Fintech as a sector is coming of age. Venture capital investment is higher than ever, the infrastructure and hardware is becoming more prevalent and adoption levels, both among companies and consumers are finally gaining traction. Why is this? There are a number of factors making it a conducive climate for fintech. First of all there’s a genuine desire for innovation. The financial crisis did irreparable damage to the image of banks and traditional finance institutions. People want a change. The issue is the speed of change. Unlike other tech sectors, disruptive startups focusing on fintech won’t gain the trust of consumers or enterprises overnight. Although it almost appears as if fintech has suddenly exploded in 2014, it’s actually proved a gradual process to arrive at this tipping point. Alongside this genuine desire is a world well placed to embrace fintech in terms of devices and infrastructure. It’s not just the continuing growth in smartphones across the globe, there’s also the development of digital wallets and the evolution of mobile point-of-sale systems. Of course some challenges still remain. User adoption is not where many fintech companies would like it to be yet and regulation remains a barrier to change, but the disruption of a centuries-old industry is now well under way and will only continue in the coming years.
To purchase your copy of the report or to sign up for an annual StrategyEye membership to gain access to all their networking events and intelligence on the global technology markets, please contact firstname.lastname@example.org.
The StrategyEye Team
Please also see bobsguide Lead Journalist Nicole Miskelly's round-up of the event.