The World Economic Forum in collaboration with The European Sting puts forward the interesting idea that the impact of fintech may be underestimated; financial innovations are unlike other inventions in that they can directly impact the efficiency of the financial sector; they point to the massive impact of M-Pesa in Kenya, as well as Alipay and WeChat Pay in China where fintech has increased the efficiency of the financial system; fintech could help drive economic growth by improving capital allocation and increasing efficiency. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.