“The term “fintech” has become all the rage; investors and media can’t stop talking about it. Many people also have been talking about the “bubble” in the tech industry, but could there be a “bubble” in fintech, as well?
The Wikipedia definition for financial technology is pretty daunting, and states global investment for fintech has increased from $930 million in 2008 to $12 billion in 2014. It even mentions Bitcoin and startups like Lending Club, TransferWise, Prosper, Affirm and Wealthfront.
The signs of a bubble are everywhere as banking executives like Sallie Krawcheck are leaving traditional banking jobs for startups. Even 60 Minutes featured a story about it that aired on May 1, 2016.”