Summary List Placement
In recent years, we’ve seen a ballooning of activity in fintech — an expansive term applied to technology-driven disruptions in financial services, where financial companies and startups use artificial intelligence (AI) and other tech in their day-to-day processes.
As consumers increasingly turn to alternative, digital methods of managing their finances, tech-savvy startups and traditional financial institutions (FIs) alike are diving into the fintech industry. And investors would be wise to take note of this digital shift.
Fintech Market Stats
The Global Fintech Market is anticipated to grow at a CAGR of around 20% over the next four years. The market value is expected to reach around $ 305 billion by 2025, according to GlobeNewswire.
Additionally, this year marked a watershed moment for the fintech sector, with the once clear distinction between fintechs and financial services proper now blurred significantly. Virtually every incumbent financial institution is now looking inward and engaging in an innovation drive, spurred on by competition from fintechs amid the coronavirus pandemic. As such, incumbents are now actively investing in, acquiring, and collaborating with their fintech rivals.
Fintech Company Landscape
As consumers increasingly turn to digital forms of managing their finances, digital only banks and fintechs have posed a threat …read more
Source:: Businessinsider – Finance