Great reports last weeks from Goldman re FinTech, Bitcoin and implications for the sector!
How much do finance incumbents stand to lose tech disruptors? A lot, according to Goldman Sachs. Over $4 trillion in addressable revenues and $470 billion in profit at traditional financial services companies is at risk of being disrupted by new technology-enabled entrants, says a recent report by the Wall Street giant. The investment bank took an in-depth look at what it calls the “socialisation” of finance and analysed the potential growth of what it sees as the main sectors benefiting from the changing times: crowdfunding, wealth management, payments and lending. It defines the “socialisation” of finance as the impact of technology and changing behaviour on financial services markets. (Why miss an opportunity to brand something?)