TECHNOLOGY
Disruption Explained Simply ( What , Why , How In 7 Minutes )
From BNPL to Blockchain
Alistair Cotton , co-founder of
Integrated Finance , believes several traits are present in a fintech that proves to be disruptive . “ From my point of view , there are two categories for disruptive fintech . One category is the Aggregators . These are firms combining existing technologies into fantastic , seamless customer experiences with a unique offering e . g . Revolut and market rate FX rates , the BNPL firms incorporating lending directly in the checkouts of retailers . Then there are platforms that are fintechs in terms of infrastructure ( e . g . Blockchain , open banking , compliance software ), allowing more fintechs to easily build products on top of them .”
Technology is driving fintech disruption But it ' s not just about original concepts and meeting marketplace demands .
Cecil
Edwards , Chief Operating Officer ,
Global Processing Services ( GPS ), points out that a combination of technological innovation , culture changes , and demand for real-time services has been responsible for many emerging fintechs answering marketplace calls for something new .
He explains : “ Fintech is driving the widespread cultural shifts in attitudes and
“ Fintech is driving the widespread cultural shifts in attitudes and behaviours towards money ”
CECIL EDWARDS GPS fintechmagazine . com 109