Financial services in one of the most technology-intensive industries out there. It is of little surprise therefore that in recent years we’ve seen the emergence of so-called “fintech” – the blending of finance and technology to create new business models.
This blog post is the start of a series of reports and webinars that we will produce at Belatrix, examining the key dynamics playing out in fintech, as well as highlighting some of (what we believe) to be ground-breaking work that we are conducting in the fintech space, such as with augmented reality.
Fintech is one of the most promising industries in 2016, because of the potential to use technology in new ways to develop new business models to lend, process or transfer money. Companies such as The Lending Club, Transferwise, or Currency Cloud, to name just a few, represent significant emerging challenges to traditional financial service providers.
We’ve already seen the potential of technology to transform industries such as media. 2016 will be the year that the gradual changes we’ve been seeing in the past few years gathering pace in finance, really come to the fore.
Later this month Belatrix will host a webinar, exploring what we see as the three key dynamics underplaying the fintech revolution:
How traditional banks and financial service firms respond to the fintech threat will be one of the most exciting and fascinating dynamics to watch in 2016 and the coming years. Long-standing frustration with the quality of service at financial providers adds fuel to the entrepreneurial fire of fintech. Fintech will force banks to invest more in their technology capabilities, partner with upcoming start-ups, and also transform their organizations (for example, what talent will they need to hire in order to focus more on the quality of their customer experiences).
Belatrix works with numerous organizations, both more traditional finance providers that are making the shift, as well as digitally-native organizations. We look forward to highlighting some of our work in our upcoming blogs, webinars and whitepapers in 2016.
July 08 / 2020
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