It’s no secret that FinTech is booming. The sector is attracting users and investors by the millions, taking over operations that were once exclusively the domain of banks. UK neighbourhoods, such as Shoreditch, Old Street and King’s Cross, have undergone dramatic overhauls as they have become hubs of the industry. Everyone wants a piece of the pie.
Banks fear the rise of the FinTech sector, and with good cause. They’re quickly being replaced by the far more attractive options FinTech companies are increasingly able to provide.
But why is it that the FinTech sector is rising so seamlessly? Here are the 5 main reasons: