The longest running one-on-one interview show in all of fintech, since 2013
The longest running one-on-one interview show in all of fintech, since 2013
The longest running one-on-one interview show in all of fintech, since 2013
There has been a great deal of innovation in digital banking for consumers with dozens of fintech companies providing digital bank (or bank-like) accounts that are so much better than what was available five or ten years ago. But the same cannot be said for small business bank accounts where there are very few offerings.
The low and middle income consumer has been struggling for decades. And while the pandemic has made things a lot worse there is a great deal of work being done to try to improve their situation. One of the key pieces is savings, as a country we simply do not save enough.
This year the world has moved online. But it is not just consumers that have made this move, it is the fraudsters as well. They have taken advantage of a dislocated business environment without historical precedent to wreak havoc. To fight these fraudsters you need ever more sophisticated tools.
The point of sale financing space is one of the hottest niches in all of fintech. While most of the attention has gone to the retail “buy now pay later” space what is growing almost as fast is the solar financing sector. With only 2% of homes currently having solar panels and with the cost continuing to go down this is clearly going to be a growth industry this decade.
The pandemic has touched all niches within lending but there has been a wide disparity on the impact on individual platforms. In the fix and flip lending space originations went to virtually zero fairly quickly and have been slowly climbing the last several months.
The pandemic has had more impact on small business lending than probably any other vertical. While the PPP enabled many lenders to continue to lend and therefore stay in business that is now history. What the pandemic also did was that it demonstrated how robust lenders underwriting models were. This crisis has not effected all lenders equally with some lenders coming through this period in decent shape.
Every year in the lead up to our biggest show we provide a deep dive into what to expect with our LendIt Fintech USApreview show. I chat with my colleagues Bo Brustkern, CEO, and Todd Anderson, Chief Product Officer of LendIt Fintech about all the components of the eighth annual event which also happens to be our first ever virtual show.
One of the challenges that has plagued consumer lenders over the years is that when times get difficult some consumers do much better than others. There are even large variances in people who have the exact same credit score. There are lots of ways to get a 680 credit score and these people will all behave in a similar way when economic conditions are benign but differently during a recession.
We have seen big changes in the payments landscape this year. Technologies such as contactless payments have seen five years of growth in just the last six months. Companies that didn’t have a large digital footprint before the pandemic suddenly realized they had to adapt, and fast. This is where today’s guest comes in.
We have seen many companies in fintech branch out into adjacent areas of finance as they add product lines to bring more opportunities for their customers. But rarely, if ever, have we seen fintech companies look outside of finance completely when adding to their product mix.