A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.

1. Next Gen FinTech
Digital Transformation’s Impact On Financial Industry

2. Understand FinTech Today
Financial Tech (FinTech) has been steadily gaining interest over the last
five years. In 2015, Financial investment drastically increased. Particularly,
a $4 billion dollar investment in Alibaba’s Ant Financial has pushed its
valuation to $60 billion dollars*.
In 2015, there were 100 companies that VCs actively monitored and
funded. Of those, 19 were labeled unicorns. Unicorns include Venmo,
Square, and Lending Club. However, most of them are in Payments or
Lending. Other areas have been lagging investment and innovation.

3. Four Industry Trends
No. 1: Electrons are becoming our currency. We are moving
into a cashless society.
Today, we do not have to go to banks to deposit checks; we
can just take pictures with an app. The regulation of digital
currency like Bitcoin through companies like Elliptic and
Colu is will drive B2B and B2C adoption.

4. Four Industry Trends
No. 2: Decentralization will allow customers to have more
control and access to their financial resources that only
institutions previously had.
For example, Credit Karma provides customers with
transparency and understanding. Kreditech provides
understandable data that will allow customers to conduct more
self-serviced wealth management.

5. Four Industry Trends
No.3: Mobile, cross-platform connectivity (IoT) fueled by
consumer needs will reach a tipping point.
Mobile devices and lower costs of on-demand computing
resources drive drastic innovation as we see with a company
such as Number26.

6. Four Industry Trends
No. 4: Data has matured to that point that we can now leverage it via
advanced algorithms to better understand consumer behavior and
beyond.
This allows the development of new customizable, but utilitarian
products and services that help consumers live better lives.
Companies like Affirm and Kabbage focus on the consumer; xero
and prospa serve small businesses.

7. How We Innovate in FinTech Tomorrow

8. To transform the financial industry, financial professionals
and technologists need to switch roles.
Both need to familiarize themselves with the financial
industry through opposite lenses. Do not think that a
top-level understanding of technology or finance alone
will make a company or individual successful.
Financial institutions are very powerful, as are
technology companies. Collaborative programs and
partners will lead to joint innovation.

9. As a financial professional, do not be afraid of computers or programming.
A great example is tastytrade. The founders are financial gurus and
professional traders (master minds behind ThinkorSwim) who possess a
passion for technology and built an online video platform to explain global
trends in the market.
These tools do not teach customers how to understand money and
investment, but they teach you how to explain controlling risks and
maximizing profit technological advancements to your clients.
Walk in the Shoes of a Technologist

10. Walk in the Shoes of a Technologist

11. If you are a technologist, participate in finance-related technology projects. Join
FinTech hackathons to model information and run new scenarios to create new
products from the data you have access too.
At Beyondsoft, we are doing a number of projects for banks, hedge funds and
lending clubs. Most recently, we have conducted real-time fraud detecting for a
major bank. Fraud costs financial institutions and companies billions of dollars
per year.
By leveraging information across the web plus real-time data from social media
(Hadoop + social), one of our online platform’s algorithms was able to
automatically differentiate and classify fraudulent transactions from normal
transactions, thus reducing security risks and operational costs.
Walk in the Shoes of a Financial Professional

12. Beyondsoft Day
Microsoft Main Campus
Bldg 35/2615 - Kalaloch
Date & Time - May 20, 2016 @ 12:00 – 2:00 p.m