The Future of Finance

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 30 July 2015

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Heath Terry and Ryan Nash, analysts in Global Investment Research at Goldman Sachs, explore how the twin forces of regulation and technology are opening the door for a new and expanding class of competitors aiming to shake up financial services. This episode was recorded on June 3, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2015 Goldman Sachs. All rights reserved.

Transcript

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0:14.6	This is exchanges to Goldman Sachs where people from our firm share their insights on developments, currently shaping markets, industries, and the global economy.
0:18.3	I'm Jake Seawert, Global Head of Corporate Communications here at the firm. We've been hearing a lot lately about
0:24.0	new trends in the financial space, peer-to-peer lending, Bitcoin, crowdfunding, mobile payments.
0:30.5	To discuss what's driving these changes today, we're joined by Heath, Terry, and Ryan Nash,
0:35.5	both from Goldman Sachs Global Investment Research Division.
0:38.8	Heath and Ryan are to the authors of The Future of Finance, a three-part series exploring how regulation, innovative
0:46.0	technology, and changing consumer habits are transforming the financial industry.
0:51.2	The Future of Finance is among the most read reports produced by our
0:55.0	research team this year and one of the most talked about. Heath Ryan, welcome to the program.
1:00.8	Thanks.
1:01.8	So Heath, why don't we start with you?
1:04.0	What's happening here?
1:05.0	What are some of the developments bringing all of these new products and entrance into the financial
1:08.1	space?
1:09.1	You know, the thing that's driving is really the intersection of three events that happened. First you had the
1:15.4	financial crisis in 2008 and the regulatory response to it that effectively
1:20.5	created a greenfield opportunity
1:22.7	for a lot of new entrants in the recovery.
1:25.7	Second, following Facebook's IPO back in 2012,
1:31.0	a lot of venture capitalists sort of looked across the entire landscape of internet and said what sectors don't have a
1:37.6	Facebook a Google and amazon yet and
1:41.6	Financial Services was the biggest one of those and so you saw a lot of
	...

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