42 min
Pushing Boundaries: The Future of FinTech | Finance & AI with Greg Palmer Slaves to the Algo
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- Business
In this week's episode, Suresh talked all-things-FinTech with Greg Palmer: columnist, podcaster, and Vice President of the Finovate Group. In the first half of what turned out to be a fascinating overview of some of the latest trends and innovations in the FinTech industry, Greg spoke about how prioritizing customer preferences has been front and center of almost every new FinTech venture that he has seen. In addition to that, he believes that one of the key points where FinTechs are starting to diverge from more traditional financial services companies is social responsibility: they are addressing challenges in the financial system from both a business standpoint and a social standpoint.
In the latter half of the discussion, Greg dove deeper into a few specific trends that we see in today's FinTech landscape. He touched on how peer-to-peer payment providers need to differentiate themselves to gain "functional loyalty" from consumers, the high cost of storing data, the need for credit-scoring to undergo a massive transformation, and the use of AI to measure ESG standards. Last but not least, Greg predicts that AI will underpin nearly every organization's process - FinTech or not - over the next few years.
In this week's episode, Suresh talked all-things-FinTech with Greg Palmer: columnist, podcaster, and Vice President of the Finovate Group. In the first half of what turned out to be a fascinating overview of some of the latest trends and innovations in the FinTech industry, Greg spoke about how prioritizing customer preferences has been front and center of almost every new FinTech venture that he has seen. In addition to that, he believes that one of the key points where FinTechs are starting to diverge from more traditional financial services companies is social responsibility: they are addressing challenges in the financial system from both a business standpoint and a social standpoint.
In the latter half of the discussion, Greg dove deeper into a few specific trends that we see in today's FinTech landscape. He touched on how peer-to-peer payment providers need to differentiate themselves to gain "functional loyalty" from consumers, the high cost of storing data, the need for credit-scoring to undergo a massive transformation, and the use of AI to measure ESG standards. Last but not least, Greg predicts that AI will underpin nearly every organization's process - FinTech or not - over the next few years.
42 min