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
These are challenging times, particularly for lenders. There are no risk models that can predict what might happen not just over the next year but even over the next month. While every lending verticals is being impacted the effects are not being felt uniformly.
Most founders don’t give much thought to their board. But there are real advantages to creating a quality board of directors that really serves the entrepreneur and actually makes up for some of his/her weaknesses.
Many community banks have been having a difficult time in recent years as banking becomes ever more intertwined with technology. They don’t have big budgets to spend on tech but more importantly many leaders of community banks don’t have a technology-first mindset.
The big three credit bureaus, whether in the UK or the US, have excellent coverage on the majority of consumers. But for those people who have never applied for credit, they tend to have very little information. Now, many people have a bank account who have no credit file or a thin file and the data from their bank account, if analyzed well, can prove to be an excellent predictor of creditworthiness.
The way we have stored and used credit information has not fundamentally changed in decades. The big three credit bureaus each have massive databases of personal information on everyone with a credit file. But as we have seen in recent years this is not the best and certainly not the most secure system.
It rocked the fintech world. When LendingClub announced they would be acquiring Radius Bank (pending regulatory approval of course) it was a groundbreaking moment for fintech. It was the first time a fintech company had acquired a bank and suddenly the rules were being rewritten. Now, a lot has to happen before the acquisition is complete with some complicated regulatory hurdles to overcome.
While fintech in the developed world continues to flourish the most exciting growth is happening in emerging markets. For the first time many countries have a developed venture capital ecosystem which is leading to more fintech companies being funded than ever before.
I love listening to podcasts. I have about 20 different shows on my playlist and one that I listen to regularly is the 11:FS Fintech Insider podcast from the UK consulting firm 11:FS. But 11:FS is about way more than just podcasts. They have become, quite possibly, the leading consultancy firm in all of fintech and they have a division that is building new core banking infrastructure for banks.
Many startup entrepreneurs look to Silicon Valley as their ideal source of capital. But in doing say they often dilute their ownership significantly. The crazy thing is that for many companies the bulk of their hard earned capital goes to spending on Google or Facebook ads. There is now a better way.
I don’t think anyone would argue that back office banking infrastructure needs to change. Fintech companies and even banks these days want to work with companies that can provide a customizable, API-driven system that allows them to add new functionality quickly and easily. There are a number of emerging companies that are working on providing just that.