The concluding session of the BIIA 10th Anniversary Conference was a presentation by Alex Trott of Acenture concerning the new phenomena of FinTech and the implications on banking and credit information provided valuable insight how Fintech players upset the banking system and with it information flows about lending. Here were some of the key messages:
- Banking Revenues at Risk from Attacks by Digital Disruptors
- Growing investments in FinTech
- There is a cacophony of FinTech Innovations and Players
- Fintech Startups are Redefining Customer Expectations and Large Digital Leaders are Redefining Industry Boundaries
- Lending Solutions Offer End-to-end Credit Services to Small Businesses
If revenue will be at risk so will be the demand for credit information. The question is whether banks will be able to catch up? A fascinating topic with potentially great impact on credit information services!
What are the solutions, what are the implications? Read the full presentation: BIIA – Accenture Fintech Trends v2