SCHW - The Biggest Fintech Stories of 2019
Fintech, short for financial technology, is the application of any technology to make traditional financial services more convenient, more secure, and more rapid. Over the past decade, fintech has reshaped the financial industry in a myriad of ways, and this year was no exception. In 2019, big tech companies continued to encroach on the financial industry's turf, traditional financial companies merged to form larger companies, emerging markets were exposed to more technological services than ever before to assist with financial tasks, and a wave of consolidation swept the payments industry.
All of this led to the revelation of the ultimate winner -- you! The average consumer now has access to faster, superior, more secure financial services than ever before. Let's take a closer look at the most important takeaways for investors from the world of fintech over the past year.
For investors, any conversation centered on fintech in 2019 has to begin with the massive wave of consolidation in the space, with three of the four largest fintech deals ever completed happening this year.