21 January 2016
Fintech and the Fear of Froth
Contemplating the future of financial technology in Institutional Investor, Jeffrey Kulter asks the industry leaders to reconstruct the definition of fintech, "since everyone wants a piece of it" but "the concept is vague and undifferentiated." Alexei Miller of DataArt offers his insight.
"Alexei Miller, a managing partner at technology development and consulting firm DataArt, deconstructs fintech three ways: general advancements like high-performance computing and mobility that make an impact on finance; entrepreneurs in Silicon Valley and elsewhere who set out to disrupt specific aspects of the business; and innovation led by established players. He says the last category is often overlooked but is yielding benefits increasingly through collaboration, as in Depository Trust & Clearing Corp.’s customer-data-aggregation affiliate, Clarient, and Goldman Sachs Group’s trading technology spin-off, REDI Holdings"