I journeyed into the heart of FinTech and Here is What I Learned — Part 1

I like money. I like technology. What could go wrong?

Money + Technology = FinTech?
Gordon Geko in the 1987 film Wall Street that most millennials have never seen.
Scrooge McDuck is an old, white, rich duck.

What even is finance?

According to the government, the financial services industry includes the following types of businesses:

  1. Asset Management
  2. Insurance
  3. Venture Capital — or VC as they say in Silicon Valley
  4. Private Equity — Called PE by people who think they are fancy
Kim with her #money.

Who is at the party?

Here’s a quick round-up of what you can expect to find at a FinTech meetup in New York.

  • Developer shops and agencies that build financial tools and applications
  • Many different financial products: investment, consumer banking and credit and lending, financial products like
  • Apps Acorns and Stash more in line with consumer
  • Startups that originate loans like Climb and Better
  • Business enablement — billing or whatever
  • Personal finance
  • Blockchain and cryptocurrencies
  • All the companies that deal with delivering data, analytics, and visualizations
  • Giant companies with enterprise technology products that sort of relate to finance through data (Bloomberg)
  • Financial news and media (also Bloomberg)
  • Security managers that use the tools from Investment Banks, banks that serve businesses and individuals, funds (mutual funds, retirement funds, family offices)

Culture Clash

Have your eyes rolled to the back of your head yet? Many people — like software developers — who are excited by the casual, hack it, geekdom of startups might be put off by the staid corporate cultures often found in the banking industry.

Marceline the Vampire Queen is so bored.

For marketing folks at startups who use data, tell stories, want better results, and to be happier at work.

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