The Fintech Revolution Is For Real: 3 Trends to Watch

The Fintech Revolution Is For Real: 3 Trends to Watch


For more than a century, banks have had a monopoly on our money. As a kid, I remember driving with my family to our local community bank where the world of money started and ended for my parents. Banks provided a one-size-fits-all service rooted in a classic brick and mortar experience. The only consumer choice was which color lollipop to grab at the teller window. Fast forward three decades, and this feels like a scene from a Norman Rockwell painting.

We’ve reached an inflection point in “fintech,” where early disrupters are moving from challengers to industry leaders in their own right, as they expand their services, develop their brands, and increase market share. I predict several trends unfolding over the course of the next twelve months:

Fintech startups will start to look more like banks

For the past several years, fintech players have caused a significant unbundling of the traditional financial industry. These startups initially appealed to consumers by making it easier and more enjoyable to perform individual banking transactions, such as moving or borrowing money, saving, investing, or trading stocks. They relied on a superior product experience to hook early adopters and build solid user bases. It’s how innovation usually starts, with startups digitizing the best and more vulnerable parts of a traditional business.