Few sectors within finance can look back at the 2008 financial crisis as a positive time, but many of the prominent trends in the fintech landscape owe their conception to that disastrous environment.
With banks less willing to lend and increasingly curtailed by regulation, new methods such as peer-to-peer and crowdfunding emerged to help businesses access capital through non-traditional means.
But the crash also spurred a wave of distrust among ordinary consumers towards traditional banks and financial institutions – and the fintech sector is beginning to see the fruits of this souring public opinion with the emergence of the wealthtech industry.
These range from platforms giving ordinary consumers access to investment and wealth management tools previously only available to a select few, to fully-mobile challenger banks built with ease of use and transparency in mind.
Investment is pumping into the space too, with Germany’s N26 raising $40m recently, Monzo planning to raise as much as $26m and Atom Bank looking to follow up the $82m it raised from BBVA last year with a $100m-plus haul.
Discussing how personal banking will develop and where exceptional returns can be generated, Eden Ventures general partner Ben Tompkins is the latest speaker to join the FinTech Investor Forum.
Joining the firm a decade ago, Ben sits on the board of Borro, a lending startup that allows users to receive loans against luxury items, as well as other tech businesses Huddle, Reevoo and Green Man Gaming.
He joined Eden Ventures after 18 years of corporate finance experience in Europe and the US, most recently as Managing Director at Broadview International (now Jefferies) where he was responsible for building the global digital media practice.
Ben worked with a number of high profile technology and digital media companies on M&A and fund raisings.
Ben is speaking as part of WealthTech Investor Perspective panel at the FinTech Investor Forum, taking place in London on November 24th.
He will be joined at the event by investors from other leading firm including Balderton, Blackfin and Northzone.