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FinTech trends: From disruption to mature business models

Escrito por Redacción TNI el 27/02/2018 a las 21:37:46
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Support and expertise FinTechs can count on

 

It is not always immediately obvious that Wirecard, one of the leading global specialists in digital financial technology, underpins many FinTechs and supports new FinTechs in getting a product to market. Wirecard enables them to focus on running their business by providing them not only with the necessary infrastructure, but also with their expertise in banking and regulation. Wirecard started out as a FinTech and has since grown and matured considerably. The question is: what options are available for FinTechs seeking to achieve stable growth and gain profitability? The international FinTech scene is expanding. As Deloitte estimates, the total value of FinTech investments worldwide will grow from USD 30 billion in 2017 to USD 46 billion in 2020. Increasing competition is pushing FinTechs towards building an ecosystem of value-added services and expanding their business into new areas. In Europe, where the revised Payment Services Directive, PSD2, has recently come into full effect, there are great and completely new opportunities for FinTechs. While traditional banks are facing serious challenges, new breeds of FinTechs such as PISPs and AISPs are now emerging. The latest trends show that payments and money transfers no longer represent the sole core business areas for FinTechs.

 

Added value is key for profitability

 

Payment Initiation Service Providers (PISPs) can now trigger payments with the customer’s consent. According to a recent Accenture survey, one in three debit card payments and one in ten credit card payments are expected to move to PISPs by 2020. Moreover, Account Information Service Providers (AISP) are offering tailored finance products and money-saving opportunities. Generation Z in particular is likely to choose these services from FinTechs over comparable services from banks. However, customers expect all of these services to be free of charge. In the long term, this represents a significant challenge for FinTechs, especially in times of zero interest-rate policy. In order to continue to exist in the market, FinTechs have to offer added value to their customers. Do you want to learn more about what FinTechs need to do now in order to mature and stay in in the market in the long term? If so, we would like to offer you an interview with our expert Tom Jennings, Managing Director of Wirecard Card Solutions Ltd., based in the UK. He is a well-connected expert of the FinTech industry, dealing with customers like Monzo, Revolut, Soldo and the ‘U’ account, amongst others.