Chapter 2

Disruption and Disintermediation in Financial Products and Services

Why Now?


What accounts for the development of Fintech at this time? In the last decade, the importance of the Millennials has come to the fore. This generation now constitutes the largest population cohort. Their intense utilization of mobile devices extends to their experience of new, innovative financial services and products. Millennials are also different from previous generations in terms of higher education attainment, lower rates of home ownership, and attitudes toward (distrust of) the Big Financial Institutions. The last decade has also seen dramatic advances in technology which enable Fintech entrepreneurs. These developments include cloud services, ...

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