In this article, the author Rohi Arora actually responds to a previous Forbes article which argued that fintech is failing, an article that was also covered on our own blog. As my response to that article began to touch on (https://blogs.scu.edu/finis/2017/02/13/three-reasons-fintech-is-failing/), while some fintech companies may be failing, as a whole, fintech is undoubtably part of the future of finance. The most significant reason fintech is thriving and will like continue to is that it as allowed access to capital to small to midsize business owners, who were previously a highly under-served market for investment. What technologies integration with finance has done is removed entry barriers and hurdles to receive capital that were previously in place and prevented small business owners from receiving capital. Technology has undoubtedly disrupted the status quo in an old industry and while many will try to hold off the fintech influence, as we have seen in countless other industries, the power of technology to shift how an industry operates is very strong.
Link to article: https://www.forbes.com/sites/rohitarora/2017/02/22/3-reasons-fintech-is-thriving/#59723c5c1017