Technological advancements continue to spearhead growth in the financial sector. As traditional banking methods become outdated, institutions have compensated by leveraging technology to optimize existing products and services.
Although we’ve witnessed a significant rise in digital account activities worldwide, enormous gaps remain. According to a press release from the World Bank in 2018, over 1.7 billion adults were still unbanked, more than 66% of whom use mobile devices in their daily lives. Consider also the high volume of people who are underbanked; therein lies tremendous untapped pathways for connection with banking and other financial services.
Incremental innovations have sparked great growth in a rapid time span, nevertheless, they represent just the tip of the iceberg for the ongoing transformation occurring in fintech.
The FinTech Revolution is dynamic and disruptive, which makes it extremely intriguing and open to innovation across traditional barriers in the world of finance.
Banks aren’t the only entities that stand to gain through fintech in the near future; newly created fintech processes are reshaping the financial structure in several industries, receiving serious demand and notoriety.
Plaid, a fintech startup that offers financial services, most notably- simple and secure ways for businesses to connect mobile apps with their customer’s bank accounts, has been acquired by financial services giant, VISA, for a jaw-dropping $5.3 billion in January 2020, per the Wall Street Journal. This acquisition certainly validates the notion that fintech innovations are highly sought after in existing/emerging marketplaces, to say the very least.
Preparing for emerging fintech innovations like blockchain to interact with marketplaces that have yet to be defined.
The latter half of the 20th century was a period of financial growth characterized by the centralization of finance, data procurement, and fiscal privilege. Major, undeniable defects have been exposed in the status quo.
Bitcoin emerged as an antidote amidst global financial calamity in late 2008, which got the ball rolling for fintech innovators to develop and iterate platforms for individuals and organizations to bypass third party brokers and in some cases, central banking altogether. These revelations continue to inspire a great deal of intense ideation, investment, and development of fintech-driven alternatives, geared towards disrupting their legacy counterparts.
The floodgates have opened for talented innovators in the fintech space to develop their ideas with great rigor, recognized credibility, and impressive valuations. In 2018, social trading and investment platform eToro announced a private round that raised over $100 million to continue the research and development of blockchain-backed technology and the digitization of assets.
Don’t blink, the incoming FinTech tidal wave will radically transform industries such as real estate, digital identity, crowdfunding, insurance, and governance.
Banks, corporations, and regulatory agencies alike are constantly aligning with the times, by integrating new financial technology into their services. Beyond bootstrapping fintech as an adaptive measure, it is critical for big players on the investment front to actively pursue strong positions in emerging fields, not just financially, but in employing innovative personnel to develop solutions as well.
The importance of divergent thinking in FinTech.
In an ecosystem teeming with speculation, excitement, and vast possibilities, success requires poise, open-mindedness, and diligent preparation. When “business as usual” doesn’t cut it for growth, it’s high time to entertain the fresh perspectives of lateral thinkers who approach solving problems creatively.
Does your organization consider innovative thinking in its current strategy?
Understanding and applying fintech innovation is vital for prosperity and growth, regardless of the business sector, scaling capacity, or overall goals. BlockSpaces focuses on providing credible consultation and product development to corporations who are looking for actionable ways to leverage blockchain technology. Another way that BlockSpaces promotes the Tampa Bay community as an up and coming innovation hub, is by hosting events that bring people together for discussion and exchange of ideas to form active networks around technology and innovation.
The FinTech Revolution: Talents, Rebels and Disruptive Innovation. February 20th at Embarc Collective, downtown Tampa.
BlockSpaces invites you to Embarc Collective on Thursday, February 20th, for an unforgettable night of presentations and discussion. This event features a panel of esteemed fintech innovators, who are excited to share their experiences and expertise to support your fintech knowledge and ventures.
Main Event: Matteo Rizzi: TALENTS & REBELS: Dealing with Corporate Misfits.
Matteo Rizzi is an unconventional entrepreneur, renowned as one of the foremost influencers in the fintech industry today through his deeply impactful body of work. Matteo is the author of “Talents & Rebels: Dealing with Corporate Misfits” and “Fintech Revolution.” He headlines the evening with an hour-long presentation, followed by a meet and greet/book signing for VIP guests. Don’t miss out.
A half-hour of networking at 5:00 PM will commence the evening, to acclimate everybody, before the presentation slate begins.
Session: Blockchain Task Force & FinTech Legislation Update.
Speakers: Samuel Armes and Jason Holloway.
The state of Florida has taken the initiative to stay on the cutting-edge of fintech innovation, with the recent signing of SB 1024: The Blockchain Bill, in May 2019. Join Samuel Armes and Jason Holloway as they discuss the importance and implications of these developments, including updates on the progress being made by the Blockchain Task Force within the Florida Department of Financial Services.
Session: SKUx Presentation.
Speakers: Bobby Tinsley and Kenneth Douglas.
SKUx is a Florida-based startup leveraging blockchain, AI, and payments to optimize the over trillion-dollar promotional offers industry. SKUx optimizes processes with patent-pending tech while eliminating the need for third-party clearinghouses. Take this opportunity to get a first-hand look at disruptive fintech innovation emerging from right here in Florida.
Session: Raising Capital in Florida.
Speakers: Andreas Calabrese, Shane Smith Ph.D., and Charlie Shrem.
As Tampa rises as a technology hub and startup ecosystem in Florida, it’s becoming highly competitive for founders to grab the attention of the right investors. In this session, a panel of seasoned industry experts will discuss ways in which entrepreneurs from this area can position themselves to impress savvy tech investors who are actively seeking to support the most promising, disruptive startups.
We can’t wait to see you there! Click to get your tickets now.