Mentor Archives - CFTE

Around Fintech in 80 Days: EP2 – What is Fintech (PART 2) – CFTE Blog

cfteadmin — Wed, 14 Feb 2018 12:48:27 +0000

[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”no” min_height=”” hover_type=”none” link=””][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”rgba(224,222,222,0)” top_margin=”10px” bottom_margin=”5px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text]

Around Fintech in 80 Days: EP2 – What is Fintech (PART 2)

In the 2nd episode of Around Fintech in 80 Days series, Huy picks up where Nicolas left off and dives deeper to help provide a more complete understanding of Fintech by answering some of Nicolas’ burning questions.
You can also view this episode on iTunes | YouTube

About Around Fintech in 80 Days

Around Fintech in 80 Days is a unique mentoring process brought to life as a series of Vlogs originally published on Facebook where a Fintech Entrepreneur (Huy Nguyen Trieu) mentors an ambitious young startup founder (Nicolas Tonnard) on how Fintech is transforming the finance industry and the opportunities this represents. In their discussions, they cover a range of topics including Blockchain, P2P Lending, Bitcoin, Challenger Banks, Machine Learning, Big Data, Open Banking and much more.
The series is split into 12 chapters with each chapter containing a series of videos explaining the theme in more detail as follows:
1. What is Fintech
2. Technology in Fintech
3. Education in Fintech
4. Collaboration between Fintech startups and incumbent banks
5. Investment in Fintech
6. Outsiders in Fintech
7. Fintech strategy
8. Neobanks and Challenger banks
9. Bitcoin & Blockchain
10. P2P Finance
11. Ecosystems
12. Fintech: finance for millennials?
We hope you enjoy this episode and if you’d like a more in-depth overview of the main Fintech trends, please have a look at our online Fintech course, Around Fintech in 8 Hours here: http://aroundfintech.cfte.education/
For more information on CFTE, please visit: http://www.cfte.education/
And don’t forget, if you’d like to be notified when the next episode goes live, please subscribe to the podcast.
For more information on CFTE and to learn about our latest projects and be involved in our ecosystem, please subscribe to our weekly newsletter below.

Transcript of Video

Morning everyone and thanks a lot, Nicola. I’m currently in London. Nicola was in Paris. And as you can see, in London it’s quite wet and windy. So I was on my way to Imperial College and I was stuck in the rain. So I’m very excited to be talking and trying this experiment of around Fintech in 80 days with Nicola. And I will try to make it fun.
As a quick introduction, I run the disruptive group. Which is a business builder in finance. I have experience both in science and technology. I was in banking for quite a while. I was most recently a managing director at CT. And I launch businesses and activities in banks. Before that, I started as an entrepreneur and I was a CEO of a tech startup in the U.S. at the end of the 90’s. Which was a very very interesting lesson. We got amazing investors, amazing technology and amazing team. But to come back to, to come back to Nicola’s point, our timing was wrong. Because we did LinkedIn but five years before LinkedIn.
So for in Fintech, I’ve been in involved in Fintech for quite awhile. I write a blog called “Disruptive Finance” and I love to share and exchange and educated about Fintech. Because I think that anyone who is in finance today, need to understand the technology. Anyone in finance needs to understand innovation. In the same way as 10 years ago, 15 years ago, if you were in advertising, if you were in the media if you were in travel, you had to understand technology because it had such an impact on your business, basically.
So to come back to, to come back to the point of Nicola about what is Fintech? and is it only disruptors? I think Fintech is a tricky and dangerous word. I would say. Because people tend to think of Fintech as startups, which they are, but it is much much more than startups. I think that what we’re talking about is really about the impact of technology on finance which is much much broader than startups.
The article that Nicola refers to, is an article I wrote two or three years ago but I think it’s still quite relevant. Where I looked at the different types of players in that ecosystem. Fintech startups are definitely one. And the Fintech startups which are trying to replicate the same thing as large traditional banks, for example, but doing it with newer technology, better user interface.
That’s definitely one of the types of innovation we see. But there are also other types of innovations. We also see other types of startups, which are not trying to replicate the same thing as the large incumbent. But which are trying to do very very different things. Just think of Facebook for example. Facebook is something that didn’t exist in the real world and Facebook is something that could only exist online. I think that’s what we’re seeing also in the Fintech world. Some companies that didn’t exist at all before and which are being created only for our world.
So that would be one where Fintech startups do the same thing but nicer, faster, cheaper.
The second one would be, Fintech startups that want to do things very differently create new services, new products that didn’t exist. The third type of innovation, I think, we would see is new services and new inference which are coming from different sectors. People which could be the Amazon could be the Alibaba which could be the Googles. Which are creating new services in finance just because it’s very very complementary to the existing business. And we’re likely to see more and more of this.
For example, the largest Fintech company in the world is Alibaba, which is an e-commerce company that entered into the space of finance. And, of course, let’s not forget the most important players in that space are still the traditional companies. The banks, the insurance companies, the asset mergers, and of course, we know that large companies will face challenges by trying to transform themselves because a 200,000 people company will transform itself much slower than a 10 people startup. But the very very large companies have a very important role to play in the space of innovation.
So, to finish off on the question of Nicola about timing, and, you know, when is the timing? I think that’s one of the most important things in you know, any kind of disruption. When does it happen? And if you look at finance, when I had my startup 15 even more than 15 years ago, at that time, people were already saying that banks would be dead.
At that time people were saying that telecom operators would be replacing banks and mobile payment would be the main way of paying. Which, if you live in the western world, hasn’t happened at all. It has happened, however, in some countries, like Kenya.
So, timing is quite key because what is the difference between 15 years ago and today? And if were to say, you know, what would be the right timing for Fintech? And when will we start to see the real disruptions? I think it’s now. And I think it’s now.
And that’s the reason why we launched the disruptive group last year. Over the last few years, we’ve seen humongous amount of activity and investment in Fintech. Five years ago, we had two billion dollar invested in Fintech. Last year we had 20 billion dollar invested in Fintech. That’s what I would call the first wave of Fintech.
That’s what we saw as the first investment into Fintech and a lot of things happened in that space. Now we are seeing the second wave of FinTech, the real investment is coming now and the real innovations. So if there was a timing for Fintech or innovation in finance, I would say, it’s definitely now. So that finishes for today.
Thanks a lot for following. Give us any kind of comments. It’s an experiment for us, so tell us what is interesting for you. And see you on Wednesday!!
[/fusion_text][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”rgba(224,222,222,0)” top_margin=”10px” bottom_margin=”5px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_recent_posts layout=”default” hover_type=”none” columns=”3″ number_posts=”3″ offset=”0″ pull_by=”category” cat_slug=”” exclude_cats=”” tag_slug=”” exclude_tags=”” thumbnail=”yes” title=”yes” meta=”no” meta_author=”no” meta_categories=”no” meta_date=”yes” meta_comments=”yes” meta_tags=”no” excerpt=”no” excerpt_length=”35″ strip_html=”yes” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

The post Around Fintech in 80 Days: EP2 – What is Fintech (PART 2) – CFTE Blog appeared first on CFTE.

Around Fintech in 80 Days: EP1 – What is Fintech? (Part 1) – CFTE Blog

cfteadmin — Wed, 14 Feb 2018 10:12:11 +0000

Around Fintech in 80 Days: EP1 – What is Fintech? (Part 1)

In the first episode of the series, Nicolas explains the thinking behind launching the series and begins to explain to the audience his definition of Fintech based on his reading on Huy’s Fintech and innovation focused blog, Disruptive Finance.
You can also view this episode on iTunes | YouTube

About Around Fintech in 80 Days

Transcript of video

What is Fintech?: Hi Facebook, this is Nicholas speaking from Paris, for the first day of ‘Around Fintech in 80 Days’.
Just a few words before entering our subject. It’s my first Facebook Live, so I’m sorry if it’s not perfect. But we’ll try our best. Today it will be a little bit longer because I will start with an introduction a little bit about ‘Around Fintech in 80 Days’, and then enter the theme of today.
So ‘Around Fintech in 80 Days’, is a mentoring process between Huy and me, that we decided to turn public. The idea is that I started working on the disruptive group’s specific business opportunities that we’re studying, and then I’ve wondered how I could enhance and understand really the global ecosystem of Fintech.
So I’ve asked Huy how can I learn, and how can he teach me a little bit of his knowledge. And he answered a little bit laughing, that I could start reading his more than 200 blogs on his blog. So I started to do that, and I was reading, taking some notes, and uplifting some comments, and questions for Huy, and there we were, he was sharing, I was learning, and at some point we thought that maybe this process could interest some people, to know more about Fintech, and to participate in this mentoring process. So we decided to turn it public. And two points here that are really important for us. The first one is that we’re doing this for you, so the utility is there if you see it, so don’t hesitate to give us your feedback, your comments, your critiques.
We’ll learn as it goes so, we’ll change the process, and we’re trying to build the process. The more suited for you and for us. And the second comment is that we’ll not turn you into Fintech experts, that’s not the point. The idea is to draw an overview of Fintech and to give you the opportunity to understand the different trends, and if you want to dig into one more specific than other, you’ll have the chance to do it with us or alone. The fact is, that ‘Around Fintech in 80 Days’ was meant for me to understand better the ecosystem. So in order to understand the specifics that I want to dig into for personal or professional purposes. So that was the little introduction, introduction, let’s dig into our first subject that is a definition of Fintech.
So what is Fintech? And I share my personal view, and maybe Huy will change it, comment it. For me, Fintech’s, are all the startups that are in financial services, advanced financial industry. That’s a wide definition. Technology is key, but it’s not, but all Fintech’s are not tech-driven companies, and for me, technology is more one of the cause, that enhance the emergence of fintech’s, are as the new habits of consumption, and sentiment of frustration, against the traditional financial system.
In fact, we can underline three common patterns around Fintech initiatives, and more widespread disruption, that are data, all the business models that are created today are around this data analysis, and how we can turn this analysis into revenue streams.
About simplicity, this is the second point. Simplicity because the consumer habits of today are really simple, and we need simplicity, so all the user experience are turned simple.
And the third point is, is the cost of launch that really plummeted, today you can launch a startup with a few dollars in your pocket. That’s for definition, and now the article that I read for today.
The title was ‘Can a Disruptor Grow Ten Times Faster Than an Incumbent?’ So this is not a definition of fintech as an entity, but it’s more a definition of the markets, and of the market where the fintechs are evolving. So the basic interrogation that we gave into this article was where does finance go, and when it would be disrupted.
So I want to highlight the typology that Huy gave in this article, of the different actors that we can see in an industry. So the first one is incumbents. Incumbents are the traditional actors of an industry. The second one is the new entrants. So, for example, is the Locust Airlines, the model is that, with thanks to technology, a simple offer, and the absence of legacy system, these companies can turn down the cost structure, and enter new markets, gaining significant market shares.
There is a different one that is disruptors. Disruptors invent new products, invent new business models, and turn the existing one as outdated or out-passed. This is the example of streaming in the music industry. The fourth actor is the outsider. This is an existing company that leverage existing assets, in order to enter smoothly a new market. We have the example of Alibaba entering finance, but they’re leveraging their customer base, and the trust they have with the customer, to enter smoothly the financial market.
So the conclusion of the article that I read for today, is that in less than ten years, some industry has been completely disrupted, but the financial incumbents still there and still untouched. So this highlights three basic conclusions for me.
The growth, the potential for growth of the different actors that I explained earlier. Most of all new entrants, outsiders and disruptors, and in less than ten years we can gain a significant market share with this potential.
The second conclusion is the potential of the financial industry. As we said, financial incumbents are still there, so there is huge potential for new entrants, disruptors and outsiders in this industry.
And the third one is the reaction. For me it’s quite interesting and exciting, to observe how the financial incumbents will react to this disruptive risk. Most of all because all the finance profession, is about managing risk. So these are my conclusions and comments, I have some questions for Huy, more about the definition of Fintech, and see if he has some differences, and to complement a little bit my definition.
So, about my definition, do you share my views?
Or for instance, for you does fintech embed disruptors, new entrants and outsiders, or it is only about disruptors?
And more widely, and this is a tricky question, maybe it’s not for today but, but the whole point of your article was to ask, when will finance be disrupted?
So if you have a date I’m all ears. Thank you for following, and I’ll see you on Wednesday. And I’ll let Huy answer this questions. Buh-bye!
[/fusion_text][fusion_recent_posts layout=”default” hover_type=”none” columns=”3″ number_posts=”3″ offset=”0″ pull_by=”category” cat_slug=”” exclude_cats=”” tag_slug=”” exclude_tags=”” thumbnail=”yes” title=”yes” meta=”no” meta_author=”no” meta_categories=”no” meta_date=”yes” meta_comments=”yes” meta_tags=”no” excerpt=”no” excerpt_length=”35″ strip_html=”yes” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

The post Around Fintech in 80 Days: EP1 – What is Fintech? (Part 1) – CFTE Blog appeared first on CFTE.

Mentor Archives - CFTE

Around Fintech in 80 Days: EP2 – What is Fintech (PART 2) – CFTE Blog

Around Fintech in 80 Days: EP2 – What is Fintech (PART 2)

About Around Fintech in 80 Days

Register to CFTE and start learning Finance 2.0

Transcript of Video

Around Fintech in 80 Days: EP1 – What is Fintech? (Part 1) – CFTE Blog

Around Fintech in 80 Days: EP1 – What is Fintech? (Part 1)

About Around Fintech in 80 Days

Register to CFTE and start learning Finance 2.0

Transcript of video