Throughout history, tenuous economic situations and growing fears of change and collapse have always sparked innovation. Dating as far back as the Roman Empire we can see examples of great innovation that paved the way to create society as we know it today. Just as their global empire made extraordinary inventions immediately prior to their downfall (including modern sanitation systems, roadways, and even the first surgical tools), modern economic crises have also lead to incredible innovations and the founding of …
Tag: Fintech
Millennials are no longer just the kids who grew up with technology. They are becoming adults, and now make up a quarter of the consumer population of the U.S. We are in the midst of a generational hand-off – the baby boomers have just about lost their grip on the majority hold of the market and are no longer the main demographic for new companies to target. This is causing a complete shift in strategy for players in the fintech …
The US is heading full speed ahead into a future run by a fully open-data economy. Data has traditionally been siloed away in vaults that are inaccessible to customers and other businesses – but this is no longer the case. More and more businesses are letting down the veil of secrecy in place of more open pools of data and infrastructure sharing. Big Data + Banking = Open Banking One of the industries being heavily impacted by this new trend …
Technology continues to evolve every day and transform the way that all businesses operate. There is rapid innovation happening across nearly every market sector relating to data, fintech, and even organization. This hectic pace has created a new wave of rising stars out of select startups that are beginning to challenge and intimidate the larger Fortune 500 companies. With massive amounts of resources and funding at their disposal, these Fortune 500 players have shown us that they will not go …
As the fintech market continues to gain steam and digitize money management, banks have begun to shift their organizational structure and focus on technological innovation. The world is starting to explore new ways of handling and exchanging money with the help of technology – and banks are not planning on being left behind. It’s now safe to safe Banks are betting on Fintech’s for survival. The banks are getting involved in fintech startups for a couple main reasons including the potential …
Visa recently acquired Plaid for $5.3 Billion, which is almost twice its last valuation. What does Visa’s acquisition of Plaid really mean for Fintech? The fintech market has been undergoing a shift behind the scenes for a few years now into a new trend called data unification. Businesses, in general, have been getting more keen about data utilization within their organizations. Big data analytics using AI and machine learning are helping more and more businesses make smarter decisions about growth, …
For the last couple of years, banks have been shutting down branches at an alarming pace, while limiting the opening of new ones. Well over 2,000 large to midsized bank branches in Canada and the US have been shut down with more to come. After all, many analysts have criticized the closure of bank branches. These critics claim that banks closing have disenfranchised low-income communities and are forcing them into higher-cost banking situations. While big banks may provide physical convenience …
2020 is going to be important, and most likely, a milestone year for the fintech industry going forward. We are just beginning to see the initial trends that could drive a new state of the industry going forward. If the big industry players in the game aren’t careful, the age of technological innovation may just push them out. There are some very important new trends that are beginning to flesh out and are sure to have a huge impact on …
The current status-quo of big banks handling everyone’s money is beginning to be phased out by new and forward-thinking financial companies. Consumers are craving modern banking tools that give them control of their data, minimal fees, and also the ability to freely use new financial applications that make moving money easy. We are living in a hyper-personalized world now, and legacy banks are struggling to loosen their grip on their customer’s freedoms. If they are not careful, they are going …
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