OMG!! Fintech is………getting old? Or maturing as this McKinsey article points out. Bound to happen at some point. All the young people that have been instrumental in the fintech revolution should maybe start looking for those walkers and canes.
New regulations, shifts in consumer demands and behaviors and the ever changing market conditions are taking their toll on the fintech sector. This McKinsey article discusses several ways the landscape has changed as many of the incumbent fintech firms have now become mainstream and accepted by consumers just as has happened in the past.
As maturity begins to set in, the risk taking becomes a lot more conservative and stodgy (so to speak). There will always be new and more innovative companies coming along, but valuations and consolidations will now become much more prevalent as the fintech sector matures.
Everything new is old at some point.
Posted by Bill Taylor/CEO-FintekNews
Source: McKinsey & Company