Navigating the Fintech Landscape
+WealthTech (Part 03)
By Jaideep Tibrewala
Head of Product - Glide Invest
2022 Mar | v01

Disclaimer
This presentation is meant for private circulation only.
All the content is taken from material that has been made available to
me through various sources, both online as well as personal network.
All sources are referenced at the bottom of each slide.
Storyline and summaries are mine.
The rest are represented as-is in most cases.

BigTech are
Transforming Fintech

The Rise of BigTech companies in Fintech:
Facebook, Apple, Google and Amazon
● Big tech companies are taking on the role of fintech vendors through partnerships
● In big tech’s race to become the go-to app for banking, shopping, and connecting,
legacy banks face the threat of being further pushed out of the financial system
Source: The Big Tech in Fintech Report, CB Insights, 2021

4 Key Drivers of BigTech Investments in Fintech
Source: The Big Tech in Fintech Report, CB Insights, 2021

Without the need to become Banks, BigTech is
unbundling traditional banking and payments services
• Aims to consolidate its
payments strategy across
different apps, and
announces a new team for
Facebook Financials +
Whatsapp payments in India
• Recommits to building an e-
commerce empire and
launches shops across FB
and IG
• Scales back and rebrands its
cryptocurrency initiative
• Bundling services across
entertainment, news and
payments. Launches AIO
subscription service – Apple
One
• Acquires technology that
enables phone-to-phone
transactions (POS)
• Launched Apple Card
business with Goldman Sacs
and extends to Apple Family
Card
• Revamps its Google Pay app
and adds digital banking
offering – now includes
payments, personal finance,
deals and banking services
• Steps into the remittance
market through partnerships
with Wise and Western
Union; 36% of UPI payments
in India (as of Feb 2021)
• Wants to conquer online
shopping next – Partnership
with Shopify; Shopping
Graph + Shopping from
Screenshot
• Building a bank for itself by
offering range of banking
services for merchants and
customers
• Adds business lending to
attract more SMBs to its
marketplace + partnership
with Marcus by Goldman
Sacs for digital line of credit
• Enhances payments and
ecommerce in India –
partners hip with Kuvera for
Personal Finance
Source: The Big Tech in Fintech Report, CB Insights, 2021

Amazon is determined to make Amazon Pay the
go-to payments system in India
US Based Companies
India Based Companies
Investments
Acquisitions
Source: The Big Tech in Fintech Report, CB Insights, 2021

Impact of Pandemic
on Wealth Mgmt Space

Uncertain times have made clients question what they
value and how they change during times of distress
● HNWIs lean to self-directed investments during good times and return to
advice-seeking behavior and strategic asset allocation amid crisis and volatility.
● Clients are becoming more risk averse, are increasingly focused on achieving
personal goals aligned to their purpose, and want to enhance their financial
protection, diversification and security.
● For wealth managers, whether they be robo or physical, complementing a
strategic focus on service and engagement with a clear emphasis on purpose
holds the key to elevating client experiences and demonstrating the long-term
value of wealth management.
Source: Global Wealth Research Report, E&Y, 2021

As a result of Covid-19, investors plan to adopt more
digital and virtual tools provided by their Managers
Top Features that clients would
be willing to pay their wealth
manager more for
Source: Global Wealth Research Report, E&Y, 2021
Clients indicate the
relationship with their wealth
manager has become less
personal, in terms of the level
of personal interaction

78% of Millennials plan to use more digital tools &
81% think technology has made investing efficient
Gen Z can be only expected to use even more technology for wealth mgmt
Source: Global Wealth Research Report, E&Y, 2021

(1) A Global Wealth Research Survey brings forth
selection criteria for wealth managers for HNIs
Source: Global Wealth Research Report, E&Y, 2021

(2) Financial goals that clients will now discuss,
manage and delegate to their wealth managers
Source: Global Wealth Research Report, E&Y, 2021
Sharp decline in
focus on taxes
Increased demand
for certainty (wealth
protection)

(3) Types of personal data that clients are willing to
share with their primary wealth managers
Source: Global Wealth Research Report, E&Y, 2021

(4) Key activities that clients, who prefer to use
hybrid engagement models, wish to use
Source: Global Wealth Research Report, E&Y, 2021

HNWIs now make complex wealth management
demands as they have more options to choose from
Source: World Wealth Report 2021. CapGemini, 2021

NeoBanks
for the New Generation

India has seen a massive growth in the volume of
UPI payments across platforms

WealthTech startups are rebundling the consumer
bank of the future
Source: Fintech Report Q4 2019, CB Insights, 2020

The Rise of NeoBanks: BaaS will enable any company
to launch financial products
● Digital banking is the rage among consumers for
○ Speed, Control, and Being touch-less
● BaaS platforms specialize in taking one layer of the financial services stack
and making it easier than ever for their enterprise clients to quickly outsource
or launch a new offering. Their services can range from shipping a new
depository account, credit card, or even leveling up your fraud prevention or
know-your-customer (KYC) capabilities.
● BaaS is hugely popular with investors as it can enable any company to launch
financial products.

In the US, Fintech players add savings accounts to
further automate financial services
Source: Fintech Report Q3 2019, CB Insights, 2020
• Wealthfront has a similar cash deposit account as Betterment
• Affirm announces savings accounts and will operate like a traditional bank
• SoFi is building a full-scale banking platform for its 500,000+ members

India sees a wave of challenger banks tackling
customer pain points and capitalizing on UPI adoption
Source: Fintech Report Q4 2019, CB Insights, 2019

Investing for Children is creating a new distribution
channel for NeoBanks
Family Money by Verizon
• In the US, Apply Pay extended to
family accounts - parents can share
Apple Card with their children and set
spending limits to teach safe and
smart financial habits.
• Trend has picked up in India too, with
players like FamPay, Juno, Obvy,
Rapyd and Union Pay coming in.

TAMPs
for Wealth As A Service

TAMP (Turnkey Asset Management Providers):
Providing wealth management services as a service
● Platformization will allow investment management firms and advisors to
unbundle their core competency or service offering ranging from ideation and
research to distribution and execution, and offer them to customers
seamlessly and cost-effectively.
● The limitations imposed by monolithic institutions no longer constrain a
customer looking for a specific product or advisory. Instead, customers can
access platforms that allow them to choose the investment product that
meets their particular requirements.

Companies that are creating APIs and software for
wealth managers are gaining traction
Source: Fintech Report Q4 2020, CB Insights, 2021
In a crowded marketplace, B2B FinTechs offered more stable and secure RoI
compared with high-risk B2C startups during economic uncertainty

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Jaideep Tibrewala
jtibrewala
“Don't look for the needle in
the haystack. Just buy the
haystack!”
John Bogle
Founder of Vanguard