Team8, a leading global fund that builds and invests in companies playing a crucial role in the digital transformation of major sectors, released a new report on the future of fintech, titled “2030 and Beyond: An Unconventional Look at the Future of Fintech.”
Prompted by the rise of genAI and other emerging technologies and trends, the report creates a roadmap for the future of fintech asking three main questions: What Won’t Change? What (Likely) Will Change? And What Could Change Everything?
The report was created by Team8’s fintech leadership team composed of experienced founders and executives at companies such as Mastercard, Bank Leumi, eToro, PayPal, and JPMorgan. In addition to outlining the 2030 vision of these industry leaders, the report features exclusive commentary and case studies from Team8 portfolio companies such as april, 40Seas, Ballerine and, Wisor, as well as key insights from other market leaders including Airwallex, Atomic, Cross River, NEXT Insurance, Orum, Panax and Unit.
Some of the key takeaways from their analysis include:
– Fintech’s Advantage in the GenAI Era: The speed and agility advantage of fintechs over incumbent financial services companies depends in part on incumbents’ clunky legacy technology, leading to incredibly long product roadmaps. Developments in GenAI could allow incumbents to drastically speed up development on legacy infrastructure, leading to faster innovation and negating much of this advantage.
– Embedded Finance Transforming Traditional Industries: Embedded finance has begun to transform traditional companies in certain industries into fintech companies, and this trend is likely to expand further into additional industries like brick-and-mortar, government, and non-profits.
– New Venture Capital Paradigm Shifting Startup Priorities: With a slowdown in venture capital deployment, lower valuations, and higher interest rates, startups have refocused efforts into profitability, leading to new opportunities for fintechs to help finance teams streamline their cash flow management.
Speaking on the value of this collaborative research, Team8 Managing Partner Rakefet Russak-Aminoach said “In addition to taking a broad survey of the existing fintech landscape and near-term trends, the report imagines a future in which incumbents can move just as quickly as early-stage startups, digital identities nearly wipe out fraud, and consumers no longer need to rely on large centralized institutions to custody their assets. We believe this report will both ground and inspire the fintech community to think outside the box, as well as provide valuable insights to founders who are embarking on their entrepreneurial journey.”
To learn more about Team8 or to download a copy of the report, please visit https://team8.vc/rethink/fintech/2030-and-beyond/
About Team8
Team8 is a global Venture-Creation and Venture Capital Fund that creates and invests in companies focusing on Cybersecurity, Data & AI, Fintech, and Digital Health. Team8’s signature Venture-Creation model is designed to identify meaningful problems, create theses on potential solutions, and build and invest in innovative companies that tackle these challenges.
Team8 leverages an in-house multi-disciplinary team of more than 80 company-builders, together with a dedicated community of global C-level executives and thought leaders. Team8 partners with world-class founders and works with them to increase the probability of success via a disciplined, repeatable process from inception through product-market fit, growth, and beyond. Team8’s unique platform brings together specialized expertise across technology, go-to-market, HR, and strategy.
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