A new frontier is opening on the fintech battlefield private banking.
Recent innovations such as robo-advisers could reduce the need for wealth managers, particularly among mass-affluent clients.
Technologically savvy competitors are already competing fiercely with some bank services, such as retail banking and lending to small companies. Fintech start-ups claim to make finance easier for the man-on-the-street, with products such as digital wallets and crowd funding.
Now these hungry...