This Week in Fintech

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This weekly summary from our 5 experts, brings you insights based on their experience as investors, entrepreneurs & executives.

Ilias Hatzis started his first company, an internet search engine, during the dot-com era & now focusses on crypto.

Efi Pylarinou worked for top tier Wall Street firms and is now a top global Fintech influencer.

Jessica Ellerm is CEO of Zuper Superannuation & previously worked for a top Fintech startup, Tyro.

Patrick Kelahan is a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners.

Arunkumar Krishnakumar is a VC investor, podcast host & writer focused on deep technology & sustainability.

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Your Editor is Bernard Lunn a Fintech deal-maker, investor, entrepreneur & advisor. He is CEO of Daily Fintech and author of The Blockchain Economy.

Monday Ilias Hatzis @iliashatzis our Greece-based crypto entrepreneur (Founder & CEO at Mercato Blockchain Corporation AG and Weekly Columnist at Daily Fintech) wrote What are the obstacles blocking the mass-adoption of cryptocurrencies?

It’s been more than ten years since Satoshi Nakamoto published Bitcoin’s white paper. The market capitalization for cryptocurrencies is over $200 billion, but cryptocurrencies haven’t had much success in going mainstream. Over the years, the adoption of cryptocurrencies has been rising and the sudden price hikes in 2013 and 2017 did help raise awareness and encouraged adoption. Bitcoin has faired far better than other cryptocurrencies, with giants like Microsoft, Expedia and a few others accepting Bitcoin payments. Yet, cryptos original goal has not been realized, and cryptocurrency still has few use cases. As another year is coming to a close, cryptocurrencies still need to overcome some major roadblocks.

Editor note: Bitcoin after 10 years is a speculative store of value with huge debate about the value. That is one leg. Can it get two more legs – medium of exchange and unit of account – to become mainstream? This article is a good overview of what is needed for that to happen, a good list for entrepreneurs and investors to think about.

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Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser  founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019 wrote How innovative can Goldman Sachs be with its planned robo-advisor?

Maybe Goldman Sachs leads the way so that Digital Advice reaches the $1.26 trillion projected by 2023. The large players are moving down-market, slowly and steadily. Goldman Sachs moved Marcus into their asset management division last year and has just announced that they will launch a robo-advisor with a $5k minimum next year. They acquired early on, Honest Dollar for digital retirement savings and Clarity Money, a PFM app. Both are mobile offerings.

Editor note: Goldman Sachs combines the tech smarts and agility of a digital startup with the scale and regulatory protection of a major financial institution. This article provides insights into how they are doing this.

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Wednesday Jessica Ellerm @jessicaellerm, our Australia-based Fintech entrepreneur (a thought leader specializing in Small Business and the Gig Economy & CEO/Co-Founder of Zuper, a new superannuation startup in Australia wrote bill.com IPO not the end of its global growth story in B2B invoicing

Bill.com, one of the big success stories of the fintech SME space, is expected to list on the New York Stock Exchange this Wednesday the 11th of December. The company sits squarely in the sweet spot of SME action, namely combining business software and payments to ease friction in the unsexy AP and AR space. It will look to raise US$100,000,000 with a target price of $19 – $21.

It might be the back office, but AP and AR are mission critical for SMEs. Despite this, so many US businesses still rely on cheques and inefficient manual processing workflows, that can suck the cash flow life blood out of a small operation.

Editor note: Ask small business owners what keeps them up at night and you will hear some story around cash flow. Bill.com has got to IPO by focussing relentlessly on this problem when it was a “boring” space. Their IPO was well received by the market.

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Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert (a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners who also serves the insurance and Fintech world as the ‘Insurance Elephant’) wrote No Elephant is an island- resources maketh the beast

No one can know all in an industry, and surely that thought applies to insurance and InsurTech.  The Insurance Elephant knows the business is comprised of many parts that in aggregate lead to the insurance customer.  It’s the end of 2019 and as such seems an apt time to list and appreciate the many persons who are resources for me, and surely can be resources for all.  Please do review the list, gain an understanding of the unique contributions each in the list brings.

Editor note: This is a great list of 31 movers, shakers and thought leaders in the global Insurtech market.

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Friday Arunkumar Krishnakumar @karunk, our London based Fintech investor, (Venture Capital investor at Green Shores Capital focusing on deppp technology & sustainability) wrote Christmas shopping? Track your carbon footprint with Mastercard and Doconomy

Alibaba’s Single’s day sales hit $38 Billion in 24 hours. The US Black Friday Online sales was $7.4 Billion and Cyber Monday sales were even stronger at $9.2 Billion. Do we know the impact of this mindless consumerism on our planet?

We will, and soon, thanks to Mastercard’s investment and collaboration with Doconomy.

Only last week I wrote about Climate change and how Fintechs should wake up to the changing global landscape and act. We are witnessing and combating the biggest crisis that humanity has ever faced. It is critical that we come together and address it.

On that note, I proposed a few solutions that financial services and fintechs could come up with to track climate impact of business decisions.

Editor note: Capturing the Carbon footprint of purchases at the transaction level is an idea whose time has come. Fintech is important because money makes the world go around. That won’t matter if climate change destroys the world. This is required reading (and action) for those who think Fintech can provide a small part of the answer.

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