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Alessandro Cripsta

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The New Purpose of Companies

Living things, black markets

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The illusion of privacy

Beyond the fintech hype

Deep-pocketed investors are pouring money into fintech companies, but which are for real and which will fade? Quartz's latest field guide surveys ten unicorns to explain what's changing in financial services, and what's just driven by fear of missing out. ✦

Beyond the fintech hype

Is there a fintech bubble? Our guide uncovered a distinct fear of missing out among investors—venture capital funds are shoveling cash into money losing startups, and even more money into the few that are profitable.

A few themes emerge from the haze of hype: many of the most valuable fintech startups

Is there a fintech bubble? Our guide uncovered a distinct fear of missing out among investors—venture capital funds are shoveling cash into money losing startups, and even more money into the few that are profitable.

A few themes emerge from the haze of hype: many of the most valuable fintech startups are in emerging markets, as investors hope to make bundle by extending financial services to people who have traditionally lacked them.

Another theme is that many of these companies have unremarkable business models. Among them are banks, brokers, and payment companies. They seem more like finance companies that tech companies. If that's right, they should be valued accordingly.

This paragraph stands out: "Perhaps the most surprising thing about the most highly valued fintechs is how ordinary some of them are. They usually rely on software that’s hosted in the cloud, and their apps have whizzy interfaces. Otherwise, many of them act a lot like regular financial companies. They

This paragraph stands out: "Perhaps the most surprising thing about the most highly valued fintechs is how ordinary some of them are. They usually rely on software that’s hosted in the cloud, and their apps have whizzy interfaces. Otherwise, many of them act a lot like regular financial companies. They process payments, take deposits, make loans, and, in one case, provide brokerage for stock and options trading."

The only thing that matters is how secure these companies are and what risk management policies and controls are in place. How it is done is immaterial. Just my opinion but the biggest value the fintech sector provides is spotlighting the potential of new technologies. The best will be bought by real

The only thing that matters is how secure these companies are and what risk management policies and controls are in place. How it is done is immaterial. Just my opinion but the biggest value the fintech sector provides is spotlighting the potential of new technologies. The best will be bought by real banks. As an aside my banks already provide all the services I need on a global basis. Additionally my accounts are insured and regulated.

Arguably a fintech could provide services in underbanked markets but then they become banks and should be treated as such.

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