Payments

o Paypal 10 years ago

o Revolut, Monzo credibility issues
Traditional Banking Services
o Customer ownership - offer tons of products to current
customers
o Services deaggregated
o Small startups provide these products better prices,
more convenient, easier to monitor
Financial Services
o MIFID 2 regulatory change in the UK by FCA,
investment research
o Technology: high quality analysis without big
investments

Key thing: REGULATORY main thing for fintech

Threat: Wealth management may be tottaly automated in the next

years

Crowd sourced investment decision

Either you dont need the platform or you dont need the wealth
manager