What Does The Future Of Fintech Look Like?
Is the financial services industry headed towards a major upheaval? If the rise in the number of fintechs popping up over the last several years is any indication, then the short answer is yes. But there is much more than meets the eye when it comes to new technology in the financial services sector.
Fintechs, emerging financial technology companies, are innovating and continuing to break dominance in the way we lend and borrow money, pay for goods and services, and transfer funds between accounts and overseas. And growth in this sector doesn't show signs of slowing any time soon. Investment in fintech is projected to remain strong, and the demand for it among savvy consumers and forward-thinking businesses is expected to rise.
According to a report published by KPMG and CB Insights, fintech funding reached $2.9 billion in the third quarter of 2016 alone. This upward trend is being fueled by the need to solve the changing requirements of today's digital consumer and adapt to the way they prefer to transact.
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