With digitalization and FinTech high on the banking agenda, the disruption of financial services looks like a given. The question, however, is where will the real change come from. Will it be blockchain, real-time settlement, the highly competitive payment space, crowdfunding, or P2P lending?
According to Accenture, global investment in financial-technology (fintech) ventures tripled from about US$4 billion in 2013 to US$12 billion in 2014. There are no less than 20 fintech focused accelerators globally in traditional financial centers like New York and London and increasingly in places like Singapore and Bombay. Fintech has become sexy again, attracting the attention of banks, venture capitalists and consultants globally and introducing an element of innovation to the financial industry that was lacking.
