What are the major research challenges in fintech today? originally appeared on Quora, the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter, Facebook, and Google Plus.

There are a number of challenges that I have seen as a researcher looking to gather data in Fintech. A few of these include:

1. Inconsistent definitions – what is fintech? A lot of people think of different categories of companies or technologies as included or not included in fintech, so measuring that on an ongoing basis can be difficult.

2. Data about companies – many fintech companies are private, therefore information about revenue models and partnerships is not always publically available.

3. Diversity/pace of change – fintech is a huge space with a lot of different companies, serving many different kinds of customer segments. We have seen hundreds of new startups enter the FinTech space each year offering new models, products, and services. Because of this it is hard to understand the impact that these new technologies and companies are making on a broader scale.

Despite these challenges, I find research in Fintech really exciting. Financial services is both essential and complex, which means there are ways to improve processes, and outcomes for the people. Technology is inevitable, and COVID is driving this even more, so fintech blends this great opportunity for financial services to evolve using innovation. In addition, FinTech has really enhanced the delivery of payment and financial services to underserved communities and, in a way, has brought financial inclusion to the forefront of policy discussions. The meld of technology and finance to improve consumer experience and access to financial services is truly an exciting space to work in.

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