Fintechs Surge, Traditional Banks Lose Ground, Report Says

Imagine banks are like big stores, and fintechs are like new, smaller stores popping up.

The big stores are losing some customers because the new stores are faster and use cool tech.

These new stores are called fintechs, and they include digital banks and companies that lend money.

The old banks struggle with high costs and slow technology, making it hard to compete.

Because the new stores are doing so well, investors are betting on them instead of the old banks.