This article discusses the potential power that FinTech can provide for the global world. Currently, there are about 2b out of the 7b people in the world who are connected to the new digital economy. This has left people out from partaking in the new economy. These technologies are transforming developing countries such as Kenya that has transformed the countries currency to digital format via M-Pesa. It is a huge feat in a country that is so far behind from the rest of the world in other respects.
According to McKinsey, FinTech will help increase global GDP by 6%. FinTech will utilize new technologies such as Machine Learning to help reduce trivial work such as data inputting that will reduce total costs and allow machines to do a majority of the work.
FinTech is starting to impact the world at large. There will be a lot to be seen in from this space within the next 5 years.
Reference: https://www.forbes.com/sites/oracle/2017/03/14/how-fintech-is-powering-the-global-economy/