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The disruptive pattern continues. Will established banks stand by and watch the tech firms eat their lunch? 

Customers want good customer service and value for money from any provider that they choose, be it their bank, internet, mobile, insurance providers etc. The key difference now is that they base brand loyalty on a continuing evaluation of whether they are getting good value for money and service rather than loyalty based on historical brand value; in other words they refuse to get locked in. 

Any new service offering that moves significantly in the direction of genuinely improving customer service and value for money has a good chance of succeeding. In contrast, a new offering that is a thinly disguised attempt to lock customers in will ultimately fail. 

Good article. I would also add that many fintech startups are trying to solve problems that are, at best, minor inconveniencies that customers are not going to spend lots of money to solve.