The FinTech trends will continue for the next decade and beyond, with increased interest in new/innovative products by individuals from all financial scenarios or investment experience. New products (whether it be a mobile app, SDK, web app, or browser extension) will continue to be rapidly introduced into our app stores and inboxes, begging for attention and reaching different parts of the investment and financial world.
However, the market eventually begin the natural trend towards centralization. This is a natural progression towards major market standouts, much like Google has gobbled up search (and beyond), while Facebook continues to gobble up social media and social media marketing / analytics tools. We’re currently at the stage when various solutions are fighting for a portion of the consumers finances, and this will undoubtedly continue. Over time, both the consumer and the general tech financial will push for end-to-end solutions. Companies like Wealthfront may acquire Acorns, Clarity and Final. Big banks like JP Morgan will continue down its path of partnering (ie – their current partnership with OnDeck to utilize their tech to underwrite JPM loans) with the goal of eventually begin acquiring. Betterment may continue to trend towards a Fidelity-like model, or we could see them merge with a Wealthfront to become the behemoth they originally sought to defeat.
Regardless of what or how that happens, the digitization of the financial world will continue to empower the consumer, challenge the institutional banks, and eventually trigger a reaction from the regulatory bodies. Corporations will look to decrease overhead (replace people with tech), banks will devolve to be financial engines as opposed to owning the consumers experience, and consumer adoption as consumer FinTech will reach all facets of our financial lives.