On the Heels of Raising $500M in New Funds, Team8 Establishes a Roadmap for Fintech in 2030 and Beyond
April 17 2024 - 9:31AM
Business Wire
“The report imagines a future in which
incumbents can move just as quickly as early-stage startups,
digital identities nearly wipe out fraud, and consumers no longer
need to rely on large centralized institutions to custody their
assets,” says Team8 Managing Partner, Rakefet Russak-Aminoach
“2030 and Beyond: An Unconventional Look at the
Future of Fintech” provides actionable insights into the fintech
ecosystem around what will remain the same and what is likely to
change
Team8, a leading global fund that builds and invests in
companies playing a crucial role in the digital transformation of
major sectors, released a new report on the future of fintech,
titled “2030 and Beyond: An Unconventional Look at the Future of
Fintech.”
Prompted by the rise of genAI and other emerging technologies
and trends, the report creates a roadmap for the future of fintech
asking three main questions: What Won’t Change? What (Likely) Will
Change? And What Could Change Everything?
The report was created by Team8’s fintech leadership team
composed of experienced founders and executives at companies such
as Mastercard, Bank Leumi, eToro, PayPal, and JPMorgan. In addition
to outlining the 2030 vision of these industry leaders, the report
features exclusive commentary and case studies from Team8 portfolio
companies such as april, 40Seas, Ballerine and, Wisor, as well as
key insights from other market leaders including Airwallex, Atomic,
Cross River, NEXT Insurance, Orum, Panax and Unit.
Some of the key takeaways from their analysis
include:
- Fintech’s Advantage in the GenAI
Era: The speed and agility advantage of fintechs over incumbent
financial services companies depends in part on incumbents' clunky
legacy technology, leading to incredibly long product roadmaps.
Developments in GenAI could allow incumbents to drastically speed
up development on legacy infrastructure, leading to faster
innovation and negating much of this advantage. - Embedded
Finance Transforming Traditional Industries: Embedded finance
has begun to transform traditional companies in certain industries
into fintech companies, and this trend is likely to expand further
into additional industries like brick-and-mortar, government, and
non-profits. - New Venture Capital Paradigm Shifting Startup
Priorities: With a slowdown in venture capital deployment,
lower valuations, and higher interest rates, startups have
refocused efforts into profitability, leading to new opportunities
for fintechs to help finance teams streamline their cash flow
management.
Speaking on the value of this collaborative research, Team8
Managing Partner Rakefet Russak-Aminoach said “In addition to
taking a broad survey of the existing fintech landscape and
near-term trends, the report imagines a future in which incumbents
can move just as quickly as early-stage startups, digital
identities nearly wipe out fraud, and consumers no longer need to
rely on large centralized institutions to custody their assets. We
believe this report will both ground and inspire the fintech
community to think outside the box, as well as provide valuable
insights to founders who are embarking on their entrepreneurial
journey.”
To learn more about Team8 or to download a copy of the report,
please visit https://team8.vc/rethink/fintech/2030-and-beyond/
About Team8 Team8 is a global Venture-Creation and
Venture Capital Fund that creates and invests in companies focusing
on Cybersecurity, Data & AI, Fintech, and Digital Health.
Team8’s signature Venture-Creation model is designed to identify
meaningful problems, create theses on potential solutions, and
build and invest in innovative companies that tackle these
challenges.
Team8 leverages an in-house multi-disciplinary team of more than
80 company-builders, together with a dedicated community of global
C-level executives and thought leaders. Team8 partners with
world-class founders and works with them to increase the
probability of success via a disciplined, repeatable process from
inception through product-market fit, growth, and beyond. Team8’s
unique platform brings together specialized expertise across
technology, go-to-market, HR, and strategy.
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version on businesswire.com: https://www.businesswire.com/news/home/20240417780652/en/
Media Contact Ilan Fisher Global
Media Manager ilan.f@team8.vc +972-50-460-7429