How payments technology is changing the business of finance

Traditional banks have been around for centuries and have essentially controlled the world of finance and customers. In a world where banks are seemingly constantly increasing interest rates and off the back of the global financial crisis, many people are looking for new ways to control their own money without the input of banks. Recent figures from a study by Yougov show that consumers continue to trust banks, but 66% of Brits believe that they do not work in the best interest of customers. Over half of the people involved in the study believe that banks may be the cause of another global financial crisis. Recently fintech businesses have introduced new products to the market that allow consumers to take control of their finances. These businesses are changing the future of the financial industry all together and could have a massive effect on global banking. Here are four ways that Payments Technology is changing the business of finance.










