The Five Phases of Fintech (2005-2027)

Chris Skinner writes about the five phases in the development of the fintech industry; phase one was from 2005-2014 and it was about disruption where new fintech platforms focused on disrupting the banks; phase two from 2014-2017 was about discussion where banks and fintech platforms began to talk and the banks learned more about what these platforms can offer; we are now in phase three 2017-2022 which Skinner says is all about partnerships as there are dozens (possibly hundreds globally) of examples of bank-fintech partnerships; phase four from 2022-2027 will be about integration where open banking and open APIs become fully integrated into the banking system; finally, phase five he says will be about renewal where banking will be integrated with fintech and big tech. Source.

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