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How FinTech has disrupted the traditional financial services model

In this episode of the Agents of Change podcast, EY’s Roger Park is joined by Matt Hatch, EY Americas Financial Services FinTech & Growth Markets Leader, for a discussion exploring how FinTech has disrupted the traditional financial services model and grown since the industry's beginnings, its evolution towards mass adoption, the future of FinTech and the promise of open banking, as well as the opportunities that FinTech offers around greater financial inclusion.

Related topics Innovation in financial services Financial Services Cybersecurity Risk Trust by design

For your convenience, full text transcript of this podcast is also available. Read the transcript. 

Presenters

Photographic portrait of Roger Park
Roger Park
 EY Americas Innovation Leader
Photographic portrait of Matt Hatch
Matt Hatch
 EY Americas FinTech and Private Leader

Podcast

Episode 02

Duration 19m 20s

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The term FinTech, or financial technologies, is a term that started in the mid-90s and evolved into a lot of the innovations around financial products for consumers in the early 2000s.

Over the last five to seven years, it has been explored throughout the rest of financial services, and a lot of other innovations in terms of insurance products, investing products, and the enabling technologies for financial institutions. So, Blockchain, Chatbots, Advanced Analytics, Machine Learning and AI are some of the capabilities that are coming out and helping financial institutions and FinTechs innovate and produce new products and services.

Learning outcomes 

  • The number one reason why customers are not using FinTech products is just awareness, followed by trust, according to the 2017 Global FinTech Adoption Index.
  • It’s a great opportunity for companies, as they get their cost economics and their unit economics down, to service a product to those who don’t have access to financial systems.

In this series

Series overview
(Event List - Manual)

How consumers and SMEs are adopting Fintech

In this episode of the Agents of Change podcast series, EY’s Roger Park is joined by Matt Hatch, EY Americas FinTech Leader, for an in-depth discussion of the key findings from the 2019 EY Global FinTech Adoption Index.
Podcast

Episode 10
Duration
17m 41s

Presenters

Roger C Park

EY Americas Innovation Leader

Matt Hatch

EY Americas FinTech and Private Leader

Full details

How to win in the future of financial services

In this episode of the Agents of Change podcast series, EY’s Roger Park and Nikhil Lele discuss the key findings from EY NextWave Consumer Financial Services research report.
Podcast

Episode 09
Duration
28m 56s

Presenters

Nikhil Lele

EY Americas Financial Services Digital & Customer Growth Leader

Full details