The Intersection of Technology and Finance
The rise of FinTechs is real.
In 2015, according to a report by
, "global investment in FinTech companies totaled US$19.1 billion in 2015, with US$13.8 billion invested into VC-backed FinTech companies, a 106 percent jump compared to 2014, and a record year for VC-backed FinTech investment."
Banks are participating too, the report discusses. More banks are now viewing FinTechs as partners rather than adversaries.
Lofty financial expectations and multiple investors rounds does not guarantee success or deem some of the FinTech startups as legitimate. As with any emerging technology, a leveling affect will occur weeding out those companies that offer real solutions to those that offer very little.
However, the FinTechs are disrupting the Financial Industry landscape, creating attractive business models that solve real consumer and business issues.
This month, we examine some of the technology ideas that are driving FinTech interest and prompting banks to rethink their strategies.
Here's to bits and bytes.