Could the fintech sector disappear by 2030?

Sam Boboev
Oct 29, 2020
Credits: 123rf

According to the report “Fintech 2030: The Industry View”, there was a surprising and common opinion: by 2030 there may not be a fintech sector at all.

Fintechs are not predicting their own demise, of course. But there is a serious reflection on what the long-term future of the fintech sector looks like, with many seeing a future where financial services will be so embedded into other technologies and therefore our lives that the term fintech becomes essentially meaningless.

What do you think?

Today, it’s almost redundant to use the term “internet business” or “online business”. Every business has some sort of online presence, even if it’s just a Facebook page and a Google listing, making every business online.

Embedded finance has the potential to make every business a fintech — or at least blur the lines so that it’s no longer easy to tell who is a fintech, and who is not.

I think this prediction makes sense because there is less and less room for growth in the banking or the financial sector alone.

And if the fintechs want to grow they move to other sectors or other sectors will move into fintech.

No matter which way the sectors move the borders will disappear.

#fintech #banking #digitalfinance #digitalbanking

https://www.linkedin.com/posts/sirojboboev_fintech-banking-digitalfinance-activity-6727496196807512064-Q3rQ

--

--

Sam Boboev

I am a fintech enthusiast and product leader passionate about crafting simple solutions for complex problems. Subscribe https://www.fintechwrapup.com/