This has been a huge year for fintech. If you follow Finovate, the Finovate company’s alumni have raised $19bn in venture capital or investment this year. Some estimates are putting it as quadrupling from 2014, which was about $21bn, so we could have raised as much as $80bn for the fintech last year. Are we at the top of the bubble?, a few people are saying. We are, but this week, over $700m was deployed in fintech, and this is near Christmas. It’s not cooling down that much. There’s still some room to go, so keep watching fintech in 2016. The story is definitely not over. If you’re in the banking space and you’re hoping that this bubble is going to burst, and fintech won’t be a threat to the big banks, then think again. I don’t think we’ll quadruple again, but if we don’t do $100bn in 2016, I’d be disappointed.
On the latest Breaking Banks, Michael Casey, our ‘chief blockchain correspondent’, joins us to talk about what’s hot at the moment, including what the structure of ‘the blockchain’ will look like, and the challenges of sorting out the hype from the reality. He shares the news of singer-songwriter Imogen Heap’s use of blockchain technology to release songs, pushing for a ‘fair trade industry’ where artist payments are concerned.
We welcome special guest Kenneth Lin of Credit Karma to the show. Ken talks to me about how the business started, the machinations of the credit score system, and what it feels like to be a ‘unicorn’!
Finally, bestselling author David Bach talks about the family influence of his grandmother Rose and how her story relates to his book Smart Women Finish Rich, and explains the concept of ‘the latte factor’.
– This podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. You can find the original post here. Image: Patrik Nygren CC0