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INVSTR TOPICS: FINTECH WEEK

by | Mar 1, 2016

During UKFinTech week, invstr went out and about speaking to London based FinTech companies and attending a huge FinTech event hosted by Innovate Finance. MyBnk and Bancore were some of the companies there to discuss how FinTech can help finance become more inclusive.

Video Transcript

LEA JAKOBIAK (Reporter, invstr):  It’s FinTech week here in London. What better way to kick it off then at a huge FinTech event organized by Innovate Finance featuring some of the biggest players in the industry.

NICOLE MCKENZIE (Director, MyBnk): We’re really excited about FinTech and the potential to work with organisations to really strengthened MyBnk’s financial education program.

 LEA JAKOBIAK (Reporter, invstr): FinTech startups are changing the way we manage our money and this is challenging business for traditional banks. One of those companies is Mondo. Mondo’s CEO thinks that London is the place to be.

TOM BLOMFIELD (CEO Mondo): I think it’s particularly come to promise here in the UK for a number of reasons so access to capitalists  is you know unprecedented here access to talent especially people coming out of the banks after the 2009 crisis. And thirdly there’s sort of the regulatory and payments environment. So we really do have quite progressive regulators here in the UK combined with with world-class payment systems. so faster payment service backs and access into set for european payments.

LEA JAKOBIAK (Reporter, invstr): For invstr’s Kerim, fintech is all about the individual.

KERIM DERHALLI (CEO, invstr): Fintech isn’t about finance. Fintech  isn’t even about technology. Fintech is about you and me and all of us and it’s about bringing that experience that we have in the rest of our daily lives and to our financial lives.

 LEA JAKOBIAK (Reporter, invstr): When it comes toward what the future holds in tech it’s a bit of a mixed picture

ROMAN ITSKOVICH (FX Adviser for Startups): If you look at the past few years peer-to-peer an alternative lending in general has been growing very fast and I think that this year is the year where it is going to be less perceived as alternative and more as a as another lending vote. And then you know there’s also always a big question about blockchain and Bitcoin and if that will catch and I think that we’re talking about doesn’t next big thing for a few years now but what I’ve seen this year is that there are a few companies who are taking the block chains away from consumer and focusing more on banking infrastructure type of place.

TOM BLOMFIELD (CEO, Mando): I think the market is vast like really enormous and certainly a lot of the companies starting up now won’t  succeed and that’s the nature of startups really that that many many will fail and that’s fine. it’s all the nature of the game really. I think we’ve yet to see a FinTech really make the prime time actually. You talk about these sort of these unicorns billion dollar valuations. When we get to ten or a hundred billion dollars i think then you start taking significant market share. I think we’ve got a long way to go still.

LEA JAKOBIAK (Reporter, invstr): And for some it’s a relief that fintech is finally taken seriously.

BEN LARSEN (CEO Bancore): When I came with this idea eight years ago and I came to visa and mastercard and the banks you know Barclays for the first time I was actually literally thrown at the door. Okay it’s like no we don’t need any innovation here whatever. What has happened and that’s even within the last 12 months is that all those they’d say all partners in the industry are suddenly realizing things are changing their changing fast. So they are right now actually coming to us saying how can we work together how can we help you bank or to make a better business.

LEA JAKOBIAK (Reporter, invstr): So, overall it sounds like the FinTech industry can expect some very exciting times ahead.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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