20 July 2021, 09:00 PM
Steve MillerFintec
I’m getting ads telling me to invest in Fintec or miss the boat.
What is it?
21 July 2021, 08:32 AM
AxtremusTech startup with new business model to attach fins to automobiles?
21 July 2021, 10:01 AM
DougRobotic fish?
Or, new technology developed to enhance banking functions of various types. The first big success, I believe, was PayPal.
21 July 2021, 10:10 AM
Steve MillerThanks!
Would cryptocurrency be considered Fintech? Quicken Loans? SoFi?
Is Fintech why Wells Fargo eliminated lines of credit?
21 July 2021, 10:28 AM
AxtremusCryptocurrency, yes.
Quicken Loans, probably no.
SoFi, I don't know what it is.
Other examples I consider (consumer facing) FinTech:
Robinhood (the trading platform + mobile app)
Chime (we talked about
this recently)
Venmo
Zelle
ApplePay, SamsungPay, etc.
21 July 2021, 10:29 AM
DougI don’t know that finTech is a scientifically defined term. SOFI is sort of the quintessential fintech company, purely a technology platform. Quicken loan is really just an old long time mortgage banker. Although it is somewhat related I would consider the whole cryptocurrency world an entirely separate Market.
21 July 2021, 12:47 PM
Steve MillerThanks!
How do you expect Fintec to affect traditional banks?
21 July 2021, 07:08 PM
Steve MillerIs Insurtech the same thing?
22 July 2021, 12:25 AM
Steve MillerFrom WaPo. May be paywalled.
Cash transfer companiesI used to use PayPal but they became evil, including attaching themselves to my bank account without permission. Switched to Venmo and when PayPal bought them they became suspect as well.
Now I use Zelle, and I like the fact I access it through my bank’s website. OTOH my bank still hasn’t credited me for when they cleared a forged and voided check so there is that.
Fintech surely can’t be any worse.
Right?
