Fintech has been a key component of the payments market for a long time, but has become even more prominent in recent years, threatening payments incumbents from a multitude of angles. Not all emergent fintech is necessarily a threat. Fintech start-ups are introducing new products and services that are making payments easier, quicker, and cheaper for banks and other incumbents.
Discover the drivers behind the fintech boom, and the dynamics of the accelerators and incubators that allow fintech start-ups to take off.
Find out the main areas in which new technology is threatening to disrupt consumer payments.
Understand the pros and cons associated with the various strategies that banks can use to boost their involvement with fintech.
What technologies are startups leveraging to attempt to disrupt the payments market?
In which sectors will fintech have the most impact and cause the most disruption?
What strategies should incumbents pursue to respond to fintech-driven changes in the market and take advantage of the new opportunities on offer?
Global investment in fintech is growing rapidly, boosted by the creation of several accelerator programs in London, New York, and elsewhere. Banks are responding with their own schemes to identify and nurture fintech innovators.
Fintech is affecting several aspects of consumer payments, with peer-to-peer (P2P) payments, mobile payments, biometrics, and blockchain technology all threatening to significantly change the dynamics of the industry.
Banks are using a number of strategies to combat the threat posed by fintech entrants, including acquiring key targets and partnering with companies that will complement their own services.