Digital Banks Could be at More Risk from a No Deal Brexit

A new report by ratings agency Fitch says digital banks could be more vulnerable than traditional banks in the event of an economic downturn or a no deal Brexit scenario; “A cyclical downturn or a disruptive no-deal Brexit leading to higher unemployment or falling property prices could expose weaknesses in their risk management and financial position.”; exposure to consumer mortgages or property lending would lead to the highest level of risk; the Bank of England wrote a letter to challenger bank CEOs saying they need to correct overly optimistic risk modeling. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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