The fintech phenomenon originated as a technology-driven wave of transformation that has progressively deconstructed the traditional financial value chain, enabling new forms of value creation. As a result, competition has intensified and shifted: pipeline value chains have been unbundled into modular services and products, which can now be recombined in innovative ways.
This trend has been strongly influenced by technological innovation. Cloud computing — especially platform-as-a-service (PaaS) and software-as-a-service (SaaS) — has significantly lowered the barriers to entry to advanced financial services, at least in terms of reduced infrastructure costs. That has allowed talent to focus more on business value and less on infrastructure. When artificial intelligence and machine learning emerged soon after — enabling the discovery of patterns and opportunities to manage complex and high-dimensional data sets — they brought profound effects for the entire industry.
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