From Mobile Wallets to Blockchain: How Fintech is Growing Up

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 5 April 2018

⏱️ 23 minutes

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Summary

The fintech sector has been evolving rapidly as new startups emerge and large financial institutions figure out how to adapt...or else get left behind. To understand where we are in the "three waves of fintech," we spoke with Jeff Gido, global head of the financial technology sector in Goldman Sachs' Investment Banking Division. "We're seeing much more two-way dialogue [between financial services incumbents and startups]. We're seeing much more cooperation, much more partnerships. And we're actually seeing a lot of investment by traditional financial services into these fintech startups." This podcast was recorded on March 8, 2018. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed. The recording should not be relied upon to evaluate any potential transaction. Goldman Sachs is not giving investment advice by means of this recording, and this recording does not establish a client relationship with Goldman Sachs. Copyright 2018 Goldman Sachs & Co. LLC. All rights reserved.

Transcript

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0:15.6	This is Exchanges at Goldman Sachs where we discuss developments currently shaping markets, industries, and the global economy. I'm Jake Stewart, Global Head of Corporate Communications here at the firm.
0:18.8	The FinTech sector has been evolving at a rapid pace as new startups emerge and large
0:24.1	financial institutions figure out how to adapt or else get left behind. To
0:28.5	understand today's key FinTech trends and what we can expect from next generation FinTech business models,
0:34.7	we're joined by Jeff Gido, global head of the financial technology sector in the firm's
0:39.0	investment banking division.
0:40.8	Jeff, welcome to the program. Thanks, Jake.
0:43.0	So let's start just a big picture or a question.
0:46.2	What are your investment banking clients focused on in the FinTech space right now?
0:50.2	What's everyone talking about?
0:51.2	We're going on at least the six or seventh year here in this FinTech cycle that we've been going through
0:56.7	coming out of the great financial recession and we're starting to see a couple of different
1:01.7	trends emerge. That's really taking up the majority of our dialogue with our investment banking clients.
1:06.5	First I would say there's a maturation overall of where we are late stage cycle and that has led to real emerging companies
1:14.7	no longer being startups anymore. They're actual real companies with real
1:18.8	scale and scale not just coming from the number of active users they have or the eyeballs they're
1:24.4	making real money, they're making profits, they're going public, so I think there is a class of
1:29.1	companies separating themselves from the pack.
1:31.8	Second, I think the traditional FinTech
1:33.8	incumbents are starting to try to get more tech. So they're investing more in
1:37.7	software, they're talking more about APIs, they realize that's the world's
1:41.4	going and they've been kind of shown the light by a lot of these
	...

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