Fintechs Hock Their Wares at Money 20/20

A decade or so ago, fintechs were seen as barbarians at the gate, ready to disintermediate and replace the incumbent firms. Nowadays, most just want to get acquired by large financial institutions. Or, it seems, large tech firms. That’s the scuttlebut from Money 20/20 in Amsterdam this past week, where CNBC reports “fintech firms positioned themselves as attractive partners, and possible takeover targets, for industry giants vying for a slice of the trillion-dollar global payments market” such as Apple and Facebook. Many of these fintechs see big tech firms as the future of financial services and want to get in the action early. Perhaps they will end up disintermediating traditional financial firms after all.