Next Avenue: Unicorns and robots, oh my! Future advances in fintech may radically change how we invest, save and spend.

by | Oct 24, 2022 | Stock Market

This article is reprinted by permission from NextAvenue.org. In many ways, 2022 marks the 10th anniversary of the fintech phenomenon. While companies such as E*Trade, Rocket Mortgage and TurboTax all began to disrupt the established financial services market well before 2012, that year was when fintech emerged as a sustained movement markedly changing how most consumers manage their money.

A bulge of startups founded soon after the 2008 financial crisis started to go live, venture capitalists began investing en masse and the media and established industry became aware of the fintech phenomenon. LearnVest, a financial planning company, was one of those startups. “I started LearnVest in 2008, when the Great Recession made me realize how urgently we needed better financial tools and technology,” said Alexa von Tobel, the company’s founder and a founder and managing partner of the investment firm Inspired Capital. “It took a few years for the startups founded in the wake of the financial crises to really take off and for the broader industry to start to take notice,” she added. “It’s amazing to think about how far fintech has come.” Also see: Are flying Ubers the future of public transportation?Unicorns and robots Indeed, a decade on, fintech has evolved from a snappy label for plucky startups to a phenomenon embraced by large publicly traded companies. Fintech has grown to include over 100 fintech “unicorns” (relatively young companies estimated to be worth $1 billion or more) around the world that offer online platforms with a full range of financial products. In retrosp …

Article Attribution | Read More at Article Source

Share This