Fintech-led Decentralized Finance Disruption and Adaptation to a Shifting Landscape
The financial services industry is in a constant state of flux. This includes recent radical shifts may seem recent – The financial services industry has been witness to and many previous ground-shifting eras, including the introduction of computing into banking systems, anytime banking with ATMs (automated teller machines), and the internet and mobile technology shifting the mindset to anytime-anywhere. With the advent of every significant change, the financial services industry has been able to adapt and withstand the disruption.
The movement led by Fintech, or financial technology, is another major shift, underpinned by radically different business models that are
led by new innovative technologies, business structures, and the digitization of adjacent and consumer experience in every segment of digital business and engagement. This shift, coupled with mounting regulation and compliance pressures and disruption from the Fintech ecosystem, is forcing the established financial services industry not only to rethink innovation and business models but also device systems to stay competitive, innovative, and malleable for future disruptive shifts that may occur.
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