Hi, everyone. Welcome to the A6 and Z podcast. I'm Sonal, and today Michael and I are taping another special episode of the A6 and Z podcast on the road from London. And so we are bringing this to you live from London. And today's topic is Fintech or financial services and meets technology. And joining us on the podcast today are Alex Rempell, who is our newest

GP general partner, who among many other things, will be focusing on fintech. And we also have

Eileen Burbage, who is a partner at Passion Capital and Early Stage Seed Fund. That's one of the

most prominent early stage seed funds in

London. And she's also the chair of Tech City. And very interestingly, the government special

envoy for FinTech. Welcome, Eileen and Alex. Thank you. Thank you. Let's just start talking about

why FinTech, why now? Let's just jump right in. And in fact, is FinTech like a new thing? Is that like a real phrase that's been around?

I mean, is that like a new phrase or it's been around for a while? Like, what's going on with

that? We were just joking about this, that it seems like a contrived term. Because if you were

to ask any of the existing incumbent companies, what they do, They would not say fintech. They would say we loan money.

We're a bank. Or we do finance. We do microfinance. They have very, very well-defined terms,

but anybody who's trying to compete with them, that's a fintech company.

It's almost like a diss, right? It's like the newer companies are thinking, oh, we're going to

introduce technology into your sector, thereby implying that they never used technology to do it.

So it's almost a bit of a...

I think it's like Amazon, Walmart.

Amazon's an e-commerce company.

Exactly.

Exactly.

And Walmart's retail.

Right.

Exactly.

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