The future of FinTechs is filled with excitement and a journey that is changing direction very frequently. It is very possible that FinTechs become big enough to overtake the existing financial firms and subsequently marginalize them. There is also a possibility that they will coexist in a synergetic relationship. Millenials can be a big factor in the direction that FinTech firms take in future. It is highly probable that millenials and digital natives start adopting the sharing economy. The sharing economy would also mean that there is service consolidation and outsourcing. Furthering this cause would be regulations like the second payment services directive (PSD2) and government support. This could make the existence of business functions available as a single qualified offerings obsolete and thereby forcing the established firms to go the FinTech way, i.e., fragment the service offerings into microservices. Irrespective of what the future is for FinTechs, they are causing anxiety in the industry today and helping build a better and more trustworthy business environment for the future.

We see more than a million start-ups and FinTech organizations emerging
across the globe, with multiple overlaps of customer journeys. It is evident that only the ones that address the customer needs and remain profitable will succeed in the future. Nonetheless, the learning and transformation that these start-ups are driving will present an entirely new way of managing finances in the next decade, including probably dismantling the categorization of the industry as a financial services industry

Newfintech team.