If you ever wondered what all the Fintech fuzz is about and how it may or may not affect your business, read the special written by the Economist.
It gives a very clear overview of what Fintech is general is and how it can gradually bite bits and pieces away from the traditional industry untill there is not much left.
There is not much protecting the financial industry. Regulation is basically the only hurdle most fintech companies have to cross. Other than that, everything seems to fall in their favor:
- There is not a whole lot of love for the financial industry (putting it mildy)
- Millenials will be the new big spenders and tech is engrained in their system
- With no legacy systems, fintech can operate more smoothly and efficiently
- Venture Capital has money to burn and not afraid to take risk
Read the full article here