The 7 biggest fintech trends to watch in 2020
Fintechs have done it again.
It’s clear that investors’ appetite for fintech grew in 2019. We continue to be blown away by the level of innovation in the financial services ecosystem, created by companies looking to enable incumbent financial institutions and other early-stage businesses looking to disrupt the status quo.
We also continue to see a proliferation in the number and types of firms providing financial products and services to consumers, from traditional banks to technology and ecommerce businesses. Amidst all the rising trends, here are the key ones we’re on the lookout for.
Banks roar back
Some fintechs have found success in nabbing small slices of the banking pie. While they have attempted to disrupt the financial services ecosystem at-large, their impact has been limited to date and incumbent financial institutions have refused to remain silent. Banks and institutions bolstered investments by creating their own digital services and leveraged fintech startups in cooperative partnerships. In 2020, one thing is for certain — big banks have no intention of scaling down their efforts as the pressure for incumbents to maintain their competitive edge will only continue to intensify.
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