Fintech Is Growing & Here's Why | SALT Talks #54

TL;DR

Fintech entrepreneurs Michael Wise and Gil Mandelzus discuss the future of the financial industry, including the impact of technology, accessibility to alternative investments, and the role of regulation.

Transcript

hello everyone welcome back to salt talks my name is john darcy i'm the managing director of salt which is a global thought leadership forum at the intersection of finance technology and public policy and this is a landmark salt talk today i'm broadcasting live for the first time in 2020 from sky bridge hq here in manhattan contrary to popular beli... Read More

Key Insights

• 🖐️ Technology plays a critical role in shaping the future of the financial industry.
• 🪡 Collaboration and innovation are needed to improve access to wealth creation opportunities and make financial markets more robust.
• ✳️ Regulatory bodies have been proactive in understanding the risks and benefits of fintech.

Questions & Answers

Q: How have financial regulatory bodies kept up with the growth of fintech?

Mandelzus acknowledges that regulators have been proactive and thoughtful in response to fintech developments. While more education and awareness is needed, regulators have not stifled innovation but have focused on creating a safe and robust financial system.

Q: Is there a private capital bubble, and how does it impact the financial industry?

Wise points out that there has been a significant amount of money available in the system, leading to compressed yields in various asset classes. However, there are still opportunities, especially in technically dislocated markets, and the current environment favors non-bank lenders.

Q: What is the future of the wealth management industry in the face of fintech disruption?

Wise believes that the future lies in creating an inclusive and efficient consumer journey. Technology will enable consumers to access a wide range of investment options in one place. While job roles may change, Mandelzus emphasizes that banks will continue to play a significant role but will transform into technology-driven platforms.

Summary & Key Takeaways

• Michael Wise and Gil Mandelzus are fintech entrepreneurs who are shaping the future of the financial industry. Wise is the founder of Yield Street, which democratizes access to alternative investments, while Mandelzus is the founder of Capitolis, a software platform optimizing capital markets.

• They discuss the role of technology in the financial industry, the importance of improving access to wealth creation opportunities, and the need for innovation and collaboration to make financial markets more robust.

• Wise highlights the mission of Yield Street to help millions of people achieve financial independence through access to institutional-grade alternative investments. Mandelzus emphasizes the need for collaboration between banks and asset managers to optimize financial resource allocation.