{"id":15303,"date":"2021-09-02T21:00:00","date_gmt":"2021-09-02T19:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=15303"},"modified":"2021-09-08T12:51:47","modified_gmt":"2021-09-08T10:51:47","slug":"fintech-vs-traditional-banking-first-round","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/fintech-vs-traditional-banking-first-round\/","title":{"rendered":"Fintech vs. traditional banking: first “round”"},"content":{"rendered":"
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Mike Tyson used to say that “everybody has a plan until they get punched in the mouth.” The Fintech revolution, spurred on by the 2008 crisis and the global pandemic of Covid-19, is shaking the pillars of traditional banking and forcing a paradigm shift in the world of finance. We analyse the entry of these new players into a sector of the economy that until recently seemed immutable.<\/b><\/h3>\n

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The birth and popularity of<\/span> e-commerce<\/b> were followed by the development of payment technologies and platforms tailored to this new reality. <\/span>Online payment<\/b> processors, such as PayPal, global, secure, free, and offering multiple payment options, led a trend where new companies that combine technology and financial services generate an emerging economic sector and are gaining ground in an area dominated by traditional banking.<\/span><\/p>\n

The figures speak for themselves, the <\/span>global fintech market <\/b>was valued at <\/span>5,504.13<\/b><\/a> million<\/b> dollars in 2019 and is expected to grow by 23.58% in the coming years.<\/span><\/p>\n

New technologies<\/b> have entered the financial sector with force, and the so-called fintech, or financial technologies, are taking over a market that is especially <\/span>young<\/b>, ‘digital native’, hyper-connected, and that does not understand the complication, slowness, and exorbitant commissions we have come to expect from traditional banking.<\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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