Payments emerge as growth area in fintech
The fintech sector now comprises a critical mass of start-ups across many different sectors within financial services. Payments and financial advice are a key area of focus, and now, aligned fields such as insurance and regulation are emerging.
There are lots of different types of fintechs currently being developed, says Scott Price, founder and CEO of peer-to-peer real estate lender PropertyShares.
“Fintechs span a number of sectors. For instance, there are many fintechs in the alternative finance sphere. These include crowdfunding platforms, peer-to-peer lenders and marketplace lenders. These groups provide debt-based funding, equity-based funding, donation-based funding, as well as rewards-based funding,” Price says.
“We are also seeing a lot of fintechs in payments and remittance services, which provide payment gateways or international money transfers,” he says.
Fintechs that exploit blockchain or distributed ledger technologies and cryptocurrencies are also an important part of the fintech sector.
Blockchain is a particularly buzzy area within the fintech space. Victor Jiang, founder of local venture capital firm Sapien Ventures says it is a particular growth area due to the amount of capital that has been injected into blockchain-based ventures.
To read more, please click on the link below…
