SPONSORED CONTENT
HOW FINTECHS ARE SHAPING
THE FUTURE OF MONEY
A growing number of new, increasingly sophisticated
financial technologies are revolutionizing how consumers
and companies move and manage money.
IN THE NEW DIGITAL WORLD, THE OLD WAYS
of transacting—cash, paper, brick-and-mortar
banking, and investment operations—are often
considered too clunky, complicated, and costly by
consumers and companies alike. Today, people are
embracing the latest developments in financial
technology (fintech), which have made moving their
money quicker and more convenient.
By leveraging data and the latest technologies,
such as the cloud, blockchain, artificial intelligence
(A.I.), and machine learning, fintech firms are offer-
ing services that automate banking and financial
services in an environment that’s both secure and
transparent, taking some of the world’s most es-
tablished forms of financial activity and giving them
a permanent seat in the digital age.
“Money is as old as time. What we do with it is
new, and constantly changing,” says Tracey Davies,
president of Money20/20, one of the world’s lead-
ing events for the payments, fintech, and financial
services industries. Davies
points to fully branchless bank-
ing operations, voice-activated
payments, and cryptocur-
rencies as some of the newer
trends shaking up the sector.
“ We are seeing constant inno-
vation in how we manage, store,
move, borrow, and protect our
money,” she says.
And if the growth in invest-
ment in fintech is any indica-
tion, consumers and business-
es can expect how they make
their financial transactions to
keep evolving. As of November
2018, global fintech investing
reached $35.5 billion across
1,431 deals, a new annual high,
according to a report from CB
Insights, compiled in partner-
ship with Mastercard. The
report states that a combination of record deals
and financing, new global tech hubs, and a more
favorable regulatory environment are positioning
the fintech sector to further digitize the customer
journey and increase collaboration across the
industr y.COLLABORATION AND CO-CREATION
Fintechs have been pushing boundaries and forcing
change in the banking and investment business
for the past few years. After seeing the positive
consumer response and market efficiencies these
efforts have created, traditional banking and
investment companies are no longer sitting idle,
watching their industry be disrupted. According to
a report by multinational professional services firm
PwC, 45% of traditional financial services compa-
nies are partnering with fintech companies, and an-
other 82% indicate they plan to form collaborative
partnerships with fintechs in the next three to five