Millennials, the generation born between 1980 and 2000, is a generation of more than 80 million people, and it is the biggest generation in American history. One of the implications of this generation is their view on banking, and especially how the banking industry is next up for disruption due to unmet needs and dissatisfaction. For example are all four of the leading banks in the US among the ten least loved brands by Millennials, and one in three is open to switching banks in the next 90 days.
The disruption of banking is already happening, and at Innovation Center Denmark we have recently written a white paper focused on the development of new financial solutions within the FinTech space. FinTech is the condensed term for financial technology, and it describes the new business area spanning the intersection of financial and technological services and products.
The purpose of our white paper is to provide the reader with a general knowledge of the trends, technologies and companies within the Fintech space in North America. Specifically, the paper is zooming in on trends within Lending, Wealth management, Payments and Transfers. Furthermore, we do also touch upon the fundamental systemic changes enabled by Blockchain and Regulation. If you have not read it already, you can find our previous blog post about Blockchain here.
The white paper was conducted by Søren Gyde, Innovation and Investment Associate, Line Rodil, Innovation Advisor and Anders B. Christjansen, Senior Innovation Advisor.