TechCrunch
Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses
In an attempt to reboot the global economy, central banks slashed interest rates to almost zero, resulting in an era of cheap money. First, it incentivized investors to fund promising (and, in many cases, not so promising) young tech companies. Over the past decade, a dizzying array of challenger banks, e-money services, digital wallets, and more have managed to claw market share away from the legacy incumbents.