Remarks
Fintech’s Explosive Growth Has Regulators Scrambling
Fueled by venture capital and changes brought by the pandemic, software is coming for your wallet like never before.
This article is for subscribers only.
“There are more things in heaven and Earth, Horatio, than are dreamt of in your philosophy,” says Hamlet. The parallel in today’s mobile banking market might be, to quote one startup founder: “There are more financial products for more consumers than you could ever imagine.”
Browse potential homes for sale, and Zillow will offer you a mortgage. Buy a pair of sneakers online, you’ll be presented with 16 ways to pay at checkout, from Apple Pay to Klarna. See a stock tip on Reddit, and you can act on it, commission-free, on Robinhood. Should you want to deposit your paycheck directly into cryptocurrency trading app Coinbase, you’ll be able to. (Please don’t.)