Blockchain is claimed to be the transparent system that will gain back Millennials’ trust in finance. Blockchain is the means to an end, gaining trust has everything to do with giving back control to the consumer. Do banks dare?
Spanish bank BBVA recently launched its Open Banking Business, which allows third parties to use and integrate BBVA’s financial data for their own purposes. The idea behind open banking is that cooperation is the only way to innovation, and it is one of the core beliefs of Millennials.
Part I - Fintech is about more than convenience
Part II - And why that’s essential for Millennials
This blog is a reaction on “Is insurance ready for Millennials”, which you can read over here. Summarized: insurance is old-fashioned, lives in the past and tries to pummel you silly with paperwork… especially when filing a claim. Luckily InsurTech is here to save the day.
The growing industry of Fintech is on its way to leave a lasting and substantial mark on the economy and society as we know it. From buying clothes and your Christmas’ gifts online to transferring money to that one friend you owe a beer to, consumers have been enjoying the benefits of Fintech on a daily basis, perhaps without even knowing it.