Recent years, from payments to wealth management, from peer-to-peer lending to crowdfunding, “fintech” firms are growing rapidly. These “fintech” firms which are familiar to the public include Lending Club, OnDeck, Venmo, Rate Setter and SocietyOne. Lending Club alone, funded about $2 billion loans last quarter, and their lending to-date is more than $24 billion.
In light of this, let’s look at this talk by Brett King, the co-founder and CEO of Moven, on the technology developments, their impact on the banking industry, and what the finance industry needs to embrace and innovate to meet the needs of customers.