How FinTech is Changing Financial Services

A smorgasbord of products and solutions, FinTech describes the dynamic landscape of financial services driven by technology. From startups offering existing services at lower costs, to disruptive innovations shaking up the way we manage our finances, the FinTech industry is set to radically alter consumer behaviour and business processes. Global investment in FinTech hit a whopping $5.3 billion (link) for Q4 of 2016. JP Morgan, alone, invested $600 million (during FY 2016) on Fintech initiatives they said included things like developer API's and "interesting developments" in the bill payments area. Things are continuing to rosy for FinTech in 2017, as financial institutions continue to invest in new and emerging technologies (chart) that will either disrupt or protect them from disruption.