Sumary of Fintech start-ups are challenging the old guard of the banking world:
- US giant JPMorgan Chase has snapped up the British robo-adviser Nutmeg and may also try to sell home loans here.
- This equals the £24billion market value of Natwest, a group that includes the 300-year old Royal Bank of Scotland.
- However, Stripe, the Californian payments processing giant, is said to be closer to a float on Wall Street.
- This business, started 11 years ago by Irish brothers John and Patrick Collison and with former Bank of England governor Mark Carney on the board, could be worth as much as £72billion.
- Its backers include Goldman Sachs and the Chrysalis investment trust, which also owns a slice of Klarna.