Synthetic Accounts: The Future Of Financial Services
The financial services industry consists of a myriad of different verticals, the vast majority of which tend to be regulated and operated independently. The result is an exceedingly complex and siloed infrastructure that creates problems not only for end customers, but also for industry players who face obstacles as they endeavor to innovate and better serve their customers.
But what if we were to flip this structure on its head, by starting with the customer’s needs and working backwards? In this whitepaper, you’ll learn:
- How the financial services industry became fragmented
- What happened during the first wave of the fintech revolution (Fintech 1.0)
- Why horizontal expansion is necessary for innovation in financial services (Fintech 2.0)
- The challenges companies face expanding horizontally
- What Synthetic Accounts are and why they’re the key to solving regulatory compliance issues in horizontal expansion