Fintech Takes Center Stage At Money 20/20 Conference
The future of fintech took center stage at Money20/20 this week in Las Vegas. With 3,000 companies in attendance looking to disrupt the future of financial service industry, it's clear that fintech is still in its infancy.
Money 20/20 is the world's biggest event covering payments and financial services innovation. Technology has altered the way we manage, spend, and borrow money and the event highlights many of the key players driving this change.
RBC shared its thoughts on the event, saying that Money 20/20 supported its view that "FinTech broadly remains in early innings."
Venture Capital was notably interested in four key areas at this years event:
- Real Estate
- Insurance Tech
- Digital Advice
- Solution providers for complex areas of financial services
This was shift from previous years where RBC noted that the event was dominated by more consumer facing technology's including market place lending and wallet providers.
RBC also highlighted that Alipay represented the largest opportunity given the sheer size of the Chinese market. Alibaba Group Holding Ltd (NYSE: BABA) looks to expand its userbase from 450 million to 2 billion over the next decade.
One thing is certain: There is less competition between the fintech startups and the large financial institutions, as they know they will need each other to drive the future of fintech innovation to the mainstream.
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