With all the forward thinking already concerning FinTech, it is essential to consider its trend going forward.
- Increasing partnership, decreasing competition.
The industry has started to see FinTechs as collaborators. Not only private companies like Paypal and Visa; even banks like Citi are showing a willingness to work with FinTechs rather than against them especially when open banking regulation will take power completely.
- Block-chain will continue to exist.
The banks have and will continue to show interest in Block-chain because of its potential to provide an underlying, interconnected financial services infrastructure.
- Realizing FinTech’s potential to cause a disruption.
Financial services industry that includes Retail banking, Lending, Payments, Wealth Management, Insurance, Markets and Exchange etc. are on their way to be revolutionized with advanced software and hardware advancements made in the technology environment which opens the back door for cross domain, cross platform businesses to operate in more than one industry.
My piece of advice to any job seeker would be to also consider targeting the above mentioned domains within financial services industry as who knows how far this technology could get one to? For those still in doubt. The image below will give you a fair idea of it’s increasing magnitude.
