NEW YORK (TheStreet) -- Tougher regulations for banks mean less-regulated companies are likely to take market share from the hobbled industry.
Keefe Bruyette & Woods' analysts believe non-bank financial companies offer "some of the greatest opportunities in finance over the next five years," according to Fred Cannon, who oversees the investment bank's research department.
One area where KBW is particularly enthusiastic about growth prospects is mobile payments. What's more difficult is figuring out how to invest in the future of that business. Many of the most exciting companies dedicated to the space aren't publicly listed. The ones that are, on the other hand, are giants, and anything they're doing with mobile payments at this point barely makes a dent in overall revenues.
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