Fintech - friend or foe?
-
Upload
christoffer-o-hernaes -
Category
Business
-
view
3.609 -
download
0
Transcript of Fintech - friend or foe?
![Page 1: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/1.jpg)
Christoffer O. Hernæs
Fintech – friend or foe?
![Page 2: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/2.jpg)
Incumbents are facing a «perfect storm» of factors thatwill transform the industry
• Regulatory changes adds to complexity and are challenging business models‒ MifID II prohibits provision fees
‒ PSD 2 opens up the infrastructure
• Technological innovation creates vast possibilities and changes‒ Distributed ledgers and cryptocurrencies
‒ Deep learning for robo advisore and pre approvals
• Banks are considered irrelevant by millenials
• Interest rates are declining
13.10.2015 Presentasjon text2
• Regulatory changes adds to complexity and are challenging business models‒ MifID II prohibits provision fees
‒ PSD 2 opens up the infrastructure
• Technological innovation create new possibilities‒ Distributed ledgers and cryptocurrencies
‒ Deep learning and pre-approved credit
• Changing consumer behavior
• Increased competition
We are facing a «perfect storm» of opportunities thatwill transform the industry
![Page 3: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/3.jpg)
The ecosystem for financial services is changing and much of the innovation is coming from elsewhere
Savings Funding
Deposits andcurrent account
Capital marketsFX and
«Remittance»
Payments
Valueadded
services
• Customer and partners of the past could
become the competitors of the future
• Global technology giants, Facebook,
Google, Apple are well positioned to take a
role
• Investments in fintech reached 3 billion
USD in 2013 and is excpected to exceed 8
billion USD by 2018
![Page 4: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/4.jpg)
Fintech activity level in Scandinavia is high
• Klarna
• Bambora
• iZettle
• Seamless
• Behaviosec
• Tink
• Qapital
• FundedByMe
• Trustly
• Toborrow
• Trustbuddy
• Mondido
• Cryex
• Betalo
• Lånbyte.se
• Insplanet
• Swish
• Wywallet
• Coinify
• Wallmob
• MobilePay
• Swipp
• Meewallet
• Clearhaus
• Coders Trust
• Cranberger
• Lendino
• Dansk
Faktura Børs
• Beeptify
• RiskButler
• Booomerang
• Betternow
• Aidbuilder
• Donation
Road
• mCash
• Edgefolio
• Meawallet
• Zwipe
• Encap
• Banq
• KolibriFX
• Lettspart
• Risk-Partner
• Islero
• Bidra.no
• QuantAlliance
• Fronteer
Solutions
• Valyou
• Strex
• BitSwapr
![Page 5: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/5.jpg)
Fintech in ScandinaviaOver 60 Companies
More than 500 MUSD invested
Payments
Infrastructure
LendingInvestments/trading
OtherBitcoin/Blockchain
Crowdfunding
Risk Butler
![Page 6: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/6.jpg)
What areas are at high risk of disruption?
Payments FundingSavings and investments
Risk and credit
• P2P-payments• Mobile POS and in--
app purchases• Remittance and FX• Cryptocurrencies
• Crowdfunding• P2P-lending• «Flash loans»• Invoice financing
• Robo-advisors• Deep learning and
evolutionaryalgorithms
• Self service portals
• Big data• Social networks• Internet of Things• Predictive analysis
![Page 7: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/7.jpg)
11.10.2015 Presentasjon text7
Banks represent trust and have distribution power
![Page 8: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/8.jpg)
11.10.20158
Regulations tend to backfire
![Page 9: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/9.jpg)
11.10.20159
Incumbents are at risk of becoming a utility
![Page 10: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/10.jpg)
Collaboration is the key to succes
• Norgwegian banks have a long tradition fo collaboration
• Collaboration between banks and fintech startups could increase agility and innovation for banks and provide distribution power for fintechs
• There needs to be a business model that is mutually beneficial
• Roles need to be defined and clear
• How can banks approach fintech collaboration?
‒ Acquisitions
‒ Partnerships
‒ Accelerator programs
‒ Collaboration with exisiting players in the startup ecosystem
‒ Open Ecossytems and APIs
![Page 11: Fintech - friend or foe?](https://reader031.fdocuments.net/reader031/viewer/2022021418/58a225521a28ab527c8b45ed/html5/thumbnails/11.jpg)
11.10.2015 Presentasjon text11
Thank youChristoffer O. Hernæshttp://hernaes.com
@hernaes