ABSTRACT
There is a problem: Who will be the winner of the ongoing rivalry between banks and FinTechs, including BigTechs? The digital environment is gaining more attention from a business competition point of view. Even this issue has been accelerated by the COVID-19 pandemic. Therefore, the strengths and weaknesses of the main market players require analysis and the identification of success factors of financial institutions in the current and future market. It impacts disruptions in the market because of the different battlefields of competition under digital circumstances. That is why these questions arise: how are banks and FinTechs progressing regarding new business strategies and models? What are the advantages of digital competition? Who will be the winner in the financial services market? Should the regulator change its attitude to the principles of digital competition? In this chapter the authors try to answer these questions, or at least provoke a discussion on this subject.
