drive.google.com · 2019 · 2711d

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.

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Metrics in this report

Cloud Infrastructure Deployment Cost

100dollars

current

Cost to deploy cloud infrastructure today (vs. $100,000+ ten years ago)

Cloud Infrastructure Deployment Time

1days

current

Time to deploy cloud infrastructure today (vs. months ten years ago)

Consumer Trust in Banks

28percent

U.S. consumers who trust banks to be fair and honest

IT Cost Allocation to Maintenance

75percent

Portion of IT budget spent on maintaining brick-and-mortar infrastructure in financial services incumbents

Shopify Revenue Growth

45percent

Year-over-year revenue growth for Shopify in Q3 (period unspecified, circa 2019)

Synthetic Fraud Detection Rate

3percent

Percentage of synthetic fraud caught by incumbent AML/compliance systems