From casual peer-to-peer payment systems to financial literacy blogs, the financial tech space has been reinvented in recent years. What can we expect to see in fintech for 2015? Well, to start, a focus on people, and their desire for greater transparency, sharability and mobility. As legacy banks and up-and-coming disrupters solidify their strategies for the year, we believe these three trends will be the major catalyst for new fintech offerings.
1. Money management goes social
- Peer-to-peer payment app recently acquired by PayPal that includes a running feed of your friends’ payments.
- Predicted to reach $90 billion in payments by 2017
- Leadership: Iqram Magdon-Ismail, Co-Founder; Andrew Kortina, Co-Founder; Michael Vaughan, COO; James Turnbull, VP Engineering
- App that aims to help novice investors invest in stocks they already know and like by using their friends’ and their social media activity to recommend stocks.
- Leadership: Andy Swan, Co-founder; Brandon Powers, Tech Lead; and Michael Branch, Project Manager
2. The collaborative economy swells
Rent the Runway:
- Rent black tie dresses, accessories and more from this fast growing company
- Revenue is projected to top $50 million in 2014
- Leadership: Jennifer Hyman, CEO and Co-Founder; Jennifer Fleiss, Head of Business Development and Co-Founder; Beth Kaplan, President and COO; John Rucker, CFO
- Digital community marketplace for people to rent out, discover and book accommodations around the world
- Valued at $10 billion, rising to $13 billion with recent employee stock sale
- Leadership: Brian Chesky, Co-founder; Nathan Blecharczyk, Co-founder; Joe Gebbia, Co-founder; Andrew Swain, Co-founder
3. Financial firms embrace digital (content)
- Wants to use artificial intelligence to deliver personalized advice to the bank’s wealthiest clients.
- Leadership: Andrea Orcel, CEO; Nigel Bretton, CFO; Mary Kleckner, Executive Director; Todd Becker, Executive Director
- Invested $15 million in Kensho Technologies with one immediate goal being to answer complex financial questions in plain English
- Leadership: Lloyd Blankfein, CEO; Gary Cohn, President and COO; Harvey Mitchell Schwartz, EVP and CFO; Stephen Scherr, CSO
RelSci is a technology solutions company that helps create competitive advantage for organizations through a crucial yet vastly underutilized asset: relationship capital with influential decision makers.
Get leadership articles sent to you each week with our RelSci 5 newsletter.