Victoria Yasinetskaya looks at how a user-centric approach to data could help banks offer personalization as good as the music industry.
The intangible nature of money in the modern context has created a challenge for parents who aim to teach their children about value, money and savings. Whereas the weight of piggy banks previously told children that their savings were growing, this teaching is becoming more difficult to relay in a cashless society.
From San Francisco to Shanghai, communities everywhere are taking to digital money transferring with gusto. And there’s a major social component to it too: Many apps, such as Venmo, integrate with bigger platforms as another way of broadcasting — or, some might say, boasting about — all of our activities.
It's been about two decades since a financial company really changed the world. Inc. 500 entrepreneurs are leading a pack of disrupters, raised in the shadow of PayPal, who will change your business relationship to money forever.
Haichuan Teng was a 22-year old celebrity entrepreneur in China. China Central Television, the state broadcaster, ran enthusiastic reports about how he dropped out of high school at the age of 16 and starting his own technology business in January 2014.
What’s my account balance? How can I make a payment this afternoon? And how are my investments doing right now? These are frequently the daily, and sometimes hourly, needs of today’s financial consumers, and being able to respond to these requests with quick service has become a must for banks.
CEO Jamie Dimon described the situation in the simplest terms. “Silicon Valley is coming,” he said.
The mobile payments space has been touted as the next big thing for some time now. For almost as long as the mobile device revolution, industry watchers have predicted that the ubiquitous nature of mobile devices signaled the end of the traditional wallet — that, soon, cash and credit cards would give way to a new technology embedded into our mobile phones.
This weeks topic is inspired by last by Carsten Maschmeyer's prediction of an upcoming downfall of FinTech.
While there are a few cities that strive to be huge FinTech centers, but the opportunities in FinTech are global.