02

Jan

2016

New vs Old (Fintech Musings)

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Musings on what fintech companies (startups, incumbents, service providers) should focus on going forward – in no particular order:

– Customer experience instead of customer service

– Service instead of product

– Platform strategy instead of “silo” strategy

– Open standards & open source instead of proprietary

– Outside data instead of proprietary data

– Prospective instead of historical

– Partnerships instead of vendor management

– Interoperability instead of impracticality

– Modularity instead of all in one IT stacks

– New multi-disciplinary approaches (data science, machine learning, networks, AI) instead of old multi-disciplinary approaches (marketing, sales, IT, business development, accounting)

– Shorter product/service lifecycle run times instead of longer ones

– Meaning & convenience instead of convenience alone

– LTV to the customer/user instead of customer LTV

– Financial wellness (of customers, enterprises, markets) instead of financial profitability

– Dynamic pricing instead of cohort pricing

– Data as an asset instead of a liability

– Consensus instead of Fiat

– Decentralized instead of Centralized

What have I missed? What does not resonate with you?

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Pascal Bouvier
pgb2008@gmail.com

Life and work experiences have given Pascal an unmatched vantage point, seeing things as both venture capitalist and aspiring entrepreneur. He currently is a Venture Partner with Santander Innoventures – Santander Group’s Global Fintech fund.

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