The Successes and Failures of Fintech

The global fintech market is characterised by a booming digital payments industry valued at $3,403,168 million in 2018, with a total transaction value projected to increase by 13.2% by 2024. Among the largest sectors of the fintech industry are the personal finance sector and the burgeoning Robo-Advisors sector. According to market research (Research and Markets), the total market’s transactional value for 2019 through 2024 is forecast to grow at a compound annual growth rate (CAGR) of 8.6%. Fintech’s rise to prominence was facilitated to a large degree by the failure of central banks and established financial systems following the global financial crisis. A growing demand for workable financial solutions, structures and frameworks yielded innovative fintech solutions for improved efficiency, better management, and enhanced cost effectiveness.

Financial Tech Companies

The leading financial technology companies have set the standards high, with ambitious objectives aimed at solving real-world problems. Sometimes these incubator solutions have prospered, at other times they have failed. The rationale for ongoing R&D into Fintech solutions is to replace redundant, expensive financial frameworks and entrenched systems with leaner and more efficient solutions. Fintech’s advances have not been without the occasional stumbling block. One such area of concern is small business lending. Predatory pricing techniques and invasive business practices have tarred this particular segment of the fintech industry. Greater regulatory compliance and oversight are needed to establish credibility among users.

Challenges Ahead for Sectors of the Fintech Industry

So, what’s really going on in the Fintech space? What are the notable failures and what are the possible bright spots on the horizon? It appears that the most significant losses are attributable to banking companies and online lenders. Several big-name enterprises like CAN Capital, OnDeck and even Lending Club have suffered acute losses, as reflected in their stock prices. For example, LendingClub Corp stock has dropped from over $25 per share in 2014 to just $3.60 per share today. This begs the question: Why are online lending companies failing while traditional financial institutions are enjoying incremental growth? An interesting insight is provided by acclaimed investor, J. Christopher Flowers. His analysis of fintech companies is revealing. Fintech companies don’t follow the narrative of financial companies. Fintech is geared towards massive growth and dominance in double-quick time. Financial enterprise is typically slow and steady, with incremental growth over time.

Funding For Technology

With tech funding, investors plough huge amounts of money into new ventures with a short-term perspective. In financial circles, trust needs to be built, reputations established, and market penetration achieved. All of these things take time to process. With fintech it’s about who gets to market first in a rush for dominance. Fintech enterprises in the online lending industry are all about pushing sales, first and foremost. Proof of this dash towards rapid growth and dominance in the online lending market is evident in the high cost per click with keywords on Google. To cut a long story short, advertising campaigns with many online lenders are geared towards growth at all costs. By working with established fintech enterprises, fintech newbies fall into the trap of stagnation. The reason d’etre of fintech is disruptive technology, while incumbent enterprises are set in their ways. This makes it rather difficult to gain traction.

Fintech Success Stories to Rebalance the Scales

Fintech has a place in today’s fast-paced world, particularly in areas where clunky processes hamper the efficiency of important business functions. One striking example of fintech at work is in the area of global payroll payments processing. Payroll costs are a major bugbear for companies all over the world. Global payroll operations across multiple territories and jurisdictions typically cost companies substantial sums of money and they are associated with significant security concerns, legal complexities, and compliance-related issues. Fintech companies offering sophisticated solutions in the form of automated payroll processing solutions are having an impact on the profitability and efficiency of company operations. Many companies have touted solutions for global payroll, but only a select few generate the types of results that are needed to validate their adoption. The hallmarks of effective global workforce management platforms are cost-reducing solutions, fully automated payroll systems, and full compliance with GDPR. By eliminating email dependency in the payroll function, it is possible to improve data security and coverage for employees and the company.

 

A big part of the inefficiency problem with global payroll management is compliance. Each country, territory or jurisdiction has specific rules in place regarding payroll management. With automated payroll solutions, compliance is guaranteed. Thanks to local verified experts in place, it is easy to enjoy complete control and transparency of all payroll-related activity. Automated payroll solutions run on autopilot, without any complexity. By connecting with local suppliers, companies can enjoy best-in-class payroll management through secure, efficient and compliant payroll solutions. Many other promising areas are ripe for fintech development. Innovative technologies are giving rise to systems, products and services making it easier to manage finances for businesses and individuals, secure payments channels, and facilitate greater efficiency across the board. Digital banking is slated to double in size within a few years, and mobile payments are expected to reach $275 billion by 2021 (Statista). Various other fintech fields are being cultivated, including biometric banking identifiers, insuretech, regtech (fintech regulatory compliance systems), blockchain, and concepts such as ‘Social Money’. Each of these fintech markets is enjoying substantial investment, and adoption of these new technologies is quickly gaining traction.

The Future of FinTech

The future certainly looks bright for fintech and all its applications. New developments are being brought to market at breakneck speed. While some concepts will inevitably fail, but offer solutions to existing challenges.

 

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Gold-Backed Digital Currency – Wall Street

What is Gold-Backed Digital Currency?

In the wake of the decline in the value of traditional crypto-assets, crypto believers are constantly on the lookout for new investment opportunities and innovative products that will enable them to continue to make a fortune. The fall of cryptocurrencies like bitcoin is often attributed to their price volatility as well as regulatory and application issues which erode investor and user confidence. With gold, there are no such concerns. For several years, gold has proven to be a durable, trustworthy, safe-haven asset and one of the most reliable ways to preserve wealth over the long term. This makes gold-backed cryptocurrency the perfect answer to the volatility seen in the crypto market, especially for those looking to secure financial stability.

Everything You Need to Know

Gold-backed digital currency is a form of stablecoin whose value is tied to that of gold. They combine the innovative capabilities of the blockchain technology with the relative stability of gold to provide a cushioning solution to the highly volatile cryptocurrency market.

To mitigate the challenges facing traditional cryptocurrencies and their extreme price swings, these assets are backed by physical gold through allocated or unallocated gold storage. Other than being pegged to gold, gold cryptocurrencies operate in a similar fashion to traditional cryptocurrencies like bitcoin.

How Gold-Backed Cryptocurrency Works

While each gold-backed cryptocurrency works differently, one universal principle binds them: they are all backed by a specific value of gold. As a result, the token being issued represents an amount of gold.

One popular cryptocurrency whose value is tied to the price of gold is OneGram. Each OneGram token is backed by one gram of physical gold, which help gives it stability.

What is the Difference Between Gold-Backed Cryptos and Other Digital Currency?

The primary difference between traditional cryptocurrency and that backed by gold is that while cryptocurrency initially attracts a small sum of money, gold-backed digital currency launch at a price determined by the market value of gold.

Because they are backed by gold, the value of gold-backed crypto assets does not fall below the price of gold. Often, gold-backed cryptocurrency commands a higher price than gold the more popular it is. The value of traditional cryptocurrency is determined through supply and demand as is the case for common stocks and is also affected by hype and perception.

Experts argue that perception is the primary driver of crypto prices. Other factors that affect the price of cryptocurrency include mining difficulty, energy usage, token utility, and investor behavior.

What Are the Popular Gold-Backed Digital Currencies?

Some of the most popular gold-backed digital currencies include:
  • OneGram (OGC)
  • AgAu
  • Airgead
  • Anthem Gold (AGLD)
  • AssetBase
  • AurumCoin (AU)
  • BullionCoin (XAAU)
  • Currensee (CUR)
  • Darico (DEC)
  • DinarDirham (DNC)
  • Flashmoni (OZG OZT)
  • Gold Bits Coin (GBC)
  • GoldMineCoin (GMC)
  • GOLDUSA (GOLD)
  • HelloGold (Goldx)
  • OZcoinGold (OzGLD)

How to Buy Gold-Backed Cryptocurrency

While the method of buying token might vary from one gold-backed digital currency to another, you’ll generally need enough of either bitcoin or ethereum to buy gold-backed cryptocurrency.

To buy any gold-backed digital currency, visit their site and follow the steps necessary to purchase the coin.

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How Fintech Is Aiming Millennials Using A I Machine Learning

 

Millennials >The Electronic Natives

During the last a few years, millennials have already been upending the customer market as businesses struggle to get the easiest method to attract the world’s first group of electronic natives, a wily lot whom thrive on invention, automation and also all of the tech gadgets that are latest.

As more of these young-adults go into the employees and start invest in their futures, businesses are speedily understand they may have to transform their approach to attraction to this demographics’ distinctive set of needs and also objectives, which take course to totally disrupt the status quo. In a nutshell, it can’t just be business as usual with the generation that is Smartphone.

Millennials Branded

As millennials have already been burdened with a few unattractive labels in modern times, as well as selfish, entitled and award kids, this tech confidence bunch has also been sleeted for being more progressive and also available to new ideas than earlier generations.

Millennials value transparency in addition to convenience. They basically demand to possess a modified products or even services at their fingertips anywhere and also when they need it, according to research that centers on how banks could recreate themselves in the age of millennial.

These types of defining attributes are just what companies require to bear in mind if they wish to maintain their competitive edge in this climate of lightning-fast technological change. It has not ever been truth than for fintech, an industry I have watched develop into becoming more hands on, easy to use and also amusing, thanks towards the computerization that is advanced AI technologies which has flooded the IT-sphere.

Fintech Business and Millennials

Many fintech businesses have seized upon a distinct segment possibility. They realize that old-fashioned investment and banking avenues are becoming quickly phased down. In reality, 58% of Americans believe that financial institutions will no longer exist in their form that is present within next couple of decades. In reality, a lot of big banking institutions have already implemented mobile applications so that you could match shifting customer styles, which are rapidly moving towards the digitization that is complete of sector. Fintech is using this process a step further by essentially replacing (human) financial advisors with robo-advisors that use big data, machine learning and also AI to basically cherry pick the best investment opportunities for this new generation of investors.

As the Chief Executive Officer of my own mobile app and web development store, I have caused a serious few fintech startups over the very last decade that understand the importance of targeting the requirements of this customer base that is valuable. I’ve been keeping a keen eye on this sector, pleased to see that the market is filling with investment platforms geared toward my generation.

AI, machine customer and learning service anytime, anywhere is where the future is headed. Businesses hoping towards capitalize on consumers changing mindsets, with millennials leading the cost, will need to fine-tune their jump or approach off the bandwagon. Those that have not began automating their services to appease the more youthful generation’s demands for transparency, ease and cool, interactive user interfaces have actually about another couple of years to get up or risk extinction.

 

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How Financial Technology is Creating Growth Opportunities for Small Businesses

Changing the Way Small Business Are Financed

One of the major problems many economies have had to deal with is that which concerns catering to the needs of small businesses in a changing business environment. The traditional model of new companies turning to banks for finance was limiting for most entrepreneurs.

Small business owners found it unbelievably hard to secure funding through a bank, with loan requests being declined for reasons ranging from insufficient collateral to economic concerns, and everything in-between. This made survival difficult, never mind expansion.

Thanks to new fintech firms, small and medium businesses can now access cheaper alternative financing and grow. The innovative ideas and new developments brought by fintech companies have changed the business sector and made it easier for startups to navigate the financial services landscape through the following ways:

Advances

Fintech enables small businesses to get the funding they need to expand. Peer-to-peer lending sites such as Funding Circle, LendGenius, and Kabbage provide microloans for business owners that often have difficulty finding lending support. This helps make it possible for small businesses to carry on their operations unhindered.

The requirements for getting approved by these companies are less restrictive than commercial banks. Fintech advances also attract lower interest rates, involve little to no paperwork, and do not require collateral. Add the convenience that they offer on top of that, and you will see just how far financial technology has brought us.

Expense Tracking and Electronic Invoicing

Another way that fintech removes the barriers that small businesses encounter when they try to expand is that it provides them with reliable expense monitoring solutions that are flexible enough to allow them to meet their business needs.

Fintech firms like Sage offer tools with which small-sized businesses can monitor all the money coming in and going out of the company’s accounts. This helps business owners to understand how much money is in the business at any point in time, as well as how that money is being spent. When a business can have a clear picture of its finances in this manner, it will find it easier to make informed financial decisions.

Further, fintech enables small businesses to automate invoicing, simplifying the accounting process as a result. This helps entrepreneurs to not only deal with cashflow challenges but also to maximize efficiency.

Provision of Digital Payment Options

Before now, one of the major problems for businesses that operate on a small scale is how to send money across international borders. The procedures for sending funds across borders was long and tedious. As a result, it discouraged clients from buying from overseas businesses. Fortunately, payment solutions like PayPal, Stripe, Venmo, Skrill, etc., now make it easier for small business owners to accept payments globally. This enables businesses to achieve international growth, as any customer can pay for items regardless of their location.

Last Word

Fintech has contributed in no small measure to helping small-sized businesses to drive revenue and grow market share in a tough business environment by addressing the market failures that they encounter.

The ease with which organizations can access funding, track expenses and conduct business have significantly enhanced their ability to keep their finances in check, achieve growth, and measure results effectively.

 

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5 Top Financial Technology Trends

Trends in FinTech

Lately, there has been a lot of buzz in the financial services space over the quick and radical changes in the sector brought about by its shift to a new, digital model that will fundamentally transform everything.
In this Featured Article, we take a look at the trends shaping the financial services industry to bring you the most current trends affecting your everyday life. Financial Technology is move at an incredible speed.
  1. Digital Transformation

Our world is becoming very tech-inclined with a growing reliance on technology and online resources. This, coupled with increased competition from fintech and regtech firms whose business model revolves around a variety of new technologies has forced traditional financial institutions to invest in digital technologies to remake processes and become more efficient.

  1. Artificial Intelligence (AI) and Blockchain

AI and Blockchain continue to expand the frontiers of technology, enabling companies to solve even harder problems and disrupt the financial services landscape with huge competitive advantages. AI, for one, is taking the financial services industry by storm.

Several financial services firms now rely on artificial intelligence to cut cost, save time, and add value. For instance, wealth management institutions now use robo-advisors to analyze and understand client investment, spending, and general behavior regarding money management so they can customize the advice offered to customers.

Similarly, the blockchain, the technology which runs cryptocurrencies, continues to power innovation in the financial services sector. It offers an opportunity to speed up and simplify cross-border payments, ensure greater trade accuracy, improve online identify management, and ensure transparency in financial operations.

Through smart contracts, transactions and agreements are executed automatically once the conditions coded in them are satisfied. This help eliminates the need for an intermediary and leads to a reduction in cost.

  1. Digital-Only Banks Influence in the Financial World Continues to Grow

Digital-only banks and fintech companies are threatening to replace traditional banks as the focal point of the banking experience. As technological advancements continue to expand and consumers become more comfortable using the internet, their expectations for instant and straightforward digital interactions will continue to increase.

By their very nature, digital-only banks possess the tools necessary to offer consumers what they expect and prefer. Not operating from any physical location means they attract low transaction cost, which allows them to distribute resources better to provide customer experiences that are uniquely differentiated.

For instance, DBS Bank, a Marina Bay-based digital-only bank offers up to 7% interest rates on savings accounts, unlimited access to ATMs, zero balance requirements, etc., all of which can be difficult for legacy organizations to provide.

  1. Big Data Continues to Drive Modern Business Operations

Organizations continue to find new ways to leverage big data. This data now enables companies to create real competitive advantages by providing large amounts of information to assist with their research, marketing, etc. It is predicted that the Internet of Things will make big data even bigger by providing plenty of storage space as well as by offering the big data itself.

  1. Banks and Financial Institutions Embrace Cloud-Based Offerings

Cloud innovation has been a thing in the financial services industry for a while now. However, it wasn’t until recently that banks started to embrace it. The innovation was generally not well received by traditional banks due to security issues. Brick and Mortar institutions feared that entrusting data to cloud will make it more susceptible to hacks.

Today, however, the technology is becoming more widely accepted, as banks now use cloud computing for non-critical functions like email, human resource, customer relationship management (CRM), customer analytics, as well as for development and testing.

 

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“Banks On Notice” Fintechs Are Coming for Checking Accounts and Debit Cards

A New Financial Order

As user behavior among consumers continues to shift towards a mobile experience, fintech offers exciting new technologies that could potentially disrupt existing financial practices and establish a new order.

A majority of commenters perceive consumer banking as the area most likely to be disrupted by fintech companies because most startups have sought to target the end customer directly by providing smart solutions.

The technology provided by fintechs could change the way we transfer money, make payments, and manage our financial lives. As such, it is seen as having the ability to impact customers’ demand for checking accounts and debit cards, and this has the traditional players worried.

Meet the New Players

A PriceWaterhouseCoopers survey reveals that around 83 percent of traditional banks and credit unions believe that they are at risk of losing out their business to fintech companies. This is because new fintech entrants bring with them innovative and cutting-edge digital banking ideas that enable them to cater to the digital generation better than existing practices allow traditional banks to.

One of the major companies looking to change the way consumers bank is Venmo. Venmo is a peer-to-peer system which seeks to enable consumers to send money or request funds from each other using a mobile app. Such a system offers convenience and gives the customer a great deal of autonomy, as they do not have to rely on established financial institutions to send funds.

The New Venmo Card

Venmo is also on the verge of launching its Venmo Card. The card, which operates on the MasterCard network, will make it possible for a user to withdraw funds without having to go through a traditional bank. Payment company, Square, also has a prepaid debit card which functions in the same way, allowing users to make payments with a swipe.

In a related development, online payment system, PayPal offers the PayPal Cash MasterCard, which lets users use funds in their account to pay for goods online, in-stores where MasterCard is accepted, as well as withdraw cash at ATMs.

On its part, online-only lender, SoFi, which offers inexpensive rates for mortgages, personal loans, as well as student loan refinancing, seeks to revolutionize traditional banking models using SoFi Money. The product allows account owners to spend funds using the company’s own debit card. If you prefer to leave your funds in the account instead of spending them, they will earn an annual percentage yield of 1.10 percent.

Other innovative products that could overtake traditional mediums as the primary way individuals spend and send funds or invest include the Acorns Spend card from Acorns and the Stash Banking from Stash Investments, among others.

Fintechs and Account Use: What Statistics Say

Meanwhile, the number of checking accounts has dropped by nearly 100 million in the last six years due to fintech’s growing influence on financial services. A Moebs Services study uncovered that the total number of checking accounts fell from 690 million to around 600 million from 2011 to 2017, representing a 12 percent decline.

 

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“Banks On Notice” Fintechs Are Coming for Checking Accounts and Debit Cards

A New Financial Order

As user behavior among consumers continues to shift towards a mobile experience, fintech offers exciting new technologies that could potentially disrupt existing financial practices and establish a new order.

A majority of commenters perceive consumer banking as the area most likely to be disrupted by fintech companies because most startups have sought to target the end customer directly by providing smart solutions.

The technology provided by fintechs could change the way we transfer money, make payments, and manage our financial lives. As such, it is seen as having the ability to impact customers’ demand for checking accounts and debit cards, and this has the traditional players worried.

Meet the New Players

A PriceWaterhouseCoopers survey reveals that around 83 percent of traditional banks and credit unions believe that they are at risk of losing out their business to fintech companies. This is because new fintech entrants bring with them innovative and cutting-edge digital banking ideas that enable them to cater to the digital generation better than existing practices allow traditional banks to.

One of the major companies looking to change the way consumers bank is Venmo. Venmo is a peer-to-peer system which seeks to enable consumers to send money or request funds from each other using a mobile app. Such a system offers convenience and gives the customer a great deal of autonomy, as they do not have to rely on established financial institutions to send funds.

The New Venmo Card

Venmo is also on the verge of launching its Venmo Card. The card, which operates on the MasterCard network, will make it possible for a user to withdraw funds without having to go through a traditional bank. Payment company, Square, also has a prepaid debit card which functions in the same way, allowing users to make payments with a swipe.

In a related development, online payment system, PayPal offers the PayPal Cash MasterCard, which lets users use funds in their account to pay for goods online, in-stores where MasterCard is accepted, as well as withdraw cash at ATMs.

On its part, online-only lender, SoFi, which offers inexpensive rates for mortgages, personal loans, as well as student loan refinancing, seeks to revolutionize traditional banking models using SoFi Money. The product allows account owners to spend funds using the company’s own debit card. If you prefer to leave your funds in the account instead of spending them, they will earn an annual percentage yield of 1.10 percent.

Other innovative products that could overtake traditional mediums as the primary way individuals spend and send funds or invest include the Acorns Spend card from Acorns and the Stash Banking from Stash Investments, among others.

Fintechs and Account Use: What Statistics Say

Meanwhile, the number of checking accounts has dropped by nearly 100 million in the last six years due to fintech’s growing influence on financial services. A Moebs Services study uncovered that the total number of checking accounts fell from 690 million to around 600 million from 2011 to 2017, representing a 12 percent decline.

 

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“Banks On Notice” Fintechs Are Coming for Checking Accounts and Debit Cards

A New Financial Order

As user behavior among consumers continues to shift towards a mobile experience, fintech offers exciting new technologies that could potentially disrupt existing financial practices and establish a new order.

A majority of commenters perceive consumer banking as the area most likely to be disrupted by fintech companies because most startups have sought to target the end customer directly by providing smart solutions.

The technology provided by fintechs could change the way we transfer money, make payments, and manage our financial lives. As such, it is seen as having the ability to impact customers’ demand for checking accounts and debit cards, and this has the traditional players worried.

Meet the New Players

A PriceWaterhouseCoopers survey reveals that around 83 percent of traditional banks and credit unions believe that they are at risk of losing out their business to fintech companies. This is because new fintech entrants bring with them innovative and cutting-edge digital banking ideas that enable them to cater to the digital generation better than existing practices allow traditional banks to.

One of the major companies looking to change the way consumers bank is Venmo. Venmo is a peer-to-peer system which seeks to enable consumers to send money or request funds from each other using a mobile app. Such a system offers convenience and gives the customer a great deal of autonomy, as they do not have to rely on established financial institutions to send funds.

The New Venmo Card

Venmo is also on the verge of launching its Venmo Card. The card, which operates on the MasterCard network, will make it possible for a user to withdraw funds without having to go through a traditional bank. Payment company, Square, also has a prepaid debit card which functions in the same way, allowing users to make payments with a swipe.

In a related development, online payment system, PayPal offers the PayPal Cash MasterCard, which lets users use funds in their account to pay for goods online, in-stores where MasterCard is accepted, as well as withdraw cash at ATMs.

On its part, online-only lender, SoFi, which offers inexpensive rates for mortgages, personal loans, as well as student loan refinancing, seeks to revolutionize traditional banking models using SoFi Money. The product allows account owners to spend funds using the company’s own debit card. If you prefer to leave your funds in the account instead of spending them, they will earn an annual percentage yield of 1.10 percent.

Other innovative products that could overtake traditional mediums as the primary way individuals spend and send funds or invest include the Acorns Spend card from Acorns and the Stash Banking from Stash Investments, among others.

Fintechs and Account Use: What Statistics Say

Meanwhile, the number of checking accounts has dropped by nearly 100 million in the last six years due to fintech’s growing influence on financial services. A Moebs Services study uncovered that the total number of checking accounts fell from 690 million to around 600 million from 2011 to 2017, representing a 12 percent decline.

 

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How Fintech Is Aiming Millennials Using AI Machine Learning

Millennials >The Electronic Natives

During the last a few years, millennials have already been upending the customer market as businesses struggle to get the easiest method to attract the world’s first group of electronic natives, a wily lot whom thrive on invention, automation and also all of the tech gadgets that are latest.

As more of these young-adults go into the employees and start invest in their futures, businesses are speedily understand they may have to transform their approach to attraction to this demographics’ distinctive set of needs and also objectives, which take course to totally disrupt the status quo. In a nutshell, it can’t just be business as usual with the generation that is Smartphone.

Millennials Branded

As millennials have already been burdened with a few unattractive labels in modern times, as well as selfish, entitled and award kids, this tech confidence bunch has also been sleeted for being more progressive and also available to new ideas than earlier generations.

Millennials value transparency in addition to convenience. They basically demand to possess a modified products or even services at their fingertips anywhere and also when they need it, according to research that centers on how banks could recreate themselves in the age of millennial.

These types of defining attributes are just what companies require to bear in mind if they wish to maintain their competitive edge in this climate of lightning-fast technological change. It has not ever been truth than for fintech, an industry I have watched develop into becoming more hands on, easy to use and also amusing, thanks towards the computerization that is advanced AI technologies which has flooded the IT-sphere.

Fintech Business and Millennials

Many fintech businesses have seized upon a distinct segment possibility. They realize that old-fashioned investment and banking avenues are becoming quickly phased down. In reality, 58% of Americans believe that financial institutions will no longer exist in their form that is present within next couple of decades. In reality, a lot of big banking institutions have already implemented mobile applications so that you could match shifting customer styles, which are rapidly moving towards the digitization that is complete of sector. Fintech is using this process a step further by essentially replacing (human) financial advisors with robo-advisors that use big data, machine learning and also AI to basically cherry pick the best investment opportunities for this new generation of investors.

As the Chief Executive Officer of my own mobile app and web development store, I have caused a serious few fintech startups over the very last decade that understand the importance of targeting the requirements of this customer base that is valuable. I’ve been keeping a keen eye on this sector, pleased to see that the market is filling with investment platforms geared toward my generation.

AI, machine customer and learning service anytime, anywhere is where the future is headed. Businesses hoping towards capitalize on consumers changing mindsets, with millennials leading the cost, will need to fine-tune their jump or approach off the bandwagon. Those that have not began automating their services to appease the more youthful generation’s demands for transparency, ease and cool, interactive user interfaces have actually about another couple of years to get up or risk extinction.

 

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LendIt Fintech USA 2018 San Francisco March 9-11

LendIt Fintech is the World’s Leading Event in Financial Services Innovation. LendIt Fintech hosts three conferences per year in the USA, Europe, and China. These events bring together every major fintech, blockchain, lending and digital banking companies from around the world. Professionals in the financials services industry come to learn, network and do business.

 

Online Lending, Event Management, Financial Technology, Networking, Peer to Peer Lending, Market Place Lending, Blockchain, Digital Banking, Banking, Fintech, and Financial Services

Meet Chris larson and The Lendit Team

A serial entrepreneur, Larsen, 57, cofounded the online mortgage lender e-Loan, in 1997, and, eight years later, Prosper, the peer-to-peer lender that has been valued at more than $1 billion. He seems to have hit it bigger here, even if XRP is nothing more than a speculation vehicle — and one that’s down 65% since the beginning of the year. While Larsen stepped down from the company more than a year ago, he still serves as executive chairman and tells Forbes he’s “100% focused on Ripple and helping the team any way I can.” Given these kind of numbers, he’d be crazy not to.

LendIt has always been about community. It all began back in 2012 when Jason Jones was speaking at a conference in New York that was organized by Dara Albright. He proposed creating a new event focused on marketplace lending (then called peer to peer lending), a place where the new community could come together. He had been interested in marketplace lending for some time and, along with his partner Bo Brustkern, was in the process of launching one of the first funds in the space.

At that same time Peter Renton, the founder of Lend Academy, had decided that he wanted to start a marketplace lending conference in 2013. The members of the Lend Academy community had been reaching out to Peter on the need for an industry event that would bring the community together in person.

So, it was serendipitous when Jason and Dara connected with Peter and together they decided to launch the world’s first marketplace lending conference. They had modest expectations, they just wanted to put on an event where the entire community could come together to network and learn. The first conference in New York ended up being sold out and was a big success.

Today, Jason, Bo and Peter run the LendIt conferences and Dara has moved on to launch a new venture. LendIt has grown into the largest lending and fintech conference in each of the regions they operate: USA, China and Europe.

Our conferences bring together the fintech firms, investors, and service providers

Lending

Lending has been the bread and butter of LendIt events from inception. As online lending has grown up, so too has LendIt. In the early days there were just a handful of early companies who were thinking very differently about how lending should be done. There is now a healthy ecosystem that has been built around the lending industry. At LendIt Fintech USA 2018 we’ll cover all verticals of lending. Many people are familiar with LendingClub CEO Scott Sanborn who will kick off the event. While we will cover every aspect of lending, here are a few other notable speakers:

  • Jay Farner, CEO, Quicken Loans
  • Max Levchin, Co-Founder & CEO, Affirm
  • Anthony Noto, CEO, SoFi
  • Renaud Laplanche, CEO, Upgrade

Digital Banking

Every bank needs to have a digital strategy these days. Consumers have more options than ever and companies need to check all of boxes no matter what size bank they are. We’ll hear a wide range of perspectives from startups to established banks looking to serve a younger customer base. This track will also cover mobile technology, banking infrastructure, data science, partnerships, wealth management and how banks can compete in the ever changing marketplace. Below are just a few names that we’ll hear from on digital banking:

  • Yolande Piazza, CEO, Citi FinTech
  • Suresh Ramamurthi, Chairman & CTO, CBW Bank
  • Luvleen Sidhu President, Co-Founder & Chief Strategy Officer, BankMobile
  • Jeremy K. Balkin, Head of Innovation, HSBC Bank USA
  • Nicolas Kopp, U.S. CEO, N26 Inc.

Blockchain for Financial Services

For 2018 we looked at one of the biggest new trends in financial services, blockchain and decided to create an event within our event. We are debuting our new blockchain event Blockfin by LendIt. Blockfin is co-located within the LendIt Fintech event meaning attendees have access to both events. We teamed up and are co-hosting the event with CryptoOracle. BlockFin brings together the top innovators and experts from the entire blockchain ecosystem including technology platforms, crypto companies, investors and banks for 2 1/2 action-packed days of learning, networking and business development. The event will include: 1:1 investor meetings, a demo stage for crypto funds & ICOs and 40+ hours of cutting edge blockchain and cryptocurrency content. Some names we are excited to hear from include:

  • Tim Draper Founder & Managing Director DFJ
  • Richard Craib, CEO, Numerai
  • Tom Ding, Co-founder & CEO, String Labs/Dfinity
  • Vincent Wang, Chief Innovation Officer, China Wanxiang Group
  • Kathleen Breitman, Co-Founder, Tezos
  • Catherine Wood, CEO/CIO, ARK INVEST

Specialties  In Financial Technology

This is just a taste of what you can expect out of LendIt Fintech USA 2018. You can learn more by visiting our speakers page or looking at sessions confirmed on our agenda. If you plan to attend the event, be sure to act soon as the price increases by $400 on Friday night. As a Lend Academy reader you can use our special discount code “LENDACADEMYVIP” for an additional discount.

                                       We hope to see you in San Francisco in April

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