`Financial Tech` Will Disrupt Business Models Globally.

Financial services is about to experience the redefinition of its traditional business models as the proliferation of Internet-enabled smartphones and four technology platforms in online payments, money transfer, asset management and crowdfunding emerge in global markets. A seismic decline is occurring in the use of high street outlets in developed countries as consumers demand more convenient and easier ways to manage their financial service requirements. In emerging nations, where banking networks often don’t exist, the mobile wallet (M-Pesa) has already become a banking substitute.