Can fintech deliver, or is its future uncertain?

Liz Lumley discusses the disconnect between the promise of fintech and its impact on people’s lives in an article for The Banker. While a report by the Cambridge Centre for Alternative Finance suggests that the global fintech industry is maintaining growth momentum, Lumley questions whether fintech can truly fulfil its promise to widen access to finance for underserved populations. She also asks whether fintech is a transient trend or a structural change in the financial industry. Lumley notes that fintech companies tend to target segments of the market that are not well served by traditional financial providers, including women, low-income individuals, rural communities, and SMEs.