Panel: Why is the financial services industry struggling to embrace fintech?
summary
Discussion names concrete blockers: legacy risk frameworks, org structure and incentives that stop change; banks have ~300 million euros tech budgets yet prefer to buy with 5–10 million investments; integrations take 1.5 years not the promised 2–3 months; fintech hype begins in 2014–2015 and many outfits still lack profitable business models. Examples cited include Uber adding payments and loans and big tech entering India, and around 6–7k pitch decks seen with execution and problem fit repeatedly missing.
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chapters (17)
- 0:00Introduction
- 4:20Why am I here
- 5:27Financial services struggling to embrace fintech
- 6:44How have you been with two different banks
- 9:37Why is the financial services industry struggling to embrace fintech
- 11:17Which one is the most interesting
- 15:04Why did you sell to a bank
- 17:32Opportunity in the fintech space
- 19:26How important is the tech element
- 21:29Investment side walls
- 22:29Execution is important
- 23:04What is the problem
- 23:51The devils advocate
- 24:51The non banking perspective
- 25:56The payment perspective
- 27:11The second dimension
- 28:38Where is it
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