What EY FinTech services can do for you
Advances in technology, changes in regulations, new competitors and increasing customer demands are transforming financial services and creating a new digital ecosystem. The ecosystem, enabled by digital platforms, brings different parties across industries together to seamlessly collaborate and create new value-added products and services.
Technology is at the heart of the change and will make it easier to bring together the capabilities of the incumbent institutions and the strengths of the FinTechs. This will result in financial services at lower cost, higher speed and at a better quality to more consumers.
EY teams can help FinTechs to grow and scale, and financial institutions to transform and collaborate. Whether you are just starting out or are already a major player we can support you throughout your journey.
We believe that a well-functioning FinTech ecosystem is built on four core ecosystem attributes:
- Talent: The availability of technical, financial services and entrepreneurial talent
- Capital: The availability of financial resources for start-ups and scale-ups
- Policy: Government policy across regulation, tax and sector growth initiatives, including the presence of digital public infrastructure to facilitate financial services innovation
- Demand: End-client demand across consumers, financial institutions and government
The figure below highlights how these four attributes interconnect and identifies the network of broader stakeholders.