It’s safe to say we’re in a fintech revolution and the future remains positive — from an investment and demand perspective. The adoption among consumers is rapid and climbing, and large financial institutions are increasingly turning to fintech innovation as a way to stay current with the ever-evolving needs and expectations of their customers.
Fintechs, those operating in the financial technology sector, are developing innovative technology solutions ranging from payments to lending and robo-advisory to trade data management — and consumers and businesses alike are taking note. Bank spending on new technologies in North America alone is anticipated to increase to $19.9 billion this year. And just in Q3 of 2016, fintech funding reached $2.9 billion, according to a report published by KPMG and CB Insights.
What’s driving the massive growth and adoption of these fintechs? There are two primary things at the core of the fintech success: customer experience and a strategic view of APIs.
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