This document discusses the concept of fintech, or financial technology. It explains that fintech combines finance and technology and has become popular due to factors like open source libraries, cloud computing, APIs, and increased mobility. The document outlines different eras and concepts in fintech, including early online banking (Fintech 1.0), the rise of mobile apps and services (Fintech 2.0), personal financial management tools, robo-advisors, peer-to-peer lending, crowdfunding, mobile payments, blockchain technology, and how insurance is adapting to fintech. It provides examples for many of these fintech areas and concepts.
4. Why is Fintech
so popular?
Because of:
Open source
E.g., library
Cloud computing
Application programming interface (API)
E.g., google maps
Mobility
From want to mustmust
8. Peer to Peer
Loan
New type of loan in e-commerce
E.g., Kiva
1% to 3% service fee
Source: https://www.guideadvisor.com/stories/seizing-opportunities-alleviate-poverty-guidesgiveback/
12. Payment
From cash to caseless
Mobile payment (e-wallet)
E.g., Apple pay, Samsung pay, LINE pay
Square (3.25% service fee)
13. Cash out (no need to find ATM)
P2P money transfer
E.g., Transferwise (service fee & difference of currency rate)
Source: http://thewealthguy.com.au/international-overseas-money-transfers-fees-transferwise/
14. Insurance
Insurance in Fintech 2.0
DNA & lifestyle
AXA life insurance (Withing Pulse)
Telecommunication & Informatics
Pay as you drive (distance)
Pay how you drive (behavior)
15. Blockchain
Bitcoin is based on blockchain technology
Source: https://www.weforum.org/agenda/2016/06/blockchain-explained-simply/
17. The Future of
Fintech
Source: https://globenewswire.com/news-release/2016/04/18/829516/0/en/Banks-Struggle-to-Keep-
Pace-with-FinTech-Disruption-Finds-World-Retail-Banking-Report-2016.html
