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Fintech axe to fall on a third of banking jobs over next 10 years

Fintech axe to fall on a third of banking jobs over next 10 years

April 1, 2016

A report from US banking group Citigroup predicts that more than a third of banking jobs in Europe will disappear over the next decade as new financial services technology takes over.

In its Digital Disruption report, Citigroup said 37% of jobs at European banks will go, with the employee headcount dropping from 2.89 million in 2015 to 1.82 in 2025. Numbers hit a peak of 3.26 million in 2007, just before the financial crisis.

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