally in 2024, representing 5% of total banking revenue, according to McKinsey’s Global Banking Annual Review. That share is projected to reach 8-10% by 2030. The competitive impact extends beyond direct revenue capture. Fintech competition has forced banks to reduce fees, improve digital capabilities, and restructure their operations. The cumulative effect is a banking industry that operates more efficiently but with thinner margins than a decade ago. Measuring Fintech’s Competitive Impact on Banking The impact of fintech on banking competition can be measured across several dimensions. Fee compression is the most...