The disruption of finance by fintech startups is well under way. Young companies are finding new ways of rethinking everything from mortgages to insurance to currency conversions. This is a transformation that is shaking up the businesses of some of the biggest companies in the world.
Funding in the sector is surging to new heights. Online lending is booming, attracting a huge share of total investment, while there’s increasing interest in both insurance and the many uses of blockchain. Partnerships are being formed with startups working with each and incumbents to unlock rapid growth. However, It’s not all rosy as companies are struggling in payments, with more mature players like Square disappointing.