Brick and mortar banks took a 1-2 punch from the pandemic and from digital banks in 2020. Some are bouncing back while others are feeling the sting. This sets the stage for this episode on Industry Impacts.
The FinTech space saw huge growth over the past few years and will hit about $22.6 billion by 2025. Ingenuity coupled with AI, ML, and other solutions caused a shift in the FinTech competition landscape. Stripe, Paypal, and Amazon are now seen as competitors with the likes of JPM.
Where does this leave you? Listen in as I explore FinTech, SMBs, and leave you with some food for thought.
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Sources:
- Yahoo: https://www.yahoo.com/entertainment/global-22-6bn-ai-fintech-190000418.html
- NASDAQ: https://www.nasdaq.com/articles/jpmorgan-chase-risks-being-left-behind-in-a-fintech-world-2021-03-17
- Forbes: https://www.forbes.com/sites/forbesfinancecouncil/2021/03/10/how-fintech-is-evolving-in-2021/?sh=72d24d261d0c
- ReadWrite – FinTech Developments: https://readwrite.com/2020/11/03/fintech-development-trends-that-you-must-know-about/
- NASDAQ – NFTs are the latest craze: https://www.nasdaq.com/articles/move-over-bitcoin%3A-nfts-are-the-latest-crypto-craze-2021-03-19
- ReadWrite – Blockchain: https://readwrite.com/2020/07/28/blockchain-a-platform-for-iot-solutions/
- OA Online: https://www.oaoa.com/news/business/truenorth-and-boost-ai-enter-partnership-to-supercharge-digital-customer-experience-with-conversational-ai/article_5544f6a3-5ae2-546b-837e-f1e1e6e2a03f.html
- IT Pro: https://www.itpro.co.uk/security/cyber-crime/359013/fintech-startup-raises-200-million-to-fight-digital-banking-fraud
- Pymnts: https://www.pymnts.com/news/b2b-payments/2021/docyt-small-business-finance-data/
