Fintech, disrupting Finance.

I am about wrapping up a product critique for a mobile app whose business is to provide micro-credit to would-be borrowers. My musings are on how Fintech really is disrupting Finance and it is much needed and a good thing. Banking is seemingly inefficient — mostly because they do not innovate — are costly, conflicts of interest abound, are prone to unethical behaviour, and, not least, able to generate huge (financial) crises. Enter “big data” that is (evidently) transforming the quality of lending. Lenders now can have direct knowledge of the quality or let me say, the state of their clients’ health-perhaps appetite to borrow. This is Fintech and it has a role to play in development in emerging markets or otherwise.