What the next five years for Fintech investing will bringDec 13, 2016 Blog Connectivity , FinTech , SMEs
In 2016 many more people and machines are online than we have ever had before. At the moment there are three billion people connected to the internet. That’s 695,643,130 more than 2013. In five to ten years’ time, the figure of three billion is expected to double to six billion.
All the connectivity will create opportunities for new businesses and SMEs. Fintech plays a big part in the development of these businesses in the hyper connected world due to the data which is gathered. Innovation is going to happen all around the world and you will continue to see this happen in the most rural places like, but not limited to, Africa and India. It is these people in the rural areas utilising innovation to make services possible that make sense for the population.
We will start using data to create better credit scoring and better risk assessment which will make the next five years great for Fintech investing.
This article was based on an interview with Jalak Jobanputra which you can watch here.