FinTech is changing the world of financial services, and with good reason. Institutions are looking for ways to increase efficiency, reduce costs and increase customer satisfaction. Consumers are looking for innovative and cost efficient ways to transact, lend and raise funds. When most people think of FinTech today, they look at the recent years of rapid expansion and innovation, but the reality is that the financial services industry and technology have an almost 70-year-old love affair, from the introduction of credit cards in the 50s to the creation of the ATM. When the Internet hit mass markets in the 90s, technology in all fields elevated to new levels with e-commerce allowing for the globalization of almost any product or service. The result of introducing technology that we now take for granted, like credit cards and bank machines, was that banks were enriched, not threatened. While the credit card and ATM provided an enhanced service, crowdfunding, roboadvisors and payment apps can be seen as a replacement of the way we do banking altogether.
At CH&Co. we understand the Fintech phenomenon and as such, periodically produce newsletters on a variety of topics to keep our network informed. This booklet is a collection of some of our favorite topics, which we hope will spark some valuable conversations with our clients, colleagues and other important players in our industry.