Data at your fingertips, literally
That’s two large concepts, which may have even larger implications. Consider the vast amount of data stored on your handheld device, from your health information, your exercise habits, routines and other private, but very telling information about your life. That information can be used for various things, but consider applications where that could benefit yourself, for example in acquiring services tailored to you or financial products (insurance, loans for example) that represent better service given the specific data you can supply the service provider with.
Augmented reality - bringing the banker into your home
We often talk about the complete disintermediation of the branch experience in banking or financial services. However, not everyone is comfortable transacting fully online. What if it was possible to pick up your handheld and walk into the proverbial branch, only on your terms and in the comfort of your home.
Augmented reality offers the chance to re-arrange services in the value chain and offer them in a novel way to the end user. This means wealth management services in the comfort of your Saturday breakfast table, perusing investment real estate opportunities walking down Market street, scheduling viewings of properties and walking through construction all while never leaving the front door. And of course walking into your literal vault, to view your holdings, assets, income analysis visualized all around you.
The fundamental questioning of existing structures
Can fintech tackle some of the fundamental inefficiencies of the economy, by displacing them and offering viable alternatives with a rigorous and purposeful agenda? The father of the lean startup methodology, Eric Ries has set out to do that with his new initiative called the Long Term Stock Exchange (LTSE) (link to: http://qz.com/704657/eric-ries-ltse-long-term-stock-exchange/) that would incentivize long term value creation through a new framework for what we’ve accepted as the Exchange.
These discussions are all based on real data and applications being worked on today. Given the amount of talent and dedication working on these applications, the implications will surely be vast, diverse and long term. We see concepts of big data, augmented reality and the malleable value chains as a set of ongoing discussions that we’re fortunate to be part of, as they are literally shaping how financial services will look tomorrow.
Internationally awarded digital finance entrepreneur, active in pioneering new securities models worldwide. Has worked in digital finance since 2009, recruited over 100 individuals, built up a operations on six continents and been recognized as one of the top 100 thought leaders in crowdfunding. Markus has pioneered new funding models in the US and Europe, advised policy makers worldwide - including the SEC, the European Commission and Italian regulator CONSOB - for more effective markets, and worked with visionary organizations such as the World Bank and the Kauffman Foundation to improve frameworks for digital finance. Markus has studied computer science and economics (M.Sc).