The Journey to FinTech 3.0

This roadmap describes the evolution of FinTech from 1.0 to 3.0.  Many startups are starting to look at a B2B pivot and partner rather than compete with the banks and large asset managers who have strong client control.  We are also seeing many large FIs invest in a variety of innovation lab models (FinTech 2.0) – inside their organization, in partnership with organizations like DMZ and Communitech and in some cases with FinTech organizations directly.  At our recent client conference on June 27th, we had a panel of industry experts discussing innovation and where it is most successful.  The common theme was that innovating outside of the FI is likely the most successful strategy.  As a partner to Canada’s largest FIs, we are excited to be part of this FinTech roadmap – we play a dual role as a trusted partner to our FI clients and strategic partner to FinTechs that have complementary technology and need rapid access to the market.  We also see FinTech 4.0 where the FIs move from investing in “point” solutions from FinTech providers to an integrated platform that provides broader value throughout financial services spectrum.