Paul Schulte, Advisor, Banking and Financial Services
August 22nd, 2019
Paul Schulte is the Founder and Managing Editor of Shulte Research based in Singapore. Paul's roles[...]
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Fortune | Matt Harris | Aug 8, 2018
Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000.
I’ve been proven wrong once again.
For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million.
With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies.
Regardless of what VCs tell limited partners, or how media cover the industry, these businesses don’t necessarily have much to do with each other (besides the obvious of moving money around).
So while the investment numbers are up in aggregate, each sub-sector has a very different story. And it’s worth diving in more deeply to understand what’s really going on.
Wealth/Investing: Race to the bank
Wealth tech companies get a steady 10% of fintech investment year after year. There’s a durable view that they show real opportunity for disruption. One of the more interesting trends right now is that all the wealth and investment companies that have achieved scale—like SoFi, Acorns, and Wealthfront (another disclosure: my team has backed Acorns)—are doing the same thing: They’re adding a checking account. You could paint with a broad brush and say they are all trying to become banks. Not necessarily licensed banks, but rather, leveraging third parties and new technologies to try to become a consumer’s primary financial partner.
See: Lifehacks for When a Robot Wants Your Job
This is really fascinating to me and raises a key question for our industry, and our society: Will consumers bail on traditional banks? Will they go to their employer with a new direct deposit authorization form and say “send my money to Betterment, to Acorns, to SoFi”? This is truly a new phenomenon. If it works, there’s a whole new era of fintech coming, where the banks go from the “Empire Strikes Back” phase that they’re in right now—and they start to worry again. It doesn’t mean wealth tech is toast if it doesn’t work, but it’s striking that all these companies had the same ideas at the same time.
Venture investment: $1.2 billion in 2017 (Source: CB Insights)
Startup energy: Steady as she goes
Insurance: Fast growth leads to full stack
Insurance startups are really at a pivot right now. Companies like Oscar or ZhongAn have scaled from nothing to billions a year in funding, and in the process, they’ve decided to be full stack. Historically, insurance startups Insureon and Zenefits were simply brokers or managing general agents, but increasingly there’s a take that startups need to be(come) carriers. I certainly understand that instinct—if you don’t control the product, someone else controls the capital. So, I get it. But return on equity for carriers tends to be around 9%. It doesn’t make sense for a VC to invest in a carrier. Not at all.
Moving forward, the insurance tech players need to figure this out. It will be the difference between insurance getting really transformed or having a bunch of brokers with fancy apps. And that second future is not going to create a lot of equity value.
Venture investment: $1.4 billion in 2017 (Source: CB Insights)
Startup energy: Awkward teenage years
Real Estate: Disruption in full effect
Real estate and crypto are the two areas where we see the most growth. In real estate, five of the venture world’s 10 most recent unicorns—Compass, OpenDoor, WeWork, Airbnb and UCommune—are real estate companies, whether you think of them that way or not. OpenDoor, for instance, invented a true “prop” brokerage, where they don’t broker a sale for 6%, but instead buy the property, find another buyer and make money on the spread. Zillow now says they’re doing the same thing, and there have been a bunch of fast followers. This incredibly stodgy industry—which hasn’t changed in a hundred years—is getting re-made.
See: Real estate crowdfunding in Canada: portal insights for 2017/18
Venture investment: $1.2 billion in 2017 (Source: PitchBook)
Startup energy: First-movers moving fast
Cryptocurrency/Blockchain: Time to get serious
What can we say about crypto? Last year at our Fintech CEO Summit, we talked about how people were going to go to jail for initial coin offerings (ICOs). No one has gone to jail yet, but it’s tricky. ICO volume is still frothy, with a peak of $4.1 billion raised in March but otherwise running at roughly $1.5 billion a month. Plus, the noise out of government is getting louder and clearer that this is not some sort of safe harbor.
Beyond ICOs, we think about the crypto space in three parts: the crypto investing ecosystem, enterprise blockchain, and distributed applications.
For the first, a key question is: Will crypto be an asset class? Provisionally, I believe the answer is “yes.” The investing ecosystem is now maturing nicely, and several pioneers like Basis and Compound (last disclosure: both are portfolio companies), are filling in key elements of market structure, assuming people want to trade crypto at scale more in the future.
Regarding enterprise blockchain, is it actually a standalone business? The market is thriving if you count press releases, but not if you look for revenue outside of proof-of-concept. We provisionally said “no” to this question in the early days, but we have great entrepreneurs working on it—and I’m sure they’ll prove us wrong.
See: ‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Finally, distributed applications are the big prize. It’s clearly early days, but this is where the talent is heading. Will the Airbnb, Uber, and Amazon Web Services of the future simply be open source protocols powered by tokens that change the way we store our files, book our houses, book our travel, and manage our transportation? I don’t know when, but I believe we’ll get there. Someday.
Venture investment: $716 million in 2017 (Source: CB Insights)
Startup energy: Wild, wild west (and east and north and south)
Continue to the full article --> here
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org
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FintechZoom | Jung Min-seo | April 1, 2020 What’s the cybersecurity risk panorama for fintechs in 2020? Accenture’s perception offers some readability The tempo of digital transformation throughout the monetary panorama continues to quicken. In such an atmosphere the digital or cyber risk proposition evolves quickly, making it important to take care of the best requirements of know-how and preparedness, and hold updated with the impression of cyber tendencies. In response to Accenture’s 2019 Ninth Annual Price of Cybercrime report, monetary providers incurred the best cybercrime prices amongst all industries studied in 2018. See: On this analysis, Accenture explains: “As industries evolve and disrupt the present atmosphere, threats are dramatically increasing whereas turning into extra advanced. This requires extra safety innovation to guard firm ecosystems. The following value to our organisations and economies is substantial – and rising.” See: Smart Cities Offer Promises and Concerns Over Privacy Throughout all industries, Accenture discovered that data theft is the most costly and quickest rising consequence of cybercrime. Nonetheless, it famous that there are a number of drivers behind the evolving world cybersecurity risk for all sectors: Evolving targets: knowledge is now not the one goal in response to Accenture. Moderately, corporations worldwide ...
Read More
Fintech Magazine | By Matt High | March 31, 2020 We take a closer look at the eight innovative virtual banks that are digitally disrupting Hong Kong's financial services industry using technologies like AI, machine learning and Big Data With a national GDP of $341.4bn, Hong Kong is a rapidly growing economy and a centre of innovation and digital transformation. The special administrative region's history is rooted in the financial sector due to its low taxation, legislation that favours free trade and a currency pegged to the US Dollar. Despite the financial sector in Hong Kong being dominated by incumbents, it is seeing a rapid rise in fintechs, digital banks and new propositions that are driven by the latest technologies. The rise of virtual banking Last year the Hong Kong Monetary Authority announced that eight virtual banks had been selected to receive licenses to operate in the country. Below we look in more detail at those virtual banks. Ant SME: A subsidiary of Ant Financial, the virtual bank is reportedly going to target the Hong Kong SME market, and is dedicated to providing inclusive banking solutions to smaller businesses in the nation’s economy. Insight Fintech: A joint venture between smartphone ...
Read More
Nasdaq Markets | Brian Withers | March 31, 2020 Amid the market volatility, two financial services companies held investor presentations in the past several weeks. Digital payments ecosystem Square (NYSE: SQ) and financial services company American Express (NYSE: AXP) provided updates on the current market situation, and, more importantly, their long-term growth plans. Both companies play in the financial services sector, but they are at different points in their growth cycles and appeal to different kinds of investors. Let's dive into the details and make a determination as to which is a better buy today. See: Growth in Canadian FinTechs Having Impact on Canada’s Banking Landscape The companies at a glance American Express was founded more than 150 years before Square, but it is only three times Square's size in market capitalization. For dividend and value-minded investors, the financial stalwart boasts almost a 2% yield and incredible bottom-line profits. But Square is growing faster and has more growth opportunity. The case for Square Square's stock has gotten slashed recently as small shops are suffering under shelter-in-place and closure orders for non-essential businesses. In its investor day meeting, company management indicated payment transactions have declined in March, lowered its guidance for the ...
Read More
CBC News | Kathleen Harris | March 30, 2020 PM warns of 'serious consequences' for companies that abuse the system Businesses and non-profit organizations seeing a drop of at least 30 per cent in revenue due to COVID-19 will qualify for the government's 75 per cent wage subsidy program, Prime Minister Justin Trudeau announced today — adding that "serious consequences" await those who abuse the system. During the daily media briefing outside his residence at Rideau Cottage, Trudeau said the number of people a business employs will not determine its eligibility. Charities and companies big and small will qualify, he said. For those companies experiencing a decrease in revenues of at least 30 per cent, the government will cover up to 75 per cent of a salary on the first $58,700, which could mean payments of up to $847 a week. The prime minister also encouraged businesses to top up their employees wages with the remaining 25 per cent of their salaries. Trudeau said the wage subsidies will be retroactive to March 15, 2020. "We are trusting you to do the right thing," he said. "If you have the means to pay the remaining 25 per cent that is not covered by the subsidy, ...
Read More
Electronic Frontier Foundation | Lindsay Oliver |March 19, 2020 A greater portion of the world’s work, organizing, and care-giving is moving onto digital platforms and tools that facilitate connection and productivity: video conferencing, messaging apps, healthcare and educational platforms, and more. It’s important to be aware of the ways these tools may impact your digital privacy and security during the COVID-19 crisis. Here are a few things you should know in order to make informed decisions about what works best for you and your communities, and ways you can use security and privacy best practices to protect yourself and others. Free Slacks EFF has written a lot about Slack’s data retention issues when it comes to free versions of the software. With so many mutual aid networks and organizing groups coalescing on Slack to support our communities, it’s important that users are aware that the company retains their messages if they're using a free plan—and they can't automatically delete them. By default, Slack retains all the messages in a workspace or channel (including direct messages) for as long as the workspace exists. See: 58 Must-Read Remote Work Resources | 50 Great Remote Working Resources If you are using a paid ...
Read More
Linkedin | Richard Turrin | March 29, 2020 Neobanks are caught in the middle of a coronavirus induced "flight to quality" that they may not be able to fight. Investors are moving capital away from risk and toward the safety of larger incumbents. Preliminary figures from the Federal reserve show large cash movements into the larger incumbent banks, perhaps based on the belief that they are "too big to fail" and provide a haven for cash. Neobanks are trying to gain deposits and user trust in what is now a very different market than when they launched, and their response to these changes in upcoming months will be critical. For the record, I like neobanks and think that they have had a profoundly positive influence in making banking services better for everyone. See: NorthOne announces Series A round of $21M USD That said, their position as newcomers, heavy dependence on investor support, high valuations, and lack of profits puts some in the same category as WeWork. A cautionary comparison and perhaps an overstatement, but amid a financial crisis apropos. It’s now harder to see how ease of use will attract investors who are suddenly more worried about trust and safety. Let's look at how neobanks ...
Read More
TechCrunch | Steve O'Hear | March 24, 2020 It all started with a tweet from 11:FS co-founder Simon Taylor. If the U.K. government could be persuaded to provide financial support to the self-employed during the Coronavirus crisis, as it has already pledged for full-time employees, then Open Banking technology could be used to self-certify lost income, and therefore overcome one of the main hurdles of administering potential compensation. The founders of two other London-based fintechs, Fronted and Credit Kudos, were first to accept the challenge, and soon they were joined by dozens of other volunteers from the wider U.K. fintech community with the aim of turning around a working prototype of “Covid Credit” in just 48 hours. See: Fintechs getting a boost from coronavirus outbreak “Like many, we saw a challenge for non-salaried workers who are currently ineligible for government relief,” says Fronted’s Jamie Campbell. “By using Open Banking, we have been able to quickly develop a simple process that allows non-salaried workers to generate a proof statement which details their past income and the impact of COVID-19”. The Covid Credit team’s hypothesis is that evidencing and validating the income of a sole trader is significantly harder than a salaried ...
Read More
ADB Institute | March 25, 2020 Policy makers and researchers recently met at ADBI for a workshop examining green infrastructure investment, policy challenges, and economic implications in Asia. Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership was among the experts featured at the event. Afterwards, Schletz sat down with Asia’s Developing Future to discuss how blockchain and tokenized securities could revolutionize green finance and inclusive development in the region. The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI). Read the transcript bit.ly/2QIe9TH Policy makers and researchers recently met at ADBI for a workshop examining green infrastructure investment, policy challenges, and economic implications in Asia. Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership was among the experts featured at the event. Afterwards, Schletz sat down with Asia’s Developing Future to discuss how blockchain and tokenized securities could revolutionize green finance and inclusive development in the region. See: Blockchain and Tokenized Securities: The Potential for Green Finance Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership Blockchain is an innovative data structure that is used to verify ...
Read More
Harvard Business Review | Marco Iansiti and Greg Richards | March 26, 2020 As workplaces mandate that employees work from home, universities shift fully to online teaching, restaurants transition to online ordering and delivery, and automakers shut down their plants, we’re seeing the most rapid organizational transformation in the history of the modern firm. Yes, companies have dealt with financial crises like the 2008 Great Recession or the dot-com bust of the early 2000s. And many have endured wars and terrorist attacks, election surprises, and previous health crises. But never before have established and evolved economies faced this kind of shock. And nothing quite compares to the physical-digital divide Covid-19 is revealing and how it affects the nature of work. In some ways, you can trace what’s happening today to a huge digital transformation that’s already well underway. Firms have been moving to an increasingly digital core based on software, data, and digital networks for years, requiring a fundamentally new operating architecture. From Ant Financial to Facebook, the new digital firm gains its competitive advantage in three ways: by producing more at a lower unit cost (scale), by achieving a greater production variety (scope), and by pushing for improvement and innovation (learning) ...
Read More
NCFA Canada | March 25, 2020 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Mar 25: Why identity matters in an evolving online environment HOST: Tristram Waye, Fintech Friday's podcast episode GUEST: DAVID LUCATCH, President & Director – KABN Systems North America Inc. (Linkedin) KABN Links: kabnsystemsna.com | liquidavatar.com About this episode: David Lucatch of KABN Networks North America joins Tristram Waye for this episode of Fintech Friday. David discusses why identity is a foundational element of the evolving online and data environment, and why KABN Networks North America has developed a business around it. During this episode he will also discuss: How KABN ID works and why it’s a foundational technology The suite of products KABN Networks North America has developed around identity and why Their vision of the future including the release of Liquid Avatar BIO: David Lucatch has spent more almost 35 years in the international marketing arena and over 25 years of that developing technologies and taking them to market. David has held senior management posts and directorships at both private and public technology and media firms. David is an active supporter of numerous non-profit organizations and has been recognized and awarded internationally for his service and community ...
Read More
FintechZoom | Jung Min-seo | April 1, 2020 What’s the cybersecurity risk panorama for fintechs in 2020? Accenture’s perception offers some readability The tempo of digital transformation throughout the monetary panorama continues to quicken. In such an atmosphere the digital or cyber risk proposition evolves quickly, making it important to take care of the best requirements of know-how and preparedness, and hold updated with the impression of cyber tendencies. In response to Accenture’s 2019 Ninth Annual Price of Cybercrime report, monetary providers incurred the best cybercrime prices amongst all industries studied in 2018. See: On this analysis, Accenture explains: “As industries evolve and disrupt the present atmosphere, threats are dramatically increasing whereas turning into extra advanced. This requires extra safety innovation to guard firm ecosystems. The following value to our organisations and economies is substantial – and rising.” See: Smart Cities Offer Promises and Concerns Over Privacy Throughout all industries, Accenture discovered that data theft is the most costly and quickest rising consequence of cybercrime. Nonetheless, it famous that there are a number of drivers behind the evolving world cybersecurity risk for all sectors: Evolving targets: knowledge is now not the one goal in response to Accenture. Moderately, corporations worldwide ...
Read More
Read More
Fintech Magazine | By Matt High | March 31, 2020 We take a closer look at the eight innovative virtual banks that are digitally disrupting Hong Kong's financial services industry using technologies like AI, machine learning and Big Data With a national GDP of $341.4bn, Hong Kong is a rapidly growing economy and a centre of innovation and digital transformation. The special administrative region's history is rooted in the financial sector due to its low taxation, legislation that favours free trade and a currency pegged to the US Dollar. Despite the financial sector in Hong Kong being dominated by incumbents, it is seeing a rapid rise in fintechs, digital banks and new propositions that are driven by the latest technologies. The rise of virtual banking Last year the Hong Kong Monetary Authority announced that eight virtual banks had been selected to receive licenses to operate in the country. Below we look in more detail at those virtual banks. Ant SME: A subsidiary of Ant Financial, the virtual bank is reportedly going to target the Hong Kong SME market, and is dedicated to providing inclusive banking solutions to smaller businesses in the nation’s economy. Insight Fintech: A joint venture between smartphone ...
Read More
Read More
Nasdaq Markets | Brian Withers | March 31, 2020 Amid the market volatility, two financial services companies held investor presentations in the past several weeks. Digital payments ecosystem Square (NYSE: SQ) and financial services company American Express (NYSE: AXP) provided updates on the current market situation, and, more importantly, their long-term growth plans. Both companies play in the financial services sector, but they are at different points in their growth cycles and appeal to different kinds of investors. Let's dive into the details and make a determination as to which is a better buy today. See: Growth in Canadian FinTechs Having Impact on Canada’s Banking Landscape The companies at a glance American Express was founded more than 150 years before Square, but it is only three times Square's size in market capitalization. For dividend and value-minded investors, the financial stalwart boasts almost a 2% yield and incredible bottom-line profits. But Square is growing faster and has more growth opportunity. The case for Square Square's stock has gotten slashed recently as small shops are suffering under shelter-in-place and closure orders for non-essential businesses. In its investor day meeting, company management indicated payment transactions have declined in March, lowered its guidance for the ...
Read More
Read More
CBC News | Kathleen Harris | March 30, 2020 PM warns of 'serious consequences' for companies that abuse the system Businesses and non-profit organizations seeing a drop of at least 30 per cent in revenue due to COVID-19 will qualify for the government's 75 per cent wage subsidy program, Prime Minister Justin Trudeau announced today — adding that "serious consequences" await those who abuse the system. During the daily media briefing outside his residence at Rideau Cottage, Trudeau said the number of people a business employs will not determine its eligibility. Charities and companies big and small will qualify, he said. For those companies experiencing a decrease in revenues of at least 30 per cent, the government will cover up to 75 per cent of a salary on the first $58,700, which could mean payments of up to $847 a week. The prime minister also encouraged businesses to top up their employees wages with the remaining 25 per cent of their salaries. Trudeau said the wage subsidies will be retroactive to March 15, 2020. "We are trusting you to do the right thing," he said. "If you have the means to pay the remaining 25 per cent that is not covered by the subsidy, ...
Read More
Read More
Electronic Frontier Foundation | Lindsay Oliver |March 19, 2020 A greater portion of the world’s work, organizing, and care-giving is moving onto digital platforms and tools that facilitate connection and productivity: video conferencing, messaging apps, healthcare and educational platforms, and more. It’s important to be aware of the ways these tools may impact your digital privacy and security during the COVID-19 crisis. Here are a few things you should know in order to make informed decisions about what works best for you and your communities, and ways you can use security and privacy best practices to protect yourself and others. Free Slacks EFF has written a lot about Slack’s data retention issues when it comes to free versions of the software. With so many mutual aid networks and organizing groups coalescing on Slack to support our communities, it’s important that users are aware that the company retains their messages if they're using a free plan—and they can't automatically delete them. By default, Slack retains all the messages in a workspace or channel (including direct messages) for as long as the workspace exists. See: 58 Must-Read Remote Work Resources | 50 Great Remote Working Resources If you are using a paid ...
Read More
Read More
Linkedin | Richard Turrin | March 29, 2020 Neobanks are caught in the middle of a coronavirus induced "flight to quality" that they may not be able to fight. Investors are moving capital away from risk and toward the safety of larger incumbents. Preliminary figures from the Federal reserve show large cash movements into the larger incumbent banks, perhaps based on the belief that they are "too big to fail" and provide a haven for cash. Neobanks are trying to gain deposits and user trust in what is now a very different market than when they launched, and their response to these changes in upcoming months will be critical. For the record, I like neobanks and think that they have had a profoundly positive influence in making banking services better for everyone. See: NorthOne announces Series A round of $21M USD That said, their position as newcomers, heavy dependence on investor support, high valuations, and lack of profits puts some in the same category as WeWork. A cautionary comparison and perhaps an overstatement, but amid a financial crisis apropos. It’s now harder to see how ease of use will attract investors who are suddenly more worried about trust and safety. Let's look at how neobanks ...
Read More
Read More
TechCrunch | Steve O'Hear | March 24, 2020 It all started with a tweet from 11:FS co-founder Simon Taylor. If the U.K. government could be persuaded to provide financial support to the self-employed during the Coronavirus crisis, as it has already pledged for full-time employees, then Open Banking technology could be used to self-certify lost income, and therefore overcome one of the main hurdles of administering potential compensation. The founders of two other London-based fintechs, Fronted and Credit Kudos, were first to accept the challenge, and soon they were joined by dozens of other volunteers from the wider U.K. fintech community with the aim of turning around a working prototype of “Covid Credit” in just 48 hours. See: Fintechs getting a boost from coronavirus outbreak “Like many, we saw a challenge for non-salaried workers who are currently ineligible for government relief,” says Fronted’s Jamie Campbell. “By using Open Banking, we have been able to quickly develop a simple process that allows non-salaried workers to generate a proof statement which details their past income and the impact of COVID-19”. The Covid Credit team’s hypothesis is that evidencing and validating the income of a sole trader is significantly harder than a salaried ...
Read More
Read More
ADB Institute | March 25, 2020 Policy makers and researchers recently met at ADBI for a workshop examining green infrastructure investment, policy challenges, and economic implications in Asia. Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership was among the experts featured at the event. Afterwards, Schletz sat down with Asia’s Developing Future to discuss how blockchain and tokenized securities could revolutionize green finance and inclusive development in the region. The views in this podcast do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI). Read the transcript bit.ly/2QIe9TH Policy makers and researchers recently met at ADBI for a workshop examining green infrastructure investment, policy challenges, and economic implications in Asia. Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership was among the experts featured at the event. Afterwards, Schletz sat down with Asia’s Developing Future to discuss how blockchain and tokenized securities could revolutionize green finance and inclusive development in the region. See: Blockchain and Tokenized Securities: The Potential for Green Finance Marco Schletz from the United Nations Environment Program Technical University of Denmark Partnership Blockchain is an innovative data structure that is used to verify ...
Read More
Read More
Harvard Business Review | Marco Iansiti and Greg Richards | March 26, 2020 As workplaces mandate that employees work from home, universities shift fully to online teaching, restaurants transition to online ordering and delivery, and automakers shut down their plants, we’re seeing the most rapid organizational transformation in the history of the modern firm. Yes, companies have dealt with financial crises like the 2008 Great Recession or the dot-com bust of the early 2000s. And many have endured wars and terrorist attacks, election surprises, and previous health crises. But never before have established and evolved economies faced this kind of shock. And nothing quite compares to the physical-digital divide Covid-19 is revealing and how it affects the nature of work. In some ways, you can trace what’s happening today to a huge digital transformation that’s already well underway. Firms have been moving to an increasingly digital core based on software, data, and digital networks for years, requiring a fundamentally new operating architecture. From Ant Financial to Facebook, the new digital firm gains its competitive advantage in three ways: by producing more at a lower unit cost (scale), by achieving a greater production variety (scope), and by pushing for improvement and innovation (learning) ...
Read More
Read More
NCFA Canada | March 25, 2020 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Mar 25: Why identity matters in an evolving online environment HOST: Tristram Waye, Fintech Friday's podcast episode GUEST: DAVID LUCATCH, President & Director – KABN Systems North America Inc. (Linkedin) KABN Links: kabnsystemsna.com | liquidavatar.com About this episode: David Lucatch of KABN Networks North America joins Tristram Waye for this episode of Fintech Friday. David discusses why identity is a foundational element of the evolving online and data environment, and why KABN Networks North America has developed a business around it. During this episode he will also discuss: How KABN ID works and why it’s a foundational technology The suite of products KABN Networks North America has developed around identity and why Their vision of the future including the release of Liquid Avatar BIO: David Lucatch has spent more almost 35 years in the international marketing arena and over 25 years of that developing technologies and taking them to market. David has held senior management posts and directorships at both private and public technology and media firms. David is an active supporter of numerous non-profit organizations and has been recognized and awarded internationally for his service and community ...
Read More
Read More
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