FinTech in Deloitte Innovation
By Louise Brett, FinTech Lead, Deloitte
We are fast entering the second wave of FinTech.
In the first wave, start-ups ‘unbundled the bank’. Swashbuckling new entrants built exciting businesses around individual products in areas like business lending, FX and payments. The FinTech trailblazers weren’t interested in providing the full joined-up bundle of bank services – from current accounts to payments, lending and insurance. They wanted to do very specific things. And do them better and cheaper than incumbent banks.