Will the banking industry be Uberized? Geoffroy de Schrevel March 19 th 2015 The Future of Finance
Aug 06, 2015
Will the banking industry be Uberized?Geoffroy de Schrevel
March 19th 2015
T h e F u t u r e o f F i n a n c e
What has Uber (or AirBnB) done?T h e s u c c e s s f u l d i s r u p t o r s
Gambit Financial Solutions - 2015
N o t a n e w p r o d u c t … J u s t f i l l e d a g a p
A c t o r o f h i s / h e r o w n l i f e S e n s e o f c o m m u n i t y i n e v e r y d a y l i f e
Five (dying?) myths about banks
MYTH 1
People care about their banks
MYTH 2
People care about their bank
account
MYTH 3
People have lost trust in their
banks
MYTH 4
Banks have spent so much money on their brands
that the barriers to new entrants
are too high
MYTH 5
Digital is a nice opportunity for
banks to improve their efficiency
and the quality of their services
Gambit Financial Solutions - 2015
Five (well alive!) myths about Investors
Gambit Financial Solutions - 2015
MYTH 1
Investors are cash addicts
MYTH 3
Investors have all the same definition of risk
MYTH 4
Investors only want a single
recommendation.
Investors want to have choices
MYTH 2
At the end of the day, only returns matter
MYTH 5
Finance is complex and therefore expensive
Alternative FinanceW h a t t h e 2 0 1 4 f i g u r e s t e l l
Investors are interestedby the real impact of theirinvestments…
…and increasingly readyto go outside the traditional financialindustry channels
Gambit Financial Solutions - 2015
Golden Circle: Who will be able to inspire?
WHY
HOW
WHATSimon Sinek
Gambit Financial Solutions - 2015
After payments, after lending… an “Uber” example in Savings
T h e M a s s A f f l u e n t m a r k e t i s p o o r l y c o v e r e d
Expected Return
Simplicity
Accessibility/Transparence
Availability
Savings Account
Funds
Private Banking
The missingproduct
Gambit Financial Solutions - 2015
Inspirational…
F o r e v e r y t h i n g w e d o , w e b e l i e v e i n m a k i n g e v e r y o n e ’ s m o n e y a b e t t e rs u p p o r t f o r w h a t c o m e s n e x t
WHY
HOW
WHAT
T h e w a y w e d o t h i s i s b y m a k i n g o u rp r o d u c t v e r y e f f i c i e n t , e a s y t o u n d e r s t a n d a n d t r a n s p a r e n t
A n e w i n v e s t m e n t p r o d u c t t h a t i s a s s i m p l e a s a s a v i n g s a c c o u n t a n d a s p e r f o r m a n t a s a p r i v a t e b a n k i n g s e r v i c e
Gambit Financial Solutions - 2015
Gambit Financial Solutions - 2015
Low-cost savings solutions to everyone with a disposable amount as low as 1.000 € that
Maximizes the fit with personal profile and objectives AND
Gives a real influence on the societal usage of their savings
What the Promise should be
Some interesting features
Simple100% online subscription
No financial jargon
No arbitrage to execute
EfficientGambit optimization algorithm
Regular rebalancing
Gambit technology for potential crisis detection
AvailableInvestment as available
as a savings account
AccessibleMin investment only 1.000 €
Integrated risk profile and personal goals
Low feesFree for smaller investments
Only management fee <1%
Inexpensive underlying
TransparentNo retrocessions
No hidden costs
Clear reporting
Gambit Financial Solutions - 2015
The Uberization Has Started
Wealthfront (US)Founded in 2012
Betterment (US)Founded in 2010
AUM (Q3 2014)
1,5 Mrd $
Capital (Q2 2014)
99 Mio $
Capital (Q2 2014)
32 Mio $
AUM (Q3 2014)
875 Mio $
UK UK France Germany Germany
Gambit Financial Solutions - 2015
The Uberization Has Started
A favorable time-to-market
01Gap in the investment products offering for the Mass Affluent market
Competitive Context 02
Probable end of retrocessions for funds
MiFID, MiFID II
Regulatory Context 03
Low performance of saving accounts and euro investment funds
Economic Context
Gambit Financial Solutions - 2015