A new report by the World Economic Forum shows that more than 40 central banks have begun some sort of...
According to a new World Economic Forum report, tech giants like Facebook, Google and Amazon have enormous potential to disrupt finance; the big tech companies already have scale and brand recognition, something most startups are still looking to achieve; AltFi reports that the 200-page report says: "Financial institutions increasingly resemble, and are dependent on, large tech firms to acquire critical infrastructure and differentiating technologies, the coming collision between financial institutions and large techs leads to tough choices for all firms: become dependent on large techs or risk falling behind."; the report goes on to say fintechs, while successful, have still yet to really disrupt big financial firms as many of their solutions are beginning to be built by the incumbents. Source
Back in April I attended a couple of roundtable discussions in New York organized by the World Economic Forum. Many...
Jesse McWaters leads Disruptive Innovation in Financial Services research project for the World Economic Forum; McWaters believes many fintechs will...
The report is titled "Beyond Fintech: A Pragmatic Assessment of Disruptive Potential in Financial Services"; in a brief summary of the report, the Word Economic Forum says: "Our findings suggest that fintechs have materially changed the basis of competition in financial services, but have not yet materially changed the competitive landscape. They play a critical role in defining the pace and direction of innovation across the sector but have struggled to overcome the scale advantages of large financial institutions."; the report is 196 pages and covers the major verticals in financial services. Source
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