Big trends shaping Fintech

Innovations in Financial services & technology

For those of you who are not familiar with FinTech, it is the amalgamation of Financial services with technology. It is difficult to predict how the broader FinTech space is going to change in the coming months & years but there are a few big trends that we can look at to see where it is headed.

Rise of TechFin

Perhaps one of the biggest game-changers has been the rise of TechFin. Startups have been playing a key role in changing the financial landscape dramatically. BATs (Baidu, Alibaba & Tencent) of China & the GAFAs (Google, Apple, Facebook & Amazon) of America have been instrumental in this transition.

WeChat, the messaging app by the tech giant Tencent has more than 1 billion users globally which was achieved in a mere 7 years! WeChat Pay — the payment tool for the same app has more than 800 million users in over 25 countries.

The reach of these platforms with the huge customer base is incredible; with the tech infrastructure to back themselves and the credibility, they enjoy with their client base. With all these factors in place, these technology companies are all set to revolutionize financial services as we know it.