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The WEALTHTECH Book
book

The WEALTHTECH Book

by Susanne Chishti, Thomas Puschmann
July 2018
Beginner
336 pages
11h 58m
English
Wiley
Content preview from The WEALTHTECH Book

The Investment Managers of the Future are Going to be Millennials

By Jerry Floros

Founder and CEO, MoneyDrome Ltd

“FinTech” has taken the financial industry by storm. It has revolutionized many financial services and products that used to be the exclusive domain of banks and brokerages. The latter have slipped in market share and reputation due to legacy banking and outdated technical infrastructures. And the innovation train has left the station.

New financial technologies like bitcoin (cryptocurrency) and blockchain (distributed ledger) will take some time to reach mainstream adoption. However, common bank transactions such as payments, borrowing, lending foreign exchange transfers and wealth management are already building up momentum and the FCA (UK Financial Conduct Authority) is doing its fair share to make these new financial technologies available to the general public as soon as possible.

For some, FinTech might be bewildering with many new terms, concepts and financial products – such as bitcoin, blockchain, neobank, robo-advisory and Ethereum. The potential for losing market share to start-ups is just one of the reasons why big banks are pouring money into their own technology, as well as start-up ventures.

“Digital disruption has the potential to shrink the role and relevance of today’s banks, and simultaneously help them create better, faster, cheaper services that make them an even more essential part of everyday life for institutions and individuals” wrote Julian ...

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Publisher Resources

ISBN: 9781119362159Purchase book