Using mobile apps like Venmo, transferring funds without a teller, and covering a restaurant tab via a digital wallet are all conveniences consumers have come to value and demand. And they’re all examples of financial technology, or Fintech. In the financial services sector, digital innovations are breaking down barriers, streamlining processes, and bolstering security—with the goal of a more inclusive and efficient financial ecosystem.
Fintech has disrupted numerous “traditional” financial business models. And more disruptions are on the horizon. That requires financial services businesses—in particular, executives responsible for managing risk and fraud, customer onboarding, and compliance—to be ready for the changes, the risks, and the opportunities.
To dig deeper, visit the original article on the Thomson Reuters blog.