We cover a lot of FinTech here for the very simple reason that it’s one of the most disruptive tech trends going. If you don’t believe that, either you haven’t been paying attention, or possibly you’re a traditional bank manager in denial.
Certainly there’s a lot of hype around FinTech, like with any new technology, but there’s already evidence that FinTech is upsetting the traditional finance apple cart by decentralizing many of the services we associate with finance.
And its disruptive possibilities are already reaching out beyond the finance sector. In India, telcos are now banks. Meanwhile, distributed ledger technologies like blockchain are starting to take root in the enterprise IT space for all kinds of applications, from tracking cargo containers (and insuring them) to redeeming frequent flyer miles and – in at least one case – building a decentralized mobile network with its own cryptocurrency settlement mechanism. And of course ICOs are the new Kickstarter (at least where it’s still legal).
The list goes on. And FinTech is only really just getting started – which is ironic since the origins of FinTech date back a hundred years. But it’s only been in the last 20 that it began to really take off in more innovative directions, and only in the last ten that it started becoming a more disruptive force, the impact of which has only started to become evident in the last couple of years.
It’s a complex story to tell – but not so complex that it can’t be stuffed into an epic infographic. Here then is a long but fascinating infographic summarizing the history of FinTech, the current landscape, areas of disruption, investment activity, adoption rates and who’s doing what.