Fintechs Continue to Disrupt as More Traditional Firms Take Notice

Fintechs owned 1 percent of unsecured lending in 2010, they now account for 40 percent; Visa estimates that 5 percent of the credit card market is being disintermediated by fintechs; banks and other traditional financial powers know they cannot sit idly by and watch parts of their business go away; the biggest recent change has been a great emphasis on partnerships with fintechs, the last few years have seen more partnerships than ever before; even banks and credit unions who have not been dramatically effected by fintechs have started to build or partner to take advantage of new tech for their core client base. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.