Fintech - old wine in a new bottle

Will fintech revolutionise banking services or is it more hype than substance?

A V Rajwade 

A V Rajwade In the last few months, fintech has been attracting a lot of attention; the valuations of some of the companies seem astronomically high. (Recently, a UK company attracted valuation in excess of $10 billion, well in excess of its gross earnings, and when there is no profit!) Will fintech revolutionise banking services or is there more hype than substance? In a recent paper, the European Banking Authority (EBA) defined fintech as “technologically-enabled financial innovation that could result in new business models, applications, processes or products”. EBA also classified ...

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First Published: Wed, September 13 2017. 22:40 IST