NeoBanks: How It Started, How It's Going
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Presentation Description
Fintech has grown wildly beyond what we could have imagined 15 years ago, and the ecosystem is now littered with behemoth tech companies. But for all that noise, fintech hasn’t really even made a dent in most parts of financial services. In fact, so little impact that you could reasonably ask, "will it ever?" But if you look close enough at the canary in the coal mine segments, fintech penetration is happening, is accelerating, and is inevitable across the whole industry. There are trillions of dollars of market cap to go get, and you could argue we’re at risk of under investing in the sector. Zach will also dive into what areas of fintech are especially ripe for innovation and have the most opportunity to disrupt traditional finance.
Zach Noorani Biography
Zach joined Foundation in 2014. He’s interested in all things fintech, more specifically helping drive fundamental product innovation in financial services markets across the globe. Zach has spent most of his career in this pursuit, here are some of his stops along the way:
All told, Zach spent eight years at Capital One. He made many tiny contributions to their credit card, auto finance, and retail banking business lines. Zach helped the company acquire $20B in retail bank market cap across two acquisitions (Hibernia and North Fork) and nearly acquired Netspend Financial. He led the almost-launch of a network of Capital One Loan Stores but the mortgage crisis had other ideas. Back when fintech used to be called “financial services-enabled technology,” Zach was an investor at North Hill Ventures, a subsidiary of Capital One. Some of their investments included the operator of Zelle (Early Warning), a paycard issuer (FSV Payment Systems, acquired by US Bank), a digital gift card processor (Cashstar, acquired by Blackhawk), and a reverse mortgage originator. They also passed on Credit Karma’s Series A. He once tried to escape fintech by writing a monstrous report about the On-Demand Economy. He wasn’t successful.
Beyond that, Zach has a BS in Economics from Stanford University and an MBA from the MIT Sloan School of Management. He’s currently trying to get good at tennis again and enjoys over-analyzing television.
All told, Zach spent eight years at Capital One. He made many tiny contributions to their credit card, auto finance, and retail banking business lines. Zach helped the company acquire $20B in retail bank market cap across two acquisitions (Hibernia and North Fork) and nearly acquired Netspend Financial. He led the almost-launch of a network of Capital One Loan Stores but the mortgage crisis had other ideas. Back when fintech used to be called “financial services-enabled technology,” Zach was an investor at North Hill Ventures, a subsidiary of Capital One. Some of their investments included the operator of Zelle (Early Warning), a paycard issuer (FSV Payment Systems, acquired by US Bank), a digital gift card processor (Cashstar, acquired by Blackhawk), and a reverse mortgage originator. They also passed on Credit Karma’s Series A. He once tried to escape fintech by writing a monstrous report about the On-Demand Economy. He wasn’t successful.
Beyond that, Zach has a BS in Economics from Stanford University and an MBA from the MIT Sloan School of Management. He’s currently trying to get good at tennis again and enjoys over-analyzing television.