The lines between financial services (FS) and technology, media and telecommunications (TMT) firms have blurred to the point that the roads are a free-for-all and previously distinct sectors are colliding.
We think many companies will be transforming and not only embrace fintech-driven business models but figure out how to navigate wider and more crowded lanes with approaches that make the most of FS and TMT’s combined strengths.
The most used features in financial application all over the globe
Money transfers and payments
Savings and investments
Fintech impact on financial services and market stability
- leading FinTech providers and successful alliances between start-ups and incumbents are becoming systemically important
- the current legislative base doesn’t cover all the issues related to the activity of non-bank institutions
- the use of cryptocurrencies may cause price volatilities and affects payment systems
Despite the challenges above, the FinTech industry doesn’t intend to slow down and will only continue to surprise with brand-new models of collaborations between young start-ups / service providers and established banks. However, it is more apparent in recent years that many start-ups are now registering their company in offshore jurisdictions for the obvious low tax, flexible legal framework as well as the time and cost efficiency in setting one up.