3 FinTech trends to watch in 2015

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The Brief
From casual peer-to-peer payment systems to financial literacy blogs, the financial tech space has been reinvented in recent years. What can we expect to see in fintech for 2015? Well, to start, a focus on people, and their desire for greater transparency, sharability and mobility. As legacy banks and up-and-coming disrupters solidify their strategies for the year, we believe these three trends will be the major catalyst for new fintech offerings.
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1. Money management goes social 

FinTech trends

fintech trends

Venmo

  • Peer-to-peer payment app recently acquired by PayPal that includes a running feed of your friends’ payments.
  • Predicted to reach $90 billion in payments by 2017 
  • Leadership: Iqram Magdon-Ismail, Co-Founder; Andrew Kortina, Co-Founder; Michael Vaughan, COO; James Turnbull, VP Engineering

LikeFolio

  • App that aims to help novice investors invest in stocks they already know and like by using their friends’ and their social media activity to recommend stocks. 
  • Leadership: Andy Swan, Co-founder; Brandon Powers, Tech Lead; and Michael Branch, Project Manager


2. The collaborative economy swells 

fintech trends

fintech trends

Rent the Runway:

  • Rent black tie dresses, accessories and more from this fast growing company
  • Revenue is projected to top $50 million in 2014
  • Leadership: Jennifer Hyman, CEO and Co-Founder; Jennifer Fleiss, Head of Business Development and Co-Founder; Beth Kaplan, President and COO; John Rucker, CFO

Airbnb

  • Digital community marketplace for people to rent out, discover and book accommodations around the world
  • Valued at $10 billion, rising to $13 billion with recent employee stock sale
  • Leadership: Brian Chesky, Co-founder; Nathan Blecharczyk, Co-founder; Joe Gebbia, Co-founder; Andrew Swain, Co-founder


3. Financial firms embrace digital (content)

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fintech trends

UBS

  • Wants to use artificial intelligence to deliver personalized advice to the bank’s wealthiest clients.
  • Leadership: Andrea Orcel, CEO; Nigel Bretton, CFO; Mary Kleckner, Executive Director; Todd Becker, Executive Director   

Goldman Sachs

  • Invested $15 million in Kensho Technologies with one immediate goal being to answer complex financial questions in plain English
  • Leadership: Lloyd Blankfein, CEO; Gary Cohn, President and COO; Harvey Mitchell Schwartz, EVP and CFO; Stephen Scherr, CSO



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