fintech startups: dawn of a new bank by ashish gianani and sam buxton - plurimi
TRANSCRIPT
Plurimi Wealth Solutions Ltd, 92 Irish Town, Gibraltar
Photograph of Europa Point Lighthouse (“La Farola”), Gibraltar, built between 1834-1841
FinTech Startups: Dawn of a New Bank
Gibraltar Startup Community
Background
Investment in fintech companies is growing faster in the U.K. than it is anywhere else in the world. Last year, London’s fintech startups attracted £343 million. On its own, the city accounts for 53 per cent of total European investment in Fintech (Accenture)
Big Banks Plead with Customers Not to Move Their Money
Loyal customers asked to leave Bank after being told they're TOO POOR: Some have been with the same bank for 60 years but booted out because they don't earn £75,000
Most Bank Customers Would Trade Personal Banking for Digital Banking
Gallup recently asked more than 6,000 banking customers47% of customers would give up their digital relationship
53% would give up their personal banking relationshipApril 27, 2015
March 31, 2015
Where is the Uber of banking?
Bank of England Governor Mark Carney worries that technology will disrupt the banking and financial services industry
Fintech drives record hike in London startup VC funding 06 July 15 by Liat Clark
Simple.com / The Mondo app
Your financial data can tell a story“Current Balance” doesn't tell the whole story Safe-to-Spend® Goals
Funding Circle
Revolut
Landscape
Data
ServicesInvestments
Equity/Debt
A portal to better banking
Think Banking, Think Plurimi.
CONTACT US
PLURIMI WEALTH SOLUTIONS
92 Irish Town,Irish House, Second Floor, Gibraltar GX11 1AA
Tel : +350 200 42343Fax : +350 200 76614
PLURIMI WEALTH LLP
11 Waterloo Place, St. James’s / PiccadillyLondon SW1Y 4AU
Tel : +44 20 74843340Fax : +44 20 74843369
www.plurimi.com
This presentation is private and confidential and is intended for the exclusive use of the person or persons for which it was provided to by a member of Plurimi. Any other recipients of this document should disregard its contents and should not rely on it. The information contained in this service proposal is given without any liability whatsoever to Plurimi Wealth Solutions Limited, Plurimi Wealth LLP, Plurimi Investment Managers LLP or any other member of the Plurimi Group or any of its related entities or their respective members or officers, and is not intended to constitute legal, tax or accounting advice or opinion. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or thoroughness of the content of the information. The recipient should consult with their own legal, tax or accounting advisers as to the accuracy and application of the information contained herein and should conduct its own due diligence and other enquiries in relation to such information. The information in this presentation has not been independently verified by Plurimi.
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Plurimi Wealth Solutions Limited (“PWS”) is regulated by the Gibraltar Financial Services Commission (“FSC”) under license number FSC1259B.
Additional Resources
Level39One Canada Square, Canary Wharf, London, United Kingdom E14 5AB (Open 24 hours)Hotdesk membership £325/Month + VAT or ClubLounge39 [email protected] or call 0203 668 3700
http://www.ey.com/GL/en/Industries/Financial-Services/ey-fintech-adoption-indexhttp://www.bloomberg.com/news/articles/2015-08-18/mondo-s-ceo-wants-to-build-a-bank-for-people-who-hate-banks https://www.gov.uk/government/news/personal-current-accounts-and-small-business-banking-not-working-well-for-customershttp://www.ft.com/cms/s/0/a08ca532-f4ac-11e4-9a58-00144feab7de.html#axzz3jHJFjVpohttp://www.huffingtonpost.com/2013/05/22/simple-bank_n_3314373.htmlhttp://www.thisismoney.co.uk/money/saving/article-2947996/Barclays-facing-mass-exodus-loyal-customers-leave-told-POOR.html#ixzz3jRMBosafhttp://www.gallup.com/opinion/gallup/182813/bank-customers-trade-personal-banking-digital-banking.aspxhttp://www.mckinsey.com/insights/business_technology/the_rise_of_the_digital_bankhttps://www.mindmeister.com/488176466/fintech-landscape
Credits and Additional Resources
London & CoThe London Co-Investment Fund is founded and managed by Funding London and Capital Enterprise. It has raised £25m from the Mayor of London’s Growing Places Fund to co-invest in seed rounds between £250,000- £1,000,000.http://lcif.co/
FinTech Startups: Dawn of a New Bank
Gibraltar Startup Community
Q&A
UK Landscape
E&Y estimate the Fintech market (as defined in the scope agreed with UKTI) to be worth c. £20bn in annual revenue and growing.
Traditional Fintech Emergent Fintech82%
18%‘Facilitators’ (larger incumbent technology firms supporting the financial services sector)
‘Disruptors’ (small, innovative firms disintermediating incumbent financial services firms with new technology)
Fintech categories:
Payments (c. £10bn)Software (c. £4.2bn) Data and Analytics (c. £3.8bn)Platforms (c. £2.0bn)
The highest growth areas are peer-to-peer platforms, online payments and the data and analytics products (credit reference, capital markets and insurance) which together represent c. 60% of the sector.
FinTech Adoption at a Glance
Future use of FinTech
FinTech use in major urban areas
Most used FinTech services
Top Reasons for Adoption
Top Reasons for Non Adoption
Availability of capital
Ecommerce and Mobile/Internet Use
Increasing propensity to switch
Additional Resources
http://www.ey.com/GL/en/Industries/Financial-Services/ey-fintech-adoption-indexhttp://www.ey.com/Publication/vwLUAssets/Landscaping_UK_Fintech/$FILE/EY-Landscaping-UK-Fintech.pdfhttps://www.gov.uk/government/uploads/system/uploads/attachment_data/file/341336/Landscaping_UK_Fintech.pdf
Credits and Additional Resources