The accelerating pace of technological change is the most creative force—and also, the most destructive one—in the financial services ecosystem today.

For a long time, new market entrants found it difficult to break into the financial services industry. With the changing times, FinTech disruptors have found a way in. Disruptors are fast-moving enterprises, focused on deploying innovative technology or process in every genus of the financial sphere- from mobile payments to insurance. They target the most profitable elements of the financial services value chain and restructure them with resilient digital practices. This is a disruptive blow to the historical incumbents who offer important but archaic services. Keeping pace with technology is, therefore, critical for financial services enterprises to thrive.