Next Bank + BBVA Open Talent

We're hosting the 2015 BBVA Open Talent Finals in New York & Barcelona - come along!

FINTECH FINALS 2016

Startups exhibit free and compete for big pries at the largest fintech startup event in Asia. Plus some of the worlds best thought leaders will be on stage and in break out session. January 2016, Hong Kong

Run the Next Bank chapter in your city

Open a Next Bank chapter in your city, run events, meetups, competitions, workshops and training for your industry peers, and connect globally with your fellow Next Bankers.

Transforming Finance

through design, innovation & entrepreneurship

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Next Bank is an independent, open and collaborative community driving change for the better in financial services through design, innovation and entrepreneurship.

We’re creating a global community through conferences, competitions & city chapters. 

Join the Next Bank Community

You’ll be connected with the world’s best thought leaders, and be a part of the most inspiring finance events on the planet.

WHY are we here?

We want to see banking change for the better, for every person on the planet

HOW do we do it?

We see design, innovation & entrepreneurship as forces of change

WHAT do we create?

We build conferences, communities, content, research, consulting and coaching

Run the Next Bank chapter in your city

Open a Next Bank chapter in your city, run events, meetups, competitions, workshops and training for your industry peers, and connect globally with your fellow Next Bankers.

What we think

Petervan’s Delicacies – Week 24 August 2015

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Week-34 of Delicacies: Max 5 articles that i found interesting and worth re-reading. Handpicked, no robots. Minimalism in curation. Enjoy! About open vs distributed web: http://buytaert.net/digital-distributors-vs-open-web-who-will-win About the illusions of virtual reality: http://www.economist.com/news/science-and-technology/21662481-virtual-reality-flopped-1990s-time-its-differentapparently-grand About the detailed homework to prepare success: http://timkastelle.org/blog/2015/08/never-delegate-understanding/ About motivation: http://schoolofherring.com/2015/08/23/one-day-it-will-come-true/ About sensemaking: http://weblog.tetradian.com/2015/08/29/seven-sins-sensemaking-and-ooda/ If you can’t get enough of these and […]

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Another 50th Party..

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My wife and I had the pleasure of another 50th birthday party this week.  Capping a FULL week of business entertaining.  So, suffice it to say, I am slightly worse for wear today.

That allows me to “borrow” some great thoughts from others this week.  Whilst still sounding the alarm, hence the “dead horse” analogy, that we should all buckle up.

First, FinTech is wrapping up.

Folks in the industry were talking about the Blackrock-FutureAvisor deal at length.  50x is a big premium, however, Blackrock doesn’t strike me as a cavalier firm wrt valuation.  Cash + earnout seems more likely.  Winterberg does an apt analysis here in his weekly video:

For the investment bankers out there, I found this presentation by Steve’s team terrific.  They banked the deal for Blackrock.  Again, they know valuation (click here for the deck).

Second, the great unwind may be beginning.

What has me occupied this weekend?  CHINA.

Why?  They own a lot of our debt.

These two pieces on them and Saudi Arabia were fascinating synopsis’ that encapsulated the talk of many prop desks this week.

If China is selling, the US yield curve is TOAST

Here is the link to the Saudi article about their cash reserves.

Here is the link to China’s sale of US Treasuries.

 

Third, Trump.

From here, it looks like the US is prime for a demagogue.  Sadly, he fits the bill.  While I appreciate the mathematical reality that he will, and should, ultimately fade away…he is highlighting a side of America that is shameful.

Finally, speaking of 50th birthdays, how was it here in Singapore?  Let me share that on my next post.

In the interim, enjoy the weekend!

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The Robo-Advisor End Game

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First off, congrats to the team at FutureAdvisor. Blackrock Solutions will be a good home with a capital base to support their growth.

Their deal, in light of the Yodlee deal, now provide us all with the roadmap for the remaining robo-advisors. It basically boils down to the following:

  • Go for IPO? If so, need to raise much more $$ to support the cash burn and/or B2C advertising. Dilution to founders will be drastic; OR
  • Do they try to find a remaining strategic buyer for the technology? Not many left and buyers will be valuation sensitive; OR
  • Do they re-position and become digital “fintech dev-shops”?

Given the landscape, there is a big push now for more VC funding. But the remainder of the year looks quite crowded. One or two of the larger robos should be able to raise funds.

Strategic buyers just got smarter about valuation for the robo space, so I garner we’ll see more “terms not disclosed”.  Watch all robo-advisors not in the top-3 with regards to AUM.

The smaller robos will become dev-shops selling…forgive me…solutions (a-la-Blackrock).

One thing will be fascinating to watch:
What do the strategic investors do?  

What does the Blackrock deal mean for Personal Capital?  What will Citi do with Betterment?  My guess is that they will follow the route of Learnvest.

Finally, I know the folks at FutureAdvisor and wish them well. Personally, I was actually looking forward to some exciting robo-advisor SuperBowl ads in 2016!

Maybe next time.

For more information about our firm’s research and analysis in FinTech, please click here

 

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"Nobody is changing the conversation like Next Bank. They bring in valuable perspectives from within the industry and unique viewpoints from far beyond."

− JP Nicols, Bank Innovators Council

"Next Bank is where the future of finance is discussed, debated and defined."

− Aman Narain

"More than just an innovation showcase or trade show, Next Bank brings together the brightest minds in and out of the industry to share ideas and provide a vision for next gen banking."

− Jim Marous, The Financial Brand

"Next Bank is a great community of thought leaders, startups, industry players and subject experts that are keen to bring productive change to the financial industry."

− Markus Grnick, Startup Bootcamp Fintech

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