Depend on what you mean by financial services. For example, no bank can beat crypto in price for remitting ~$1k to Southeast Asia within a couple of hours. I spent years as a digital nomad and there was no traditional fiat solution that came close.

I couldn't even find a traditional solution that beat crypto for converting ~$10k USD in the US to CAD in Canada (although I did have to write a script to do this via crypto and it sometimes took a few days for the markets to align favourably).

On the other hand, I highly doubt blockchain is going to beat banks at their main business of being a middleman between savers and borrowers.