Woodford Investment Management has taken several fintech positions as the sector embarks on a "quiet revolution" against traditional financial companies.
Paul Lamacraft, fund manager at Woodford IM, said while financial firms have appeared "relatively resilient" to technological developments which have rocked the retail sector, fintech companies are "nipping at the heels of the big banks and are set to bite out increasingly large chunks". Woodford IM: Our outlook for top ten biggest holdings "By disrupting traditional industries, tech-based newcomers can take swathes of market share from old-fashioned incumbents," he wrote. "Much of this is done through disintermediation, cutting out the middle man. "A quiet revolution is already un...
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