THE BRAVE NEW WORLD OF FINTECH 3.0

摘要

The first generation - Fintech 1.0, if you like - was when the first wave of start-ups appeared in the mid-20005. I saw them as falling into four camps: renew-ers, wrappers, replacers and reformers. Renewers were the fintech start-ups that offered improved access to existing bank services, and their target clients were the banks themselves. Wrappers were very similar to renewers, as in they wrapped themselves around existing bank structures, but instead of working with banks, chose to work against them. Replacers wanted to get rid of banks. Finally, there were the reformers. They were an extension of the replacers but had broken free of even looking at the banking system, as they saw themselves serving new markets. So the renewers, wrappers, replacers and reformers that made up the first generation of fintech startups have made a dent on the banking system but, in most cases, they have been since been absorbed by the system or act outside it.