Innovative fintech startups are ready to disrupt the financial services industry, and they're getting plenty of capital to do it -- more than $9 billion in the first three months of 2016 alone.
The rise of smartphones and the abundance of consumer data are driving this revolution. And, this charge is gaining steam, as consumers become more comfortable with their data being collected, aggregated and shared. Nearly 60 percent of smartphone owners say they've used their phones for online banking, and that's just the tip of the iceberg.
In short, the innovative fintech sector isn't putting on the brakes anytime soon. And the growing number of businesses interested in this sector -- from companies involved in money transfer to those in savings, lending and insurance -- is growing.
By: TX Zhuo