FinTech : Digital Innovation in the Financial Industry JANUARY 7, 2016 – 7:00PM Jean-Michel Pailhon
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FinTech : Digital Innovation in the Financial Industry
JA N UA RY 7 , 2 0 1 6 – 7 : 0 0 P M
Jean-Michel Pailhon
Forewords
2“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Today’s Agenda (1/2)
What you will learn:
What is FinTech
Why it works
Where it works
How it might impact you
3“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Today’s Agenda (2/2)
4“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
What you will not learn:
How to spot a promising FinTechproject
How to launch a (successful?)FinTech startup
That’s a different workshop!
What is FinTech?
5
FinTech History (1/2)
English term coined in 2004 (American Banker’s "The FinTech100 ranking“), then…
6“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech History (2/2)
… Popularized in 2013/14 by the first ‘successes’ (in termsof funding, exit or publicity) for FinTech startups (e.g.Transferwise and Lending Club)
7“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech Definition (1/2)
Contraction of ‘Financial’ + ‘Technology’
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FinTech Definition (2/2)
FinTech is a new value proposition applied to financial services:
new offering of financial products / services, and/or new processes, and/or new business models, and the intensive use of technology (SaaS, cloud, mobile, metadata, etc.)
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FinTech Scope
10“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Capital Markets
Forex
Payments and Money Transfer
Financing(crowdfunding
/ lending)
PersonalFinance
Wealth / AssetManagement
Cryptocurrencies
Data and Analytics
Security
Compliance
Real EstateInsurance
FinTech Sub-Sectors
(extract)
Who are FinTech Startups?
11
FinServ Co’s, ‘Old’ FinTech, ‘New’ FinTech
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Source: affentranger associates (aasa)
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Fintech: Not So « New » (1/2)
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The (19)80’s 1995-2000 2010-NOW
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Fintech: Not So « New » (2/2)
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The (19)80’s 1995-2000 2010-NOW
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Why Now?
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FinTech: Why NOW? (1/3)
16“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
17“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech: Why NOW? (2/3)
FinTech: Why NOW? (3/3)
18“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Why and How?
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FinTech: Why They’re Doing It Differently?
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FinTech: How They’re Doing It Differently?
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http://www.genbeta.com/actualidad/deben-los-bancos-temer-al-fintech
The Real Threat of FinTech: “Unbundling” The Bank (1/2)
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23“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
The Real Threat of FinTech: “Unbundling” The Bank (2/2)
"Unbundling" = the "process of breaking apart something into smaller parts"
FinTech: Real Potential?
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FinTech: A Recent Startup Ecosystem
25“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Growth in FinTech? Bubble or Real Growth Potential? (1/2)
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x7
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Growth in FinTech? Bubble or Real Growth Potential? (2/2)
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x27
x3000
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Funding Activity in FinTech Explodes!
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Largest Funding of FinTech Startups in 2015
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Source: PitchBook Platform
Notable FinTech Exits in 2014/15
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Source: PitchBook Platform
Another Proof of Concept? Follow the Smart ‘Guys’!
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Where: International landscape of FinTech startups
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FinTech Investment Jan. 2010 – June 2015 (World)
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French FinTech Landscape by Octo Technology
34“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Don’t ask what FinTech cando for you…
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Few Examples of FinTech Entrepreneurs (1/4)
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Source: Wikipédia
Few Examples of FinTech Entrepreneurs (2/4)
37“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Source: Wikipédia
Few Examples of FinTech Entrepreneurs (3/4)
38“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Source: LinkedIn
Few Examples of FinTech Entrepreneurs (4/4)
39“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Source: LinkedIn
Being a FinTech Entrepreneur Can Pay Off
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http://tech.co/fintech-entrepreneur-payoff-2015-12
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
vs.
Further Insights
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Further Reading
"La (French) FinTech Connection" (Jean-Michel Pailhon)
"Fintech strategic review" by Jean-Michel Pailhon (SlideShare)
FinTech : concurrents ou partenaires - OCTO Technology
"Le FinTech cannibalisent la banque" (Octo Technology)
Groupe « Fintechers France » sur Linkedin
La Banque, Reflet d'un Monde en Train de Naître (Octobre 2015, Athling)
http://www.francefintech.org/
https://www.cbinsights.com/blog/category/industry/fin-tech-industry/
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Fintech News Sites and Blogs (Sample)
43“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
C'est pas mon idée !
L'innovation dans les services financiers, par Patrice Bernard
Thanks for Your Attention! Questions?
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“It’s easy to ask a difficult question.”(Raymond Barre)
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Further Questions? Feel Free To Contact Me!
Jean-Michel Pailhon
+33 (0)7 82 13 07 05
linkedin.com/in/jeanmichelpailhon
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Formerly within the Euronext Group (2001-16), Jean-Michel PAILHON, 39, is an expert incapital markets infrastructure and issues related to corporate finance.
Jean-Michel started his career in 2001 as a credit analyst. He was then front-office manager inthe treasury and financing department, then M&A analyst in the corporate financedepartment of the group. In 2007, he joined the Listing department of NYSE Euronext as aproject manager and head of research where he assisted the EMEA Executive Director of theListing Department in the implementation of the group strategy. He took a major role in thebuild-up of the Life Sciences (biotech and medtech) franchise for the European listing business(80+ IPOs to date) and in the mission "Facilitating market access to financing for SMEs“ whosereport (presented to Ms. Christine Lagarde, then French Minister of Finance in 2009) wasinstrumental in creating EnterNext and led to France position on the EU Capital Markets (EU).
Jean-Michel graduated from Coventry University (Bachelor of Science) and MontpellierBusiness School (Master in Finance).
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
Appendix
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The 100 Largest FinTech Companies
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http://www.williammills.com/blog/2013-fintech-100-rankings-released/
1. FIS U.S.2. Tata Consultancy Services India3. Fiserv, Inc. U.S.4. NCR Corporation U.S.
5. Cognizant Technology Solutions U.S.
6. Diebold, Incorporated U.S.7. SunGard U.S.8. Infosys Limited India
9. Nomura Research Institute, Ltd. Japan
10. Wincor Nixdorf Germany11. Lender Processing Services U.S.12. CA Technologies U.S.13. First Data Corporation U.S.14. Total System Services, Inc. U.S.15. DST Systems U.S.16. CoreLogic U.S.17. SAS Institute U.S.
18. Jack Henry & Associates, Inc. U.S.
19. Equifax U.S.20. Genpact U.S.21. Misys UK22. Ingenico France
23. Broadridge Financial Solutions U.S.
24. ACI Worldwide, Inc. U.S.25. FICO U.S.
26. SS&C Technologies U.S.
27. Experian Group Limited U.S.
28. Syntel, Inc. U.S.
29. IPC Systems, Inc. U.S.
30. Temenos Group AG Switzerland
31. Fidessa Group PLC UK
32. Murex France
33. D+H Canada
34. Polaris Financial Technology India
35. Oberthur Card Systems France
36. Wolters Kluwer Financial U.S.
37. Digital Insight U.S.
38. Advent Software U.S.
39. Itautec S.A. Brazil
40. Moody’s Analytics U.S.
41. MphasiS (An HP Company) India
42. TransFirst Holdings, Inc. U.S.
43. OpenLink Financial LLC U.S.
44. Harland Financial Solutions U.S.
45. SimCorp A/S Denmark
46. CRIF Italy
47. L&T Infotech India
48. Pegasystems Inc. U.S.
49. Interactive Data Corporation U.S.
50. SIX Payment Services Switzerland
51. 3i Infotech India
52. Aegis Global Communications U.S.
53. Charles River Development U.S.
54. Calypso Technology U.S.
55. Fundtech U.S.
56. Computer Services, Inc. U.S.
57. Linedata Services S.A. France
58. Virtusa Corporation U.S.
59. GFT Group Germany
60. BancTec, Inc. U.S.
61. Collabera U.S.
62. Luxoft Holding Inc Switzerland
63. BRQ IT Services Brazil
64. Bottomline Technologies, Inc. U.S.
65. Simplex Consulting, Inc. Japan
66. Investment Technology Group, Inc. U.S.
67. NIIT Technologies Inc U.S.
68. Hundsun Technology Inc. Ltd. China
69. Eagle Investment Systems LLC U.S.
70. Bravura Solutions Limited Australia
71. NICE Actimize U.S.
72. VASCO Data Security U.S.
73. Carlisle & Gallagher Consulting U.S.
74. Silverlake Axis MSC Malaysia
75. Clear2Pay Belgium
76. ARGO Data Resource Corp U.S.
77. Scorto Corp U.S.
78. SmartStream UK
79. TransCentra, Inc. U.S.
80. Viewpointe U.S.
81. Celero Solutions Inc. Canada
82. GBST Holdings Limited Australia
83. Diasoft Russia
84. ISGN Corporation U.S.
85. Financial Technologies India
86. COCC U.S.
87. Eze Castle Integration U.S.
88. Aurionpro Solutions Limited India
89. BancVue Ltd U.S.
90. WAUSAU Financial Systems U.S.
91. TAS Group Italy
92. Multifonds Lux.
93. Primatics Financial U.S.
94. Indecomm Corporation U.S.
95. EFT Source, Inc. U.S.
96. Novantas, Inc U.S.
97. Scivantage U.S.
98. eFront Financial Solutions France
99. eMASON, Inc. U.S.
100. IND Group Germany
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech Startups Strategic Buyers
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Source: http://www.digitalgoggles.com/2013/04/06/fintech-strategic-buyer-landscape/
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
50 « pépites » françaises de la FinTech
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http://www.usine-digitale.fr/article/50-pepites-francaises-de-la-fintech.N368888
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech: What For?
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Top seven reasons for using FinTech
Source: EY FinTech Adoption Index
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech: Why Not?
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Top six reasons for NOT using FinTech
Source: EY FinTech Adoption Index
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech: How Often?
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Most used FinTech services
Source: EY FinTech Adoption Index
“FinTech : Digital Innovation in the Financial Industry” (07/01/2016) © Jean-Michel Pailhon ([email protected])
FinTech Scope
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“Nous vivons une ère de transformation majeure pour les services financiers. Nos petits enfantsregarderont avec amusement la façon dont nous utilisions les services bancaires au cours de lapremièremoitié de la décennie 2010.” (Bradley Leimer,Mechanics Bank, Californie, Avril 2014)
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http://www.startupbootcamp.org/accelerator/insurance-london.html
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