Financial Services Disruption by Tom Loverro at RRE Ventures
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The financial services industry is influx. Banks are being disrupted in both consumer and business services, while algorithms continue to replace people across the financial services industry creating opportunities for new entrants.
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Financial Services Disruption by Tom Loverro at RRE Ventures
- 1. Thomas Loverro @tomloverro Trends in Financial Services Note: Slides excerpted from a presenta4on to the Life Insurance industry. Examples are meant to be illustra4ve not comprehensive.
- 2. Banking is Under A7ack
- 5. Algorithms are Replacing People Across Financial Services
- 6. Financial Product 1.0 2.0 Banking Teller Algorithm Hedge Funds Trader Algorithm Insurance Underwriter ? Lending Underwriter Algorithm Mutual Funds PM Algorithm Wealth Advisor Algorithm VC / PE Investor ?
- 7. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% %ofBadsCaptured Decline Rate (% of Applicants Declined) OnDeck score FICO Random 1 Algorithms Win