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FINANCIAL SERVICES:
New business models and big opportunities
By MIT Technology Review
Courtesy: http://www.CertifiedMedicalPlanner.org
The financial services industry is turning to bold initiatives to propel from pandemic response to business growth. And, among financial services institutions, 62% are looking to ramp up tech investments, and another 62% expect to move IT and business functions to the cloud, compared with 46% across industries.
For example, in a recent report, Nucleus Research found that cloud deployments deliver four times the return on investment as on-premises deployments do.
INDUSTRY RELATED: https://medicalexecutivepost.com/2014/09/24/is-the-financial-services-industry-all-fed-up/
TRANSFORMATION: https://medicalexecutivepost.com/2016/12/28/the-most-transformational-era-in-financial-services-since-the-1980s/
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Filed under: Financial Planning, Insurance Matters, Investing, Risk Management | Tagged: fin-tech, financial planners, financial services, Nucleus Research |
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FINTECH,
Fintech has become more popular than a white Telfar bag. After an $800 million funding round, Revolut, a London-based fintech startup, is now the UK’s biggest private company ever with a valuation of $33 billion. It was worth just $5.5 billion last year.
Revolut falls into the category of “neobanks,” which plug into traditional banking infrastructure and repackage it with a smooth, easy-to-navigate platform. Revolut allows users to bank, invest, transfer money, budget, or do anything else their financial heart desires.
When you say, “Invest in my new fintech startup,” investors say, “How much?” $1 out of every $5 raised globally last quarter went to the fintech industry for a total of $33.7 billion, per CB Insights. With Stripe and Klarna, fintech boasts two of the five most valuable unicorns in the world.
It’s also clear that Europe doesn’t need help from Ted Lasso to build world-beating fintechs.
Klarna, the Swedish buy-now-pay-later company responsible for the staggering amount of Girlfriend exercise dresses in your closet, snagged a $46 billion valuation last month.
Wise, a British money-transfer app, was the first tech company to go public on the London Stock Exchange via direct listing last week. The company was valued at $11 billion and its listing was a huge win for the burgeoning fintech industry the country has been trying to birth since Brexit.
Lex
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