After years of unbridled growth and evaluations that have not always matched up with innovation, the Fintech industry is coming into its own as both large multinational Financial Service Providers and the technology-focused start-ups that operate in the sector find new opportunity. Large banks like The Desjardins Group are benefiting from partnerships with global focused start-ups such as PIN Payment Solution.
Global investment in Fintech has jumped from just $1.8 billion in 2010 to a staggering $19 billion in 2015 and that's just in the United States.
Just in the first quarter of 2016, global investment in this sector reached $5.5 billion. IDC Financial Assets published a report on September 8th entitled ‘The New Collaboration-Based Landscape for Financial Services' which highlights the landscape of collaboration which is currently characterizing this market and changing the business landscape around payment services. In IDC's view, there is every reason to believe the landscape of collaboration between global financial behemoths and tech-focused start-ups seems likely to continue.
Global gains as Fintech takes off
These relationships are allowing innovation to be funded and streamlined thanks to national linkages and the ability to troubleshoot across large already established networks.
Some say the industry is cooling off but it seems more like it is simply maturing and coming to its own. As global payment service and identity software and hardware solutions continue to mold and shape the world of convenience we find ourselves in, there will always be a need for safe and secure transactional platforms. Firms that can adapt will see huge earnings as they better meet the demands of global customers.
Global security is essential to financial service providers. Securing digital data channels and payment streams central in the race to rule the skies and control the digitized payment space.
Many are in the game and yet there is still plenty of room for others to get involved. Fintech is without question one of the most unique venture entrepreneurship spaces to watch develop and flourish as we look to 2017 and the types of platforms likely to change the world.
On small and large scales of all kinds, Fintech service providers are defining a new world of convenience, security and ease.
Innovation and opportunity characterize this market
As payment and identity systems become more secure and integrated, businesses of all kinds can flourish as a result of increased ease of access. The payment revolution is on and it is exciting to behold the way technology will shape the space around where digital payments and secured messaging providers meet. These websites, apps, and hardware devices will shape business in 2017 and beyond.
