THE FINTECH ECOSYSTEM REPORT: Measuring the effects of technology on the entire financial services industry
TAGS: Bitcoin | Blockchain | Banking | Fintech | Markets | BI Intelligence | Payments | Coinbase | TransferWise | Ripple | PayPal | Square | Dwolla | Stripe | Lending | Wealth management | Insurance | Exchanges | Venmo | Apple Pay | Samsung Pay | Android Pay | Xoom | Klarna | Adyen | Lending Club | OnDeck | Funding Circle | Betterment | Wealthfront | LendingRobot | Moven | Ally Financial | Atom Bank
In this report, BI Intelligence assesses the state of the global fintech industry, highlights the drivers of its growth, outlines the areas of fintech that are coming to the fore, and explains the different models that are emerging as the relationship between fintechs and incumbent financial services firms evolves.
Technology is upending workflow and processes in the financial services industry. Tasks once handled with paper money, bulky computers, and human interaction are now being completed entirely on digital interfaces. Given how pervasive financial services are across the globe, the disruption opportunity for fintech startups is massive.
Almost every type of financial activity — from banking to payments to wealth management and more — is being re-imagined by startups, some of which have garnered blockbuster investments. Meanwhile, the old guard is trying to solve a puzzle presented by the fintech revolution: How can they benefit from the rise of digital, and how can they avoid obsolescence?
Here are some of the key takeaways from the report:
Companies mentioned in the report include: Lending Club, Stripe, Square, Apple, JPMorgan Chase, Goldman Sachs, TransferWise, China Rapid Finance, Lufax, OnDeck, Dwolla, PayPal, Adyen, Simple, Ally, Betterment, Wealthfront, Vanguard, Fidelity, Charles Schwab, Oscar, Azimo, Klarna, Atom Bank, and more.
Interested in getting the full report? Here are two ways to access it:
In full, the report:
China's IT Ministry: 2017 Saw 'Exponential' Blockchain Growth
Nearly 40 percent of all Chinese blockchain startups emerged in 2017 alone, according to a new white paper published by China's Ministry of Industry and Information Technology.
Revealed by the mini
Back Above $8,500: Does Bitcoin's Rally Have Legs?
Bitcoin (BTC) has bounced back above $8,500, but the rally is not backed by decent trading volumes, the technical charts indicate.
The cryptocurrency closed below key technical levels on Thursday,
Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi
Chris Lee, the former CEO of Hong Kong-based crypto exchange OKEx, has announced he is joining rival platform Huobi as its vice president of global business development.
According to an announcemen
Colorado's Politicians Could Soon Accept Crypto Contributions
The state of Colorado could soon allow political committees to accept contributions in cryptocurrency.
The Office of the Colorado Secretary of State published a new working draft of its "Rules Conc
A $4000 Avalon Miner Only Costs $400 – A Glance of China’s Second Largest Bitcoin Miner Canaan
An Avalon miner was once hyped up to 20,000-30,000 yuan ($3,129 – $4,693) when bitcoin was climbing the peak. While according to the prospectus of Canaan, the ex-factory price of an Avalon miner i
Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike
The cryptocurrency markets are flashing red as the third week of May comes to close.
The total market capitalization of cryptocurrencies has dropped by 14.48 percent to $366 billion in the last 7 d
Bitcoin Hits One-Month Low As $10K Sell-Off Resumes
Bitcoin's (BTC) drop to one-month lows below $8,000 has strengthened the bear grip on the markets, the technical charts indicate.
The cryptocurrency fell to $7,925 on Bitfinex earlier today - the l
Santander Conducts Proxy Voting Blockchain Pilot at AGM
Banco Santander has completed a blockchain pilot that it says improves the process of proxy voting during annual general meetings (AGMs).
For the project, announced Thursday, Santander partnered wi