As we approach the latter half of the 2020s, the fintech sector is experiencing a profound shift.
The Thredd team
November 01, 2023
Thredd CEO Jim McCarthy recently shared his insights in a fireside chat with PYMNTS.com, offering a deep dive into the future of fintech. His perspectives on innovation, regulatory changes, and the evolving landscape provide valuable foresight for businesses navigating these turbulent times.
Regulatory upheaval and market realities
Recent changes in Washington have sent shockwaves through the financial services sector. The removal of CFPB Director Rohit Chopra and potential agency restructuring signal a new era of regulatory uncertainty.
However, McCarthy sees opportunity amidst the chaos.
We're finally seeing what I would consider to be the real washout...It's going to be a case of winners and losers
Jim McCarthy
CEO, Thredd
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Innovation and compliance
Despite regulatory challenges, innovation continues to thrive. McCarthy emphasises, "Where there's a will, there's a way." We're leveraging AI to streamline processes and help our clients navigate risk and compliance more effectively.
Adapting business models
Successful fintech firms are adapting to pressures on interchange fees, particularly in Europe. Many are moving to fee-based models and focusing on value-added services. As McCarthy notes, "We have clients that serve the thin file, unbanked, underserved customers... and they're not making their money on interchange."
Looking ahead
While the dust hasn't settled on regulatory changes, we at Thredd are committed to supporting our clients through this transition. As McCarthy says, "We're playing straight through it for our clients."
Ready to navigate the changing fintech landscape? Contact Thredd today to discover how our flexible solutions can help your business thrive in 2025 and beyond.
For a more detailed look at McCarthy's perspectives on the future of fintech, read the full article on PYMNTS.com.
