When traditional finance has dubbed fintech

“Like all sectors, finance is in the throes of a technological revolution. In this period of upheaval in uses and means, historical players most often choose to ally themselves with start-ups.

In 2017, online banks enjoyed a market share of only 6,5% in France, according to an ACPR study. However, these fintech pioneers appeared two decades ago - Banque Cofevi in ​​1997, ING Direct and Fortuneo in 2000, Boursorama in 2002… This example alone illustrates the slowness of adoption by most of the new related technologies. to finance. Public trust - more difficult to achieve when it comes to money and heritage - is of course involved. But things are about to change. The twelve online banks referenced by the ACPR study gained 1,3 million new customers in 2017, or 33,5% of the “conversions” of prospects recorded by sector. The history of neo-banks is similar to the journey of start-ups in finance. […] "

Alain Clot, President of France Fintech, speaks on the subject: 

“The retail banking professions have never been global, for example, while digital tools allow truly international players to emerge. These new technologies - IA and Blockchain - associated with the liberation of data, framed by the GDPR, and the emergence of ways of consuming specific to millennials, are revolutionizing both the journey and the use in finance. The best is therefore yet to come for the fin-tech ”