Fintech 2016: Top 100 Influencers and Brands

Fintech is an economic industry composed of companies that use technology to make financial services more efficient. Fintech companies are generally startups trying to disintermediate incumbent financial systems and challenge traditional corporations that are less reliant on software.

Fintech funding in 2015 hit $19.1bn (up from $10bn in 2014), and the sector will exceed last year’s total by 36 percent if companies continue to raise money at the same rate as in the first quarter of 2016, according to a report from KPMG International and CB Insights.

WHAT ARE THE INFLUENCERS SAYING?

We reached out to some of the top influencers on our list to ask them for their views on fintech. We spoke to Spiros Margaris (#1), Jim Marous (#5), Oscar A Jofre (#7), Sebastien Meunier (#9) and David Brear (#10). Be sure to follow them to stay up to date on the best content and resources on Fintech!

 Spiros Margaris – Founder of Margaris Advisory

“I strongly believe that the future of the financial technology (fintech) industry is as promising as ever, regardless of Britain’s decision to exit the European Union (Brexit) or any other stock market corrections to come. That does not mean that many start-ups will not disappear, be bought or merge with other companies along the way, but the fintech industry is here to stay. Besides, there will always be new entrepreneurs developing innovative start-ups that will change the financial industry for the better and positively disrupt the status quo. Of course, the Brexit situation will have serious consequences for many entrepreneurs but it also will help strong fintech start-ups in the United Kingdom and around the world to refocus and adjust to new situations. The saying “what doesn’t kill you makes you stronger” applies very much to the start-ups in this industry. The future of fintech is still unknown, thrilling and potentially wonderful. The industry offers possibilities we cannot currently imagine. We are living in very exciting times, when almost anything is possible if we work hard enough.”

Jim Marous – Owner of the Digital Banking Report and Co-Publisher of The Financial Brand

“While the partnership between Fintech and legacy banking organizations was the most mentioned trend in our ‘2016 Retail Banking Trends and Predictions’ report, I believe the most important component of digital banking transformation is to simplify and personalize the customer journey, removing friction and utilizing data to contextualize the banking experience. The consumer is no longer satisfied with firms that make buying or using a service difficult. The consumer wants their financial institution to be integrated into their daily lives and be easy to access, providing real-time advice that illustrates that their bank knows them, is looking out for them, and will reward them. The digital consumer is becoming impatient with financial organizations who know less about their goals and behavior than their online retailer. As legacy financial institutions decide between purchasing or partnering with fintech start-ups, developing digital capabilities internally or creating a platform for others to build digital banking solutions, it is time to move from hype to action.”

Oscar A Jofre – Founder of KoreConX

“Alternative Finance, and equity crowdfunding in particular has had an interesting year within the Fintech sector.  The excitement of the launch of Title III crowdfunding in the US was swiftly followed by the need for corrections.  Reports showed huge market growth globally, especially in Asia, and while the UK has led the way internationally, Brexit puts that in jeopardy.  But I think that alternative finance is borderless.  I think markets are global, and for better or worse, what happens in one affects another.  It’s a strike against isolationism, and a move towards a more integrated, egalitarian global economic future.”

Sebastien Meunier – Management Consultant at Chappuis Halder & Co.

“Delivering successful Fintech innovation in large Financial Institutions is less about Business or Technology expertise and more about Culture and Mindset. Besides, the innovation impulsion should come from the top management.”

David Brear – Co-Founder and CEO of 11:FS

“FinTech and Banking are at the precipice of signifiant and serious change. For decades, through limited competition and competitor direction, banks have had the ability to do nothing but this is no longer the case. New technology breaking through, whether that be AI, Chat Bots, Blockchain or new ways to develop core banking engines, are all having significant and serious movements in what the art of the possible is for banking. This coupled with new regulations, governmental pressure and a swathe of new FinTech companies taking advantage of these changes, means that banks need to act today to exist tomorrow.”

TOPIC ANALYSIS