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S8 E4: Fintech F*cks Around and Finds Out
Fintech Takes
FinTech: A Double-Edged Sword of Opportunity and Overreach
Banking as a service is essential for expanding access to financial services for underserved consumers and businesses, but it has encountered challenges. The influx of venture capital since 2010, especially after 2016, has led to significant growth in FinTech. However, it's crucial to differentiate between banking as a service and other fintech solutions, as not all fintech operates under this framework. This distinction poses a challenge for regulators who struggle to recognize these nuances. Additionally, the overwhelming venture capital environment has attracted many entrepreneurs without adequate experience in financial services, resulting in 'FinTech tourism,' where initiatives are launched without a deep understanding of the sector's intricacies.
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