Forbes: For Better And Worse, Could Banking Become Like Healthcare?

Forbes: For Better And Worse, Could Banking Become Like Healthcare?

Forbes contributor Ron Shevlin shared his ‘Observations from the FinTech Snark Tank’ this week, diving into how banking could become like healthcare – for better or worse. To support his insights, Shevlin utilized data from our  ‘Breaking New Ground in FinTech’ research.

“I said there were three ways banking could become like healthcare–and two out of three would be for the better. Well, here’s the downside: Third-party payers,” notes Shevlin.

As per our report, “Breaking New Ground in FinTech”, Shevlin notes, “there are three basic categories of payers that financial health revenue models can rely on: 1) Consumers themselves; 2) Third-party sellers who pay for advertising and referrals,; and 3) Third-party beneficiaries, who themselves accrue value in some way when a consumer uses the financial health tool, which can be direct monetary value (e.g., interchange) or more indirect value (e.g., employee wellness program that reduces employee churn and/or increases productivity). Omidyar cites WageWorks and Even as examples of fintech firms pursuing a third-party beneficiary (or payer) business model. Interchange (paid by merchants) is another example of third-party payment.”

To read Ron Shevlin’s full article in Forbes, visit the link here.

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