What problems fintech solves?

It’s time to stop talking about fintech funding rounds and come back discussing about the disruptive force that can solve real problems!

Right. But what are the problems that fintech can solve? This is a generic question, but let me write down few examples:

1. Going beyond traditional banking: people are not just looking for basic banking services anymore (and weeks to open a current account). Users now want smarter banking services, allowing them to access a whole range of lifestyle services.

2. More payment and financing options: I am thinking about both business and consumers, from BNPL for casual shopping to financing access to companies that want to scale.

3. A further push on financial inclusion: this is particularly needed in developing countries, but it also applies to specific groups of people in other parts of the world.

4. Move towards a better financial system: does it mean accelerate digitization and open banking? Spread powers with blockchain / decentralized finance (DeFi) powered solutions? Maybe. What’s sure is that we must keep innovating, pushing on improving the whole system.

What is missing? Are there any other key issues that we should address as a fintech ecosystem as soon as possible?

It’s all about dreaming big to solve global problems and not the get-quick-rich schemes that many people seem obsessed with.

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