Finance Industry Should View Fintech an Enabler, Not a Disruptor

New research from TABB Group suggests that declining revenues and reallocation of capital will advance the ongoing digitization trend.

The global fintech industry is growing to capture market share from incumbents in different areas of financial services. Fintech’s greatest impact to date has been seen at the retail end of market, however, the opportunity to expand and collaborate in capital markets is growing day by day.

TABB believes fintech to be seen as an enhancer to facilitate new business models, as well as a catalyst for businesses practices entering the digital age. According to Alex Tabb, “The capital markets digital transformation is a continuous evolution that will revolutionize every financial services firm’s strategy”.

Until now, most of the firms have been attempting to add complex technological requirements into the legacy systems which have led to issues to increased risk and extra support costs. TABB explains the emergence of new opportunities like cloud and mobile technologies, open service architectures and API’s.

The growth in financial services activity requires firms to bring technology to the limelight by including it as an integral part of important business vision. This, in turn, requires firms to organize, collect and retrieve data as real-time on a regular basis. Firms, can now no longer avoid addressing non-functioning business models. The research also explores the picture of capital market growth in the digital age.