The top 5 fintech predictions for 2016

BI Intelligence

Technology is upending established workflows and processes in the financial services industry. Tasks once handled with paper money, bulky computers, and human interaction now are being completed entirely via digital interfaces.

Given how pervasive financial services are across the globe, the disruption opportunity for fintech startups is massive. Startups, some of which have garnered blockbuster investments, are re-imagining almost every type of financial activity.

Meanwhile, the old guard is trying to solve the puzzle the fintech revolution presents — how can incumbents benefit from the rise of digital, and how can they avoid obsolescence?

A new report entitled "The Fintech Ecosystem Lumascape," created by John Heggestuen, Evan Bakker, and Jaime Toplin of BI Intelligence, Business Insider’s premium research service, breaks down the entire fintech ecosystem and outlines five predictions for the fintech industry in 2016.

Here are the key takeaways:

• Blockchain technology will become more than a fad as global banks commit to a unified blockchain solution for inter-bank transactions.
• Apple, Google, and Samsung will build out commerce experiences around their payments products.
• Business management apps housed on mobile point-of-sale devices will become a necessity for small businesses.
• Mobile ordering apps will become an important transaction channel for quick-service restaurants.
• Traditional financial institutions will respond to the threat of fintech startups by partnering with them.

 Interested in getting the full report? It's yours ! Simply click here to access it.