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Startup Digest

FinTech

May 27, 2016

Hello FinTech fans,

Here's the latest edition of the FinTech Digest.  Lots happening this week.  Hope you enjoy it and, as always, reach out with any questions.

Best,
Thilmin

FinTech Startup Digest is curated by:
Thilmin Gee

Thilmin Gee - Global Payments and FinTech Startup Enthusiast

Contact Thilmin Gee at thilmin.gee@startupdigestmail.com

Camron Miraftab

Camron Miraftab - Capital Markets Consultant and Start-up Enthusiast

Contact Camron Miraftab at camron.miraftab@startupdigestmail.com

Applications Open for Techstars IoT Accelerator in NYC

The Techstars IoT Accelerator is for startups who are focused on the infrastructure of the future with specific emphasis on software and artificial intelligence, connected enterprise, smart cities and energy, advanced manufacturing, health and wearables, logistics and automotive, VR, AR, drones and robotics, agriculture, and the connected home. Applications close July 10 and the program takes place in NYC. Learn more.

Millennials Have an Entirely Different Approach to Investing Than Their Parents

Business Insider

Consumer behavior changes the status quo, and that is why it's important to note that Millennials have a very different investment mindset than the Baby Boomers.  Millennials are more focused on short-term needs and lower-risk investments, whereas Baby Boomers have focused on building wealth in the long run.  Business Insider calls out two factors to this shift in Millennials.  The first is that Baby Boomers provide financial support to Millennials into their adult age.  The second is that Millennials have been influenced by the economic crisis.

Deloitte Report on Peer-to-Peer Lending

Business Insider

Deloitte recently published a report on the online lending industry where the company concluded that marketplace lenders are unlikely to pose a threat to established banks.  Deloitte attributes the marketplace lenders early success to unsustainable circumstances such as low interest rates.  The report goes on to suggest that the marketplace lenders will have stronger success in niche markets as opposed to the mass market once circumstances become less favorable.

Global Capital Markets 2016: The Value Migration

BCG Perspectives

BCG released a new report, "The Value Migration," where the company predicts that asset management will overtake investment banking as the dominant Wall Street source of revenue.  However, one large assumption is that the current cost structure will remain in place even thought that cost structure is currently being tested by financial advising startups.

Is PayPal Becoming Visa's Best Frenemy?

TheStreet

PayPal has been a frenemy to Visa since the platform accepts cards, but allows customers to pay with ACH.  Visa CEO Charles Scharf said, at a technology and media conference hosted by JPMorgan Chase, that it will start to view PayPal as a foe if PayPal continues to push their ACH product which is more profitable for PayPal. 

FinTech Startup Revolut Has Handled $500M on its Cards in 10 Months

Business Insider

Revolut, a London based startup, allows travelers to avoid foreign exchange fees when making purchases abroad.  The company provides an app that can link to a prepaid MasterCard where the customer loads funds from a domestic bank account.  This app / card combo allows customers to spend in over 90 currencies at the interbank rate, or the best exchange rate available with no fees.

Shared by Member: DBS Accelerator 2016 Accepting Applications!

Spark the future of banking! The DBS accelerator is designed for startups and founders with fintech solutions ranging from artificial intelligence, blockchain, to mobile banking and financial management. The 12-week mentor-driven programme is located in Hong Kong. Applications to join the 2016 cohort close June 5th. Learn more at dbs-accelerator.com.

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