Techmeme Ride Home (Bonus) A16Z's Angela Strange On Why Every Company Will Be a Fintech Company
Feb 1, 2020
Angela Strange, a partner at Andreessen Horowitz with a sharp focus on fintech, dives into the future where every company becomes a fintech company. She discusses the youth's frustration with traditional banks and the burgeoning market among the unbanked. Strange highlights innovative strategies tech giants are using to enter financial services, emphasizing the 'X as a Service' model. She also points out the emerging opportunities for entrepreneurs to disrupt the landscape, leveraging technology to create inclusive financial solutions.
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Every Company a Fintech
- The fintech landscape is changing, enabling any company to offer financial services.
- This shift is driven by evolving technology and changing consumer behavior.
Drivers of Fintech Adoption
- Consumer dissatisfaction with traditional financial institutions fuels the fintech revolution.
- This, combined with the vast underserved population, creates high demand for alternative solutions.
Incumbent Bank Challenges
- Incumbent banks struggle to serve unprofitable customer segments due to high fixed costs.
- Their cost structure, including physical branches and extensive staff, prevents them from effectively serving everyone.