With the fast changing industry of Fintech, new developments are predicted to alter the direction technology will have. According to “What’s Next for Fintech? 3 Predictions for 2017,” Fintech will take on a heavier role in the traditional banking industry.
The first prediction as mentioned in the article talks about the “changes in regulations.” With a new political leader, financial technology regulations have been an anticipated topic. Depending on how the new president alters regulations, financial technology may have more or less opportunity to expand and grow its influence on the market.
The second prediction is from “partnerships between fintech and traditional institutions.” This mainly focuses on how integrated fintech will be with the banking industry. If fintech chooses to partner with traditional bank, more regulations may be enacted and cause possible limitations to development.
The third prediction is “personalized advice from banks.” By developing a way for fintech to analyze each specific consumer, it can create the best fit action on optimizing investment. With this, fintech is able to integrate jobs from multiple sectors into one.
If all these predictions turn out to be true, fintech may be on a path to dominate the financial industry.
http://www.nasdaq.com/article/whats-next-for-fintech-3-predictions-for-2017-cm750508
Interesting article! Do you think that more regulations will be in the future of Fintech? I think it will be harder to move entirely from traditional banks so it appears that stringent regulations may be in the future of fintech.