In the UK FinTech has a workforce of 60,000 employees and the sector generated £6.6bn in revenue throughout 2015. Every angle of the financial sector is being questioned, reinvented or challenged by FinTech.
‘FinTech’ is increasingly spoken about in the media and in technology circles. Synonymous with the tech start-up scene and a sector boasting major players; FinTech is disrupting sectors such as mobile payments, money transfers, loans, fundraising and even asset management.
Despite FinTech’s fast growing move towards being common-place in most of our lives (with 50% of us agreeing FinTech has helped us manage our personal finances) the various financial crises and media scandals have left a public distrust in the financial sector. The public’s uncertainty about banks is evident, with only 16% of us thinking FinTech ensures more transparency. Only 1 in 10 of us think FinTech can help with pensions, and only 1 in 5 of us thinks FinTech can make saving easier.
FinTech is undoubtedly the future of finance; it is immensely profitable and growing exponentially. The scars of distrust in the financial sector and varying levels of awareness of the sector are challenges for the industry. FinTech Fortnight is here to raise awareness of FinTech and to discuss this transformational sector.
In the UK FinTech has a workforce of 60,000 employees and the sector generated £6.6bn in revenue throughout 2015. Every angle of the financial sector is being questioned, reinvented or challenged by FinTech.
‘FinTech’ is increasingly spoken about in the media and in technology circles. Synonymous with the tech start-up scene and a sector boasting major players; FinTech is disrupting sectors such as mobile payments, money transfers, loans, fundraising and even asset management.
Despite FinTech’s fast growing move towards being common-place in most of our lives (with 50% of us agreeing FinTech has helped us manage our personal finances) the various financial crises and media scandals have left a public distrust in the financial sector. The public’s uncertainty about banks is evident, with only 16% of us thinking FinTech ensures more transparency. Only 1 in 10 of us think FinTech can help with pensions, and only 1 in 5 of us thinks FinTech can make saving easier.
FinTech is undoubtedly the future of finance; it is immensely profitable and growing exponentially. The scars of distrust in the financial sector and varying levels of awareness of the sector are challenges for the industry. FinTech Fortnight is here to raise awareness of FinTech and to discuss this transformational sector.
