Frequently Asked Questions
Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century. Originally, the term applied to technology applied to the back-end of established consumer and trade financial institutions. Since the end of the first decade of the 21st century, the term has expanded to include any technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment and even crypto-currencies like bitcoin.”
The traditional financial services giants dominated for hundreds of years, so how are they now being disrupted? Here are just some of the reasons that gave rise to alternative finance:
Major driving forces include, the millenial generation, migration of talent from incumbents to Fintech….
Fintech is a broad category describing an entire market. And it’s quite hard to try and get your head around this rapidly evolving market. But knowing the landscape can have great advantages…
Fintech startup is what often comes to mind when thinking about this sector. This industry is, relatively speaking, the new kid on the block when compared to a financial services system that has existed in the same form for hundreds of years.
But don’t let its newness fool you into thinking its revolutionary potential is only for the realm of maverick startups looking to press the restart button on the entire financial service industry.
Fintech’s increasing popularity, ability to generate huge profits and astronomical growth are only some of the reasons to consider getting into a start up now. This is the time for Fintech startups to really make a lasting contribution toward making financial services more transparent, efficient and to bring access to finance when there are so many barriers within the traditional finance model….
The financial system needs massive change. The monopoly on the global flow of money held by monolithic institutions makes us all vulnerable. Two billion people around the world aren’t even included (currently unbanked) and those that are, you will often find they aren’t getting the best deal from their financial service provider. Not only are we, as a population, left in precarious states such as global debt bubbles leading to huge crashes, but on a more individual level there is genuine room for more customer engagement and a better customer journey.
It’s now possible to wrestle back control from institutions that are ‘too big to fail’ and build a Fintech fortune of your own. You don’t need Fight Club character Tyler Durden to bring an army and wreak havoc. Technology and an innovative approach can now let individuals like you establish a financial services business that won’t bring down the big players, but will at least create some level of competition for them….
A Fintech venture is exciting, regardless of whether you are a startup or an incumbent looking to diversify into this new disruptive space. That said, launching a Fintech venture is a challenging task that needs to be approached with careful strategy and planning.
It’ll come as no surprise when I say that the current financial system needs radical change. Traditional banking and other financial services businesses need to evolve or risk being left behind in the wake of the current technology and changing consumer behaviour-led disruption. Let’s face it, the old system was known to lack transparency and, as in some cases, the old models didn’t put the customer at the centre of their business model….
With these FREE Regulated Fintech Advisory Resources you can successfully navigate the start-up process, because the changes in financial services are even bigger to deal with. Banks, insurers, investment managers and any other types of financial services firms are facing bold disruption, by start-ups and global multinationals alike.
As the disruptive world of Fintech teeters on the cusp of greatness, two very clear business models are emerging. The golden, growth-fuelled unicorn and the die-hard cockroach. I believe that neither are the future of Fintech. I believe that a new breed of Fintech firm is in the making.
Regardless of how lucrative a market is, high barriers to entry in Fintech often makes it less viable or significantly increase the cost of entry. In my opinion, there are only three fundamental barriers to entry in Fintech:
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