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Fintech’s future predicted in Team8 report

發表人  研究員    發表日期  2024-05-24    點閱次數  585


A Team8 report, An Unconventional Look At The Future Of Fintech, charts the industry’s path by predicting what remains and changes while taking a few big swings at potential mega-trends. Team8 creates and invests in companies focusing on cybersecurity, data and AI, fintech, and digital health. 

One constant is convenience. Any service that simplifies getting consumers what they want begins with an attractive proposition.

Another truism is you can’t fight City Hall. While some fintechs have been founded to exploit a regulatory loophole, Team8 partner Liran Amrany said a more sustainable strategy is to design companies with a compliance-first focus, acknowledging that regulation’s purpose is to foster trust.

Incumbents aren’t going anywhere. This isn’t the early 2010s when bold startups made their hay by saying they would get rid of the banks. Incumbents in highly regulated sectors like finance are stickier, harder to displace, and significantly more profitable. They enjoy economies of scale and have generated consumer trust.

The report states that the conditions of the last decade from which we are now emerging were anomalous. Amrany said it’s wiser to work with them. Yes, there is a chance a startup could achieve massive scale, but it’s much likelier they’ll get acquired, their service gets replicated by a much better-funded big bank, or their innovation spawns an entire as-a-service sector.

Sorry, folks, but fraud will remain omnipresent. Consider fraud a business where the practitioners want to maximize their ROI. They are early technology adapters, so companies must be vigilant.

Of course, that brings opportunities for fintechs in fraud detection and prevention. Amrany said one of those could be addressing Generative AI’s impact on fraud, which he said is just beginning. Generative AI’s ability to lower the entry bar for scammers and to assist with better fraud tactics at scale could impact entrepreneurs’ abilities to build companies with manageable fraud risk.


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https://www.fintechnexus.com/team8-charts-fintechs-future/



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