I’ve been fascinated by Dublin’s Fintech community of late. It’s active and exciting and with loads going on every day. Contrary to belief its not that new and neither is the concept and the idea around Fintech.
Fintech is largely understood to be a cosy marriage of ideas, solutions and capabilities between Finance and Technology . True but it certainly doesn’t tell the whole story or indeed define what this is really all about.
Fintech is future commerce, its the act of dis-intermediation and breaking away from what we know to be the norm. In finance that means it threatens banks and other traditional financial service providers for the very services that they have been market leaders in for so many years. Technological advancements are so rapid and the pace of chance so fast so people and companies are second guessing where the next phase, trend or enhancement is coming from. Companies are scrambling to be the next innovator, enhancer and trade processor in the areas of infrastructure, money and payments and markets.
The fact that so many people from so many different backgrounds are engaged and interested proves that Fintech has serious staying power and will advance the way we operate, transact and trade now and into the future without exception.