Bye Fintech. Hello Techfin.

We could not agree more, David!

This article in Forbes neatly positions the TechFin v FinTech debate (if there is one at all) and why we are delighted to have USTechFin.com to complement US-Fintech.com.

"it is the TechFins, not the FinTechs, who are the real challengers.

"The TechFins, not the FinTechs, who are the real challengers." says David G.W. Birch, Contributor Fintech, Forbes.com who is a Fintech Author, advisor and global commentator on digital financial services.  Other points to note:

• TechFins are the technology companies who embed financial services to make their own products more attractive but whose business model does not depend on margin in those financial services.
• Nonetheless, overlay services are the way forward, and this is where the real challenges will come from. [David W. Birch] said in The Economist (“Plug and pay”, 21st November 2019), when talking about bank products such as loans and mortgages being distributed through a bank sales force, financial services products are heavily regulated (as they should be) and this makes them unappealing for Big Tech. On the other hand, though, it is easy for the TechFins to distribute these products. And here there is a battle looming but it is the TechFins, not the FinTechs, who are the real challengers.
• The TechFins are more than happy to have banks, for example, do the boring, expensive and risky work with all of the compliance headaches that come with it.​

Further reading: The Economist (“Plug and pay”, 21st November 2019)