During the past ten years there have been rapid advancements in various types of technology, including telecommunications, robotics, artificial intelligence, and just about anything to do with electronics. Certain industries have had to adapt faster than others, including financial services institutions (FSIs), where digital capabilities have been creating new opportunities for startup ventures and corresponding disruption for the traditional payers. The corporate middle market is seeking digital transformation.
The vast middle market differs in many ways from its large corporate and small business counterparts, but one thing that remains constant is the need for adaptation to new digital systems and operating methods. Fintechs are migrating into this space and financial institutions are figuring out ways to properly collaborate and service this important industry segment.