Author Rohit Arora offers his alternative view on Chris Myers’ depiction of fintech as a bloom that “is finally coming off the rose”. The first reason Arora thinks FinTech is going to be around for a long time is because traditional players are adopting the technology, and when big players adopt a new way of doing things, it shows long-term potential.
The second reason is that the realities of the marketplace encourage short-term thinking. Myers cites fintech companies’ use of funds for quick growth over innovation as the reason for riskier and less desirable loans. However, Arora states that this applies to all sectors.
Finally, Arora combats Myers’ statement that financial institutions are resistant to change with the fact that the marketplace is demanding it, and these instututions have no choice but to follow. I agree with Myers, as competition necessitates keeping pace with the advances in technology. The advent of mobile payment systems is just one example of revolutionary change in the marketplace, causing companies to divert their focus to eCommerce over brick-and-mortar stores.
https://www.forbes.com/sites/rohitarora/2017/02/22/3-reasons-fintech-is-thriving/#16d886e31017
Mobile payments are indeed future of payment industry, hence I do not see Fintech outdated any time soon. It will be a playground for disruptions in next ten years.