FinTechs have been capturing market share at a rapid pace. BigTechs are equally investing resources in reinventing themselves for the global FinTech ecosystem. FinTech is thriving because it has remarkably increased the access to capital and finance for small business owners, including women, minorities, and immigrants, who were underserved before technology leveled the playing field. FinTech has capitalized on the available massive data on potential customers, buyers, and borrowers. The global FinTech market has reached its current potential by tapping the unserved and underserved customer segments. However, a lot is left to be done. |
