17  23.7  6.3  Figure 1  Residual debt towards the ESM (billions of euros)  70 60 50 40 30 20 10 0  Greece  Cyprus  Spain  Source: Based on ESM data available at: https://www.esm.europa.eu/assistance/programme-database/programme-overview.
It also stresses the importance of thinking about the current systems in the background. New business models Fintechs typically challenge the most profitable parts of banking business by offering targeted services and using lean organizations. Competition may hence lead to lower margins in banks. In the short run, this may put a strain on profits in some incumbent institutions, given their heavier organizational structures.