Considerations on Fintech Adoption and Engagement: 3 initial key points to open up the conversation

Carlos Miranda Levy • 28 March 2019

One of the questions in a recent application interview from Unreasonable Group asked for the top 3 indicators/criteria to determine moving forward with a Fintech program. I'll use my answer to the question to open up the exploration of this quickly evolving and increasingly adopted innovation with the potential to transform the very fiber of businesses and affect society in general:

Here are my initial 3; let's see what else we can come up with:

  1. The potential for mass adoption and scale of Fintech and the choice of Fintech based solutions, both by individual consumers, organizations and financial service providers.

    •  Although rapidly growing and with even faster and larger growth expected, Fintech remains in most cases a promise and at early stages of adoption and implementation. Many unknowns and uncertainties are yet to be determined, from users adoption to the impact of existing, new and changing regulations, and in particular real life usage scenarios and practices by consumers, businesses, providers and middle-men organizations.

  2. The rate and impact of the arrival of conventional financial and banking organizations and service providers in the Fintech scene.

    • This has implications about the future viability and/or the exit strategies for newcomers and innovators, in the face of competition, market penetration and potential acquisitions.

  3. Reliance and dependency on other technologies, sectors and developments for implementation, adoption and growth.

    • For Fintech to take off and thrive, a range of other technologies and sectors must advance and mature as well. And while Artificial Intelligence, Big Data, Machine Learning and RegTech are becoming more mature, commonplace and with reliable providers, other technologies like blockchain and cryptocurrencies remain in a fragile, easily disruptible stage and lacking real case scenarios of mass adoption and real life impact.

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