I asked three experts who they believe needs FinTech the most, and their insights were as diverse as they were compelling. From lagging banks struggling to modernise to SMBs seeking financial agility and underserved communities in need of better access, their responses shed light on the transformative power of FinTech.
Paul, CPA and Managing Partner of Law Firm, Velocity
I think the people who benefit the most are the ones traditional finance has historically underserved. Like small business owners, freelancers, lower-income individuals and anyone who doesn’t fit the outdated mold of traditional finance.
In the case of small business owners, they need fast, flexible financing but don’t always get that kind of support from banks. Mountains of paperwork, ridiculous collateral requirements, and approvals that take forever — that’s what you’re up against. And of course, sky-high interest rates. With FinTech platforms, there’s better access to these much-needed resources. They offer instant loans, automated bookkeeping and better cash flow management.
Freelancers face the same kind of challenge. No steady pay check means traditional banks see them as risky. FinTech steps in with digital banks that cater specifically to gig workers, helping them manage irregular income, automate tax savings and get paid faster with lower fees.
Then there’s the lower-income population, often locked out of the financial system due to credit history or lack of banking access. In the US, millions rely on unethical payday lenders because traditional banks don’t see them as ‘profitable.’ FinTech is offering them real alternatives like no-fee banking apps, microloans with fair interest rates and credit-building tools that actually work. It’s financial inclusion without exploitation.
To sum it up, if traditional finance worked for everyone, FinTech wouldn’t exist. But the reality is, many individuals and businesses have been left behind. FinTech is levelling the playing field.
Ruben Galindo, CEO of Airtm
FinTech isn’t just about convenience. It’s about access, opportunity and economic mobility. Nowhere is this more evident than in the Global South, where millions of digital workers power the global economy but remain underserved by traditional financial systems. These professionals—remote workers, AI annotators, gig economy participants and entrepreneurs—depend on FinTech to bridge the gap between earning and accessing income.
In my day to day, we see the disconnect between businesses that want to pay their global teams efficiently and workers who struggle with slow, expensive or inaccessible financial systems. The companies leading the future of work, including AI firms, global marketplaces, and outsourcing platforms, need a better way to compensate their workforce. Traditional banks weren’t built for this reality. They reject transactions, impose bureaucratic hurdles, and create inefficiencies that hinder both businesses and workers.
As global workforces become the norm, businesses that prioritise their workers’ financial well-being will be the ones that attract and retain the best talent.
That’s where Airtm changes the game. Airtm provides companies with a payout platform that ensures their global workforce gets paid efficiently, fairly and on time. Businesses can send payments in stablecoins, shielding workers from inflation and currency volatility. Meanwhile, workers gain financial independence, accessing their earnings without delays or excessive fees.
Jeff Le, Managing Principal at 100 Mile Strategies
For California, the state is a place of haves and have nots, especially as a state with an increasingly high cost of living and a growing population under the poverty line. Reliance on key state and federal government services continues to grow.
A big reason for FinTech tools and services is for access to historically underserved communities. In California, more than one in five do not have a traditional bank account. This is largely disproportionate to communities of colour and seniors who may not be fluent in brick-and-mortar services.
Part of the reason that is also top of mind – connecting services and access – is the concern over fees but go towards services like money transfers and payday lenders since they are naturally underbanked. The other piece is over the ability to keep minimum account balances and are hit with overdrafts that could be avoided.
And as cash becomes rarer, FinTech plays a key role in providing streamlined service delivery – with as the phone apps – to make payments and bring in regular individual financial accounting.
Finally, there are a number of aspiring California small business entrepreneurs who do not necessarily have access to traditional credit or banking services. Many products in the FinTech space have found ways to offer lending alternatives and more tailored services that utilise data to make access to capital more possible and tangible.
