How in the Future…Every Company Will Be a Fintech Company
Angela Strange argues that all corporations and consumer-facing businesses will evolve into financial services companies as cloud infrastructure commoditizes the barriers to entry previously held by banking incumbents. She illustrates how a modular stack of fintech-as-a-service providers (payments, core systems, compliance, fraud detection, regulatory) enables non-financial companies to embed banking capabilities directly into their products and business models.
Metrics in this report
100dollars
current
Cost to deploy cloud infrastructure today (vs. $100,000+ ten years ago)
1days
current
Time to deploy cloud infrastructure today (vs. months ten years ago)
28percent
U.S. consumers who trust banks to be fair and honest
75percent
Portion of IT budget spent on maintaining brick-and-mortar infrastructure in financial services incumbents
45percent
Year-over-year revenue growth for Shopify in Q3 (period unspecified, circa 2019)
3percent
Percentage of synthetic fraud caught by incumbent AML/compliance systems