Fintech for students
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FINTECH for students presentation 11022015
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Fintech for students
- 1. CodersTrust What’s fintech? FINTECH FOR STUDENTS Ferdinand Kjærulff Founder & CEO fk@coderstrust.com http://CodersTrust.com
- 2. The ultimate FINTECH disruption… 1
- 4. Privileges based on nationality …. 1
- 5. It was disrupted by capitalism once…. 1
- 6. And it can be done again…. 1
- 7. Freelance markets are booming…. 1
- 8. Deflationary Business Win . 1
- 9. 1 Riding the wave of the three fastest growing industries…
- 10. FIN TECH $2.9B ED TECH $91B WORK TECH $2.0B 3 *IBIS Capital Ed-Tech Rapport 7, 2014 **Accenture: Boom in Fin-Tech Investment Rapport 11, 2013 ***U.S. Staffing Industry Forecast: April Update” Source: Three TECH Combo….
- 11. Disrupting microfinance as we know it…. 1
- 12. In a joint venture with Grameen…. 1
- 13. 4. Be recruited & repay 3. Get real task 2. Learn to code Microfinance for students to upgrade their skills and earn more money on freelance portals 1. Get funded
- 14. CONCEPTUAL USERFLOW 1. Students register and link up all their online profiles to CodersTrust 1
- 15. ACADEMY 2. Students follow basic e-learning courses with tutorials and videos 1
- 16. WORK 3. Tasks from online workplaces are assigned to the student TOP 1O Recommended Jobs & Education +25.000 jobs posted weekly Hourly wage Experience Skill Level 1
- 17. LOAN MODEL $120• Health Insurance • Laptop Insurance • Mentor • Internet $100 Local account 1000 Students Y1 $1.3M fund $120 $120 Mobile Payment Microfinance Institution $220 $220 for 6 month Transparent money transfer for the student loan 1
- 18. 10% 10% SALARY SPLIT $360 $1000 Mobile Payment Freelancing task Microfinance Institution 40% Student 50% Lender BUSINESS MODEL To get projects and being able to pay back the loan $450 $90 $360 1
- 19. Benefits for our students $700 Monthly Salary after 1Y $22.000 total earnings in 3Y $14/h Salary in Y2 No coding skills Start Learning Design simple website Design websites, Ui/UX Expert Web designer Front End First Job Skills & $ Time Scoring of performance 1
- 20. The Financial Empowerment of Women… 1
- 22. Thank you! 2015
Editor's Notes
- Thank you for inviting me today to talk about FINTECH - I will try to present CodersTrust as a FINTECH case for the emerging markets, botto-of-the-pyramid or even failed states
- How many people in here is on SU? We migt take it for granted, but just think how disruptive it is: Universal acces to education Financial independence Equal opportunities Doesent mattr how rich your parents are? SU financed my studies as political science, I could study in the US and I could build my first company Anyone in here has the personal finance to start their onw fintech startup! How many in here is thinking of building their own startup? How many within FINTECH?
- SU, is just crazy cool. It is essentially a website where you can log-in and get access to student funding? How cool is that? Only, problem is that it is limited to Danish and EU citizens – to good to be true Rationale – public good with positive externalities, the market cannot produce sufficient level of education – so the state subsidized But if you live outside of Denmark/EU, you cannot get access to this kind of funding. Makes sense, since this system is finaced by the state and taxpayers money, so the state needs a return on investment sooner or later.
- But if you think of this outside the nationalistic perspective, the priviliges based on nationality is just as unjust as the aristocratic priviliges in the feudal sociaty and middle age. The noble had prinviliges given by the king that was appointed by god – not the people – so god given rights Now is just national birth that determines whether you have rights to SU or not…
- Luckily, that was dirupted by liberal capitalism once… the people revolted against this ssytem because it was not working..
- I think it can be done again… and as Max would say, it because our material base of the society is shifitng – its going digital and it is going online… money and the labor market is moving online.. It is no longer defined by national boundaries.
- Currently 12 mio registed, that might not sound of a lot, but with the current growth rate, mckinsey expect
- Most of the Internet’s Greatest Successes Have Been Deflationary Dramatically reduce costs in an industry with large incumbents and fat margins Can you provide a narrowly focused product to a niche of that market who will be attracted to dramatically lower costs? As the business grows we will find ways to continually lower costs by whatever mean new startups have a product that is INFERIOR to that offered by the competition but at a dramatically lower price with the seller opting for a very thin margin on their product. offer amazing value (low relative margins) at high volumes makes it nearly impossible for high-cost incumbents to compete
- The brainpower of the poorest 4 billion people in the world is without a doubt the world’s greatest underutilized resource. The rise of global online labor marketplaces presents an amazing opportunity to provide work and income to individuals in the most remote parts of the world. Millions of young people around the world cannot complete post-secondary education. This leaves valuable, income-generating skills unlearned, which means that years of higher wages will be permanently out of reach for these young people. The demographics of this problem are chilling: most of the productive capacity of the next generation is being left undeveloped. An estimate proposes that 100 million youth worldwide lack the ability to pay for school. Traditionally, job opportunities have strongly favoured those who lived in the right areas and knew the right people. New possibilities arise with online freelancing. The ability to work as an online freelancer has changed the rules dramatically; now, it is what you can do and how quickly and adeptly you can do it. With nothing but a computer and an internet connection, anyone anywhere can compete for jobs by applying their skills through online freelance jobs. Current Difficulty However, it remains difficult for companies and workers to find a good match when choosing a freelancer and for either party to know precisely what they are getting out of cooperating. Buyer/seller information asymmetries, when combined with opportunities for strategic behaviour, can impede markets; if sufficiently severe, they disrupt markets sometimes preventing them from existing. Secondly, labour is a service that is delivered over time, often accompanied by relationship-specific investments in human capital (e.g., learning a particular skill for a particular job). This creates a number of the incentive issues that make it hard for parties to fully cooperate. An Issue We Wish to Address Despite the rapid growth seen on the online marketplace, it is still a challenge to claim access to the vast possibilities. A person who does not have higher technical skills and technical education (often due to lack of financial resources) cannot take advantage of this trend. This is one of the issues we wish to address with CodersTrust.: To provide accessibility to this market. Access to this market is made possible because youth will be able to obtain an online education that is financed through microloans.
- The brainpower of the poorest 4 billion people in the world is without a doubt the world’s greatest underutilized resource. The rise of global online labor marketplaces presents an amazing opportunity to provide work and income to individuals in the most remote parts of the world. Millions of young people around the world cannot complete post-secondary education. This leaves valuable, income-generating skills unlearned, which means that years of higher wages will be permanently out of reach for these young people. The demographics of this problem are chilling: most of the productive capacity of the next generation is being left undeveloped. An estimate proposes that 100 million youth worldwide lack the ability to pay for school. Traditionally, job opportunities have strongly favoured those who lived in the right areas and knew the right people. New possibilities arise with online freelancing. The ability to work as an online freelancer has changed the rules dramatically; now, it is what you can do and how quickly and adeptly you can do it. With nothing but a computer and an internet connection, anyone anywhere can compete for jobs by applying their skills through online freelance jobs. Current Difficulty However, it remains difficult for companies and workers to find a good match when choosing a freelancer and for either party to know precisely what they are getting out of cooperating. Buyer/seller information asymmetries, when combined with opportunities for strategic behaviour, can impede markets; if sufficiently severe, they disrupt markets sometimes preventing them from existing. Secondly, labour is a service that is delivered over time, often accompanied by relationship-specific investments in human capital (e.g., learning a particular skill for a particular job). This creates a number of the incentive issues that make it hard for parties to fully cooperate. An Issue We Wish to Address Despite the rapid growth seen on the online marketplace, it is still a challenge to claim access to the vast possibilities. A person who does not have higher technical skills and technical education (often due to lack of financial resources) cannot take advantage of this trend. This is one of the issues we wish to address with CodersTrust.: To provide accessibility to this market. Access to this market is made possible because youth will be able to obtain an online education that is financed through microloans.
- When students join a CodersTrust IT training program, they are given an access to a user-friendly dashboard that allows them to control their work&study process from one place. In this all-in-one dashboard, students get funded by the backers and receive appropriate e-learning tools to start their online training. CodersTrust sends all the training materials through the dashboard and students learn to code in one of the educational institutions. After the students acquire enough skills and successfully pass the qualification tests, they are ready to move on to the next stage of their training. To test their skills, they get real world tasks from such online labor marketplaces as oDesk, Elance, and Freelancer. With minimum hourly wages, students proceed with their training and upgrading their qualification to move forward with their career development. With the help of the all-in-one IT training dashboard, students can also get recruited through such labor platforms as LinkedIn and GitHub. One more valuable feature of the CodersTrust dashboard is that it shows the statistics about hourly wages rise that students will find useful for tracking their growth. Speaking in general, all-in-one dashboard created by CodersTrust considerably facilitates the learning process of students. They don’t have to log in to multiple accounts to have an access to all the study tools they need.
- The brainpower of the poorest 4 billion people in the world is without a doubt the world’s greatest underutilized resource. The rise of global online labor marketplaces presents an amazing opportunity to provide work and income to individuals in the most remote parts of the world. Millions of young people around the world cannot complete post-secondary education. This leaves valuable, income-generating skills unlearned, which means that years of higher wages will be permanently out of reach for these young people. The demographics of this problem are chilling: most of the productive capacity of the next generation is being left undeveloped. An estimate proposes that 100 million youth worldwide lack the ability to pay for school. Traditionally, job opportunities have strongly favoured those who lived in the right areas and knew the right people. New possibilities arise with online freelancing. The ability to work as an online freelancer has changed the rules dramatically; now, it is what you can do and how quickly and adeptly you can do it. With nothing but a computer and an internet connection, anyone anywhere can compete for jobs by applying their skills through online freelance jobs. Current Difficulty However, it remains difficult for companies and workers to find a good match when choosing a freelancer and for either party to know precisely what they are getting out of cooperating. Buyer/seller information asymmetries, when combined with opportunities for strategic behaviour, can impede markets; if sufficiently severe, they disrupt markets sometimes preventing them from existing. Secondly, labour is a service that is delivered over time, often accompanied by relationship-specific investments in human capital (e.g., learning a particular skill for a particular job). This creates a number of the incentive issues that make it hard for parties to fully cooperate. An Issue We Wish to Address Despite the rapid growth seen on the online marketplace, it is still a challenge to claim access to the vast possibilities. A person who does not have higher technical skills and technical education (often due to lack of financial resources) cannot take advantage of this trend. This is one of the issues we wish to address with CodersTrust.: To provide accessibility to this market. Access to this market is made possible because youth will be able to obtain an online education that is financed through microloans.
- The brainpower of the poorest 4 billion people in the world is without a doubt the world’s greatest underutilized resource. The rise of global online labor marketplaces presents an amazing opportunity to provide work and income to individuals in the most remote parts of the world. Millions of young people around the world cannot complete post-secondary education. This leaves valuable, income-generating skills unlearned, which means that years of higher wages will be permanently out of reach for these young people. The demographics of this problem are chilling: most of the productive capacity of the next generation is being left undeveloped. An estimate proposes that 100 million youth worldwide lack the ability to pay for school. Traditionally, job opportunities have strongly favoured those who lived in the right areas and knew the right people. New possibilities arise with online freelancing. The ability to work as an online freelancer has changed the rules dramatically; now, it is what you can do and how quickly and adeptly you can do it. With nothing but a computer and an internet connection, anyone anywhere can compete for jobs by applying their skills through online freelance jobs. Current Difficulty However, it remains difficult for companies and workers to find a good match when choosing a freelancer and for either party to know precisely what they are getting out of cooperating. Buyer/seller information asymmetries, when combined with opportunities for strategic behaviour, can impede markets; if sufficiently severe, they disrupt markets sometimes preventing them from existing. Secondly, labour is a service that is delivered over time, often accompanied by relationship-specific investments in human capital (e.g., learning a particular skill for a particular job). This creates a number of the incentive issues that make it hard for parties to fully cooperate. An Issue We Wish to Address Despite the rapid growth seen on the online marketplace, it is still a challenge to claim access to the vast possibilities. A person who does not have higher technical skills and technical education (often due to lack of financial resources) cannot take advantage of this trend. This is one of the issues we wish to address with CodersTrust.: To provide accessibility to this market. Access to this market is made possible because youth will be able to obtain an online education that is financed through microloans.