What is your least favourite Fintech buzzword?

We are all Millennials.

To avoid some misunderstanding, I believe that we should not focus on age but on needs and if that happens to be a millennial who has the same need as I have so be it.

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Robot ! Most robot on the market do performance, risk, volatility and strategy drift - this is what any bank is doing then :wink:

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Totally agree, speaking as a digitally savvy baby boomer. Have met millennials who struggle with their email. But if you design a service for a digitally savvy person it does not matter, all age groups will find you.


Fintech in the first place! I still can not believe that such a stupid word was created by the best marketeers in the world, the americans. We habe been having tech in financial sector for 40 years. The new move is far beyond, also should be the word describing it, and yes thenRobo.


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@marclussy you touched on a sensitive subject IMHO when you chose FINTECH as your least favorite.
Chris Skinner, says that it should be TECHFIN!
I know @SpirosMargaris has a strong opinion on this too.

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It doesn’t apply exclusively to FinTech but my least favorite buzzword in the wealth management space has to be “Smart Beta”. It is a term that sounds as if it was created so as not to offend passive/index investors but at the same time wants to say it is better. Isn’t just that plain active management?

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Not sure. To me it means beta asset allocation like passive index tracking, but switching based on market signals not just on lifestage.

Democratization of Financial Services. The coming decade the way people bank will change significantly towards a more fair market! It is obvious that in each country financial institutions operate more like being in an oligopoly market than in a competitive one.

Sums it up well IMO. Too long for most. That is why Fintech became the default.

Great post, @amy.radin We just completed an extensive marketing study on the tastes and preferences of ‘millennials’ and one of the main conclusions was as simple as it was predictable: ‘millennials’ don’t exist (at least in the sense the term is used in FinTech today). This huge and diverse group of people has little in common to justify piling them all in the same bucket.

In particular, we saw 4 distinct segments of consumers based on their emotions (which lead to their financial preferences) - and these 4 segments are present in all age brackets.
So, whenever somebody says: “we target millennials” it seems like people don’t really know what they are doing. But ‘we target millennials’ is much easier to explain than ‘we target Uncertain Traditional type of consumer’, so I expect the term ‘millennials’ will remain in FinTech for now.

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Welcome @GeneK; Bienvenue and thanks for sharing the results of your survey.

Great buzzword pick @bernard ; @SpirosMargaris correctly - instinctively knew that it isnt about age.
For me, this again shows that categorizing people by age or even investment style or risk tolerance, is wrong. Everybody is HYBRID and DYNAMIC.
So, customers are partly passive, partly “value investing” beleivers, partly “opportunistic and active”; and whatever each person’s mix is, it also changes. It may change with age or income or other parameters; but it most definetely changes with amrket conditions. This actaully circles in to the discussion that @andrefassler opened on “whether any financial institution is monitoring their customer’s risk profile”; because it is NOT static.

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RegTech because the idea is you can magically smooth away stupid regulations that should not be there in the first place. Would much prefer that we solved identity and immutability as the root causes rather than throwing regulation at the problem.

Regarding the “abuse” of the term AI, read
Watson’s view on “What counts as AI” http://raconteur.net/business/firms-must-embrace-ai-or-risk-being-left-behind?utm_content=buffer5949c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

First it was RegTech, InsurTech, and now I hear a lot of WealthTech. All these derivations of FinTech worry me - there is so much crossplay and overlap, it is difficult to treat these as compartmentalised segments.

I also prefer to use Data or Customer Data instead of Big Data - in most use cases we see in fintech today, all Data will become Big Data in the next few years…

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FinTech itself. Just as Efi has previously stated, it is a verb and a process. It is not a noun. In the market in which we operate saying you are involved in FinTech has become a fashion item. We are business people who early on recognised that there was an inefficiency in the market place and could solve this through aggregating technology. Just so happens that I have been working in finance for 30 years and it is our teams knowledge base.



“Actionable” analytics

and “velocity, veracity, variety, volume”


It is overused in any tech/startup context but is a particularly poor buzzword in the financial sector. Stability and continuity of economic value and trust are core requirements of a the financial system. You really, really, don’t want your bank or your medium of exchange to be “disrupted” :slight_smile:

Change is inevitable (and is already happening) but disruption is not the right word to evangelize it…

Going to get shot for this: “Thought Leader Consultants” , soooo many work off retrospective data with one exception (no relationships) McKinsey.

Mine is fintech. The suggestion that this is something new and hot is absurd. The financial services industry has been a significant producer and consumer of software and technology since its very early days. In many ways, the Rialto Bridge in Venice was the original fintech hub. Most “financial-engineering” concepts we take for granted today were invented there over 500 years ago. Any globally active financial services firm probably employs more “technologists” and “developers” and spends more on “technology” in a given year than 99% of technology companies.

Today I read here (Chris Skinner) that:
The “Sexy words” in FinTech for tomorrow will belong to IoT, O2O, big data and chat-bots.

O2O? = Online to Offline!
Looks like chemistry.