Fintech's World

The fintech industry welcomed multi-billion dollar investments in 2019. Where is the most growth, and how are incumbents dealing with digital disruption?

Since the introduction of the first credit card with a magnetic stripe in 1966, financial technology has come a long way. Silicon Valley may not have birthed the term “fintech”, but it has certainly helped catapult its applications into the mainstream.

Leveraging everything from basic apps to the blockchain, the changing dynamics of fintech are creating new investment opportunities every day, growing its appetite with every new megadeal.

Check out the graphic which highlights the global growth of the fintech industry, the services with the most staying power, and major M&A developments of the past year as traditional institutions scramble to deal with this digital disruption.

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European Banking Federation Calls for Cryptocurrency Regulation

From NewsBTC –

“The European Banking Federation (EBF), which represents Europe’s largest banking groups, unveiled its vision for digital currencies and cryptocurrency regulation. The group called upon governments and businesses to develop a framework for bitcoin regulation, pointing out that further research and ongoing evaluations of rules should be made.

In particular, the group proposed that a comprehensive framework for cryptocurrency regulation based on existing anti-money laundering laws could be applied. It also acknowledged that the blockchain, which refers to bitcoin’s distributed public ledger, provides a number of interesting opportunities for financial institutions and the collective ecosystem.”

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Apple Pay, Google Wallet Making Inroads, but Consumers Still Not Buying It

From The Street –
“Digital wallet use among consumers may not match the level of the media buzz that greeted Apple Pay when it launched last fall, but the newfangled apps are gaining some acceptance with consumers and retailers.

Apple, Google and the other digital payment providers are not releasing any hard numbers on how many people are ditching cash, credit and debit cards in favor of paying with a smartphone, but early indicators are that some retailers are seeing about 1% of their transactions coming from digital wallets, primarily Apple Pay.”

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