WASHINGTON (AP) — In a story published Jan. 13, 2022, about nominations to the Federal Reserve’s Board of Governors, The Associated Press misspelled the first name of one of the nominees. It’s Philip Jefferson, not Phillip.7 Fintech Stocks That Will Continue To Disrupt Traditional Banking
In April 2021, JPMorgan Chase CEO Jamie Dimon described fintech companies as one of the “enormous competitive threats” to traditional banking. And with good reason. Fintech (short for financial technology) is not just “digital banking.” It’s a different approach to banking that traditional banks will not be able to replicate by outspending their competitors.
You see, cryptocurrency is getting a lot of attention for the way it’s disrupting the monetary system. But before there was bitcoin (CCC: BTC-USD), there was fintech.
What started out as a way to send money from one person to another without the need for a bank (i.e. peer-to-peer lending) has morphed into much more. Today, individuals and businesses can get loans, invest, and pay bills conveniently and securely. And they can do so without ever having to set foot into a bank.
Financial technology is democratizing finance for many individuals who have been left behind by the traditional banking system. The “unbanked” is a huge target audience. But whereas fintech started as reaching those that were unbanked out of necessity; it is cultivating a new audience among those who are going unbanked by choice.
In this special presentation, we’ll look at seven fintech companies that are leading in this space today and will do so well into the future.
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