Fintechs are getting a large infusion of venture capital.
In 2018, U.S. fintechs raised almost $12 billion from VC firms, a surge of 120% from 2017. Leading the trend are a handful of startups that have managed to attract millions.
As a result, there's an increase too in the number of private equity firms, including those operating on the behalf of large banks, seeking to fund fintechs.
But the biggest banks also continue to prefer working in-house on tech rather than seeking partnerships. One reason may be compliance concerns — fintechs will increasingly be under pressure to comply with banklike regulations.
Following is a summary of fintech milestones and potential future moves for the industry, according to CB Insights' 2019 Fintech Trends to Watch Report: