This is how a new crop of companies are trying to reinvent banking

Financial technology, better known as fintech, has exploded over the last 5 years. The rate of investment is growing by 45% annually and $13.7 billion was ploughed into startups in the space in the last year alone, according to CB Insights. As investment booms, finance and banking are being transformed by innovations like peer-to-peer models, crowdfunding, and contactless payments. These changes have been driven not by established financial players, but by startups including now-huge players like LendingClub, Kickstarter, and Funding Circle. Amy Nauiokas, founder and president of fintech investment firm Anthemis, says: “Big organisations can see where the markets have …

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This is how a new crop of companies are trying to reinvent banking

Financial technology, better known as fintech, has exploded over the last 5 years. The rate of investment is growing by 45% annually and $13.7 billion was ploughed into startups in the space in the last year alone, according to CB Insights. As investment booms, finance and banking are being transformed by innovations like peer-to-peer models, crowdfunding, and contactless payments. These changes have been driven not by established financial players, but by startups including now-huge players like LendingClub, Kickstarter, and Funding Circle. Amy Nauiokas, founder and president of fintech investment firm Anthemis, says: “Big organisations can see where the markets have …

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