--- title: "Meaning & Key Takeaway of: The financial crisis of 2008 created a…" description: "\"The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global fin..." image: "https://sms4smile.com/quotes/i/29b/taavet-hinrikus-9070_crisis_the-financial-crisis-of-2008-created-a-s_213741.jpg" --- # The financial crisis of 2008 created a seismic shift in… ![“The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.” quote by Taavet Hinrikus](https://sms4smile.com/quotes/i/29b/taavet-hinrikus-9070_crisis_the-financial-crisis-of-2008-created-a-s_213741.jpg) [Download](https://sms4smile.com/quotes/i/29b/taavet-hinrikus-9070_crisis_the-financial-crisis-of-2008-created-a-s_213741.jpg) [Open image](https://sms4smile.com/quotes/i/29b/taavet-hinrikus-9070_crisis_the-financial-crisis-of-2008-created-a-s_213741.jpg) > “The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.” [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The 2008 crisis shattered trust, accelerating FinTech as a response to new demands for transparency and efficiency. **In simple terms:** Crisis broke trust, spurring FinTech growth. Key Takeaway Embrace change after disruption. Themes trust innovation finance technology disruption Mood cautious optimistic Type analytical inspirational When to use this quote - banking reform - startup funding - regulatory change - consumer adoption Key Concepts financial crisis trust dynamics FinTech emergence Questions to Reflect On - How can trust be rebuilt in digital finance? - What role does regulation play in innovation? A Different Perspective FinTech still faces regulatory hurdles and legacy resistance. ★ ★ ★ ★ ★ No ratings yet [Crisis](https://sms4smile.com/quotes/about/crisis/) [Customer](https://sms4smile.com/quotes/about/customer/) [Financial crisis](https://sms4smile.com/quotes/about/financial-crisis/) [Financial services](https://sms4smile.com/quotes/about/financial-services/) [Money](https://sms4smile.com/quotes/about/money/) [Trust](https://sms4smile.com/quotes/about/trust/) ## Related quotes > [“My search for professional/personal harmony led me down the path of asking the wrong question. The question isn’t, “What can I give up today…](https://sms4smile.com/quotes/trong-nguyen/my-search-for-professional-personal-harmony-led-me-down-the-path-of/) Trong Nguyen > [So far, Indian companies have focused more on customer application. This needs to shift to packaged software for sectors such as banking and financial…](https://sms4smile.com/quotes/sanjay-kumar/so-far-indian-companies-have-focused-more-on-customer-application/) [Sanjay Kumar](https://sms4smile.com/quotes/author/sanjay-kumar/) > [Financial services have always been about trust. Perhaps the biggest barrier to entry has been getting new customers to trust an unknown brand or…](https://sms4smile.com/quotes/taavet-hinrikus/financial-services-have-always-been-about-trust-perhaps-the-biggest/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Competition and variety in financial services are always good things.](https://sms4smile.com/quotes/taavet-hinrikus/competition-and-variety-in-financial-services-are-always-good-things/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Traditional consumer finance has been unfair for decades. 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My bill will…](https://sms4smile.com/quotes/jake-auchincloss/the-financial-services-racial-equity-inclusion-economic-justice-act/) [Jake Auchincloss](https://sms4smile.com/quotes/author/jake-auchincloss/) > [We believe digital payments are making financial services more universally affordable, accessible and, therefore, have the opportunity to drive financial inclusion and financial health…](https://sms4smile.com/quotes/dan-schulman/we-believe-digital-payments-are-making-financial-services-more/) [Dan Schulman](https://sms4smile.com/quotes/author/dan-schulman/) > [I want to help create the world's first global currency built on the Internet and built on open platforms and standards such as Bitcoin,…](https://sms4smile.com/quotes/jeremy-allaire/i-want-to-help-create-the-world-s-first-global-currency-built-on-the/) [Jeremy Allaire](https://sms4smile.com/quotes/author/jeremy-allaire/) > [Rising incomes and positive demographics will provide opportunities for retail financial services in India.](https://sms4smile.com/quotes/chanda-kochhar/rising-incomes-and-positive-demographics-will-provide-opportunities/) [Chanda Kochhar](https://sms4smile.com/quotes/author/chanda-kochhar/) > [Travelex has grown into a global business in just 25 years. 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And he really…](https://sms4smile.com/quotes/rachel-maddow/on-rachel-s-show-for-november-7-2012-ohio-really-did-go-to-president/) [Rachel Maddow](https://sms4smile.com/quotes/author/rachel-maddow/) > [My background in financial services and my experience as a state representative have given me the ability to identify our country's fiscal problems and…](https://sms4smile.com/quotes/darlene-senger/my-background-in-financial-services-and-my-experience-as-a-state/) Darlene Senger > [I work in lockstep, hand in glove, with the prime minister on these issues, and as we are supportive to the Eurozone so they…](https://sms4smile.com/quotes/nick-clegg/i-work-in-lockstep-hand-in-glove-with-the-prime-minister-on-these/) [Nick Clegg](https://sms4smile.com/quotes/author/nick-clegg/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) ## More by Taavet Hinrikus > [When a new hire is afraid to roll up their sleeves and get things done, it's a clear sign it's not going to work…](https://sms4smile.com/quotes/taavet-hinrikus/when-a-new-hire-is-afraid-to-roll-up-their-sleeves-and-get-things/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [There are so many instances in banking where 'free' simply doesn't mean free, whether it's opaque overdraft charges or credit card providers that are…](https://sms4smile.com/quotes/taavet-hinrikus/there-are-so-many-instances-in-banking-where-free-simply-doesn-t-mean/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Building a business is a marathon, not a sprint. 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That doesn't mean that they should not be held to account…](https://sms4smile.com/quotes/taavet-hinrikus/sometimes-companies-are-better-placed-than-politicians-and/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [A preoccupation with job title is an immediate giveaway that someone's priorities are not in line with the company's.](https://sms4smile.com/quotes/taavet-hinrikus/a-preoccupation-with-job-title-is-an-immediate-giveaway-that-someone/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [The growth of FinTech has been driven by adoption across age groups, but the demand from the millennial generation to innovate and think about…](https://sms4smile.com/quotes/taavet-hinrikus/the-growth-of-fintech-has-been-driven-by-adoption-across-age-groups/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [As consumers in general, and with Millennials in particular, we're getting used to everything being cheaper, faster, better - and banks aren't keeping up.](https://sms4smile.com/quotes/taavet-hinrikus/as-consumers-in-general-and-with-millennials-in-particular-we-re/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [There's always been a lot of interest in the tech community about how to foster innovation and creativity - both within a company but…](https://sms4smile.com/quotes/taavet-hinrikus/there-s-always-been-a-lot-of-interest-in-the-tech-community-about-how/) [Taavet Hinrikus](https://sms4smile.com/quotes/author/taavet-hinrikus/) > [Traditional consumer finance has been unfair for decades. 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