FinTech is not a trend, it isn’t anything when one gets down to it. It’s just a delivery channel for services that replicate those that already exist. Consolidation by acquisition and failure is an inevitable consequence of the current state of the industry.
And that’s the con: all those people who thought they were being smart by banking on their phones really aren’t. They are just buying a MARB bar because they didn’t look carefully enough at the label, or because they thought that buying a MARB bar sticks it to a big corporation, not knowing that, if MARB Corp gets a big enough market share, it will be absorbed by a big corporation and if it doesn’t it will die and its assets will be bought by, yes, you’ve got it, a big corporation.