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Fintech boom gathers pace as start-ups attract record sums

Mar 01, 2018 - The Daily Telegraph (London)

INVESTMENT in online finance startups hit an all-time high last year of close to £20bn, in a threat to the dominance of traditional high street banks. An explosion in mobile banking and digital transactions has put lenders with big branch networks on the defensive, as consumers increasingly try services from fast-growing online competitors, such as mobile bank Monzo or foreign exchange service Revolut.

A report by consultancy Accenture shows global investment in so-called financial techno...