The 2019 FinTech Effect for Banking and Commerce

Since 2014, Mastercard has scoured every corner of the globe to find the world’s best startups. Finding them, however, is only one piece of the puzzle, and our startupstart path keychain engagement program, Start Path, is much more than a reconnaissance mission.

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Nearly 200 companies have participated in the program, and we’ve connected with nearly 10,000 of the world’s smartest startup founders to build the future of commerce together. Our experience, combined with the lens that CB Insights provides as a data partner, gives us a unique insight into what’s happening in the FinTech and startup landscape.

Here are three FinTech trends to keep an eye on during 2019:

  1. Banks are having their AI moment.

AI startups were a hotspot for FinTech funding during 2018, with investments nearly doubling previous levels. While there is much hype about AI, the utility is beginning to match the excitement. As banks successfully implement AI, for example, we are beginning to see the industry shift from reactive to proactive (or even predictive) risk identification. Take credit risk – AI is taking a flat, rules-based model and, using big data, turning it into more customizable insights.

  1. Open Banking opens the market up to global FinTech.

Changes in Europe during 2018, such as requirements for banks to pen APIs to customer data, will begin to materialize fully during 2019, and consumers are set to be the biggest beneficiaries. Such changes will create choice, competition and establish consistency. New entrants are entering the market to take advantage of the change in regulation and deliver new solutions for consumers.

  1. SMBs are the next battleground for FinTech.

Small and medium-sized businesses remain underserved by FinTechs. Typically, FinTechs have focused on the consumer or only addressed loans and financing for SMBs. The ecosystem is quickly pivoting due to the fact that SMBs crave the same on-demand, frictionless and low-cost services that digital-first banks can provide at scale.

As an exciting 2019 gets underway, so too does the latest wave of Mastercard Start Path companies entering the program. We’re excited to be working with these seven startups, all of which are at the forefront of changing banking, finance and commerce.

  • Cnote creates competitive financial products with positive social impact.
  • Hummingbird is an AI platform for managing anti-money laundering operations.
  • Minka is an Open Banking API platform built on the concept of money as information about debts (IOUs) and cryptography.
  • Nexsis is a technology company that has developed a smart panel using solar power capable of producing clean drinking water from any source, usable electricity and hot sanitation water.
  • Tourego has a first-in-the-world solution to deliver a fully mobile tourist refund experience.
  • Tranzer makes it possible to travel by train, tram, bus or taxi via an app on your smartphone and across different carriers.
  • ZenCity is an AI-based citizen feedback analytics platform for cities, which makes citizen feedback a useful, decision-powering data source for local governments.
Puntuación
Posición en Iberoamérica
1
Juan Esteban Saldarriaga
Vice President at Alianza FinTech Iberoamerica | Co-Founder Rapicredit | ColombiaFinTech.co
24.4
5
2
Edwin Zácipa
Executive Director at Colombia FinTech | Managing Partner MiBank.co | Founding Member FinTech IberoAmérica
20.4
17
3
Diego Molano
Consultor internacional en temas de TIC e innovación
19.4
18
4
David Velez
Founder and CEO at Nubank
17.0
27
5
Martin Schrimpff
Co-Founder of Zinobe | Founder of PayU | Founder Pagosonline.net
15.6
32
6
Ángel Sierra
Director Ejecutivo en Asociación FinTech e InsurTech de Chile | Member of Alianza FinTech Iberoamerica
14.8
39
7
Paula Cardenas
Business Manager at AEFI | Founder Member FinTech IberoAmérica
14.5
42
8
Clementina Giraldo
FinTech & AgTech in Latin America
11.8
60
9
Juan Francisco Schultze-Kraft
Board Member – Vicepresident at Colombia FinTech | PayU Legal
11.4
63
10
Daniel Rojas
CEO & Co-Founder at Rocket.la
10.1
69
11
Alan Colmenares
Digital Transformation Enablement – Latam at Microsoft
7.3
89
12
Laura Gaviria Halaby
Global Head FinTech Acceleration at Citi | Chief Acceleration Officer at TheVentureCity
6.3
101
13
Diego Alejandro Guzman Guevara
CEO and Co Founder at Bankity
6.2
104
14
Andres Ramirez Sierra
CEO at Banlinea LATAM
6.2
105
15
Daniel Navarro
CEO & CoFounder at NIMMÖK
6.1
109
16
Fernando Sucre
CEO at ComparaMejor
5.9
110
17
Andres Villaquiran
Founder & CEO Alkanza
5.3
119
18
Carlos Castañeda Olaya
Open innovation leader at Accenture | Country Manager at Wayra
5.2
123
19
Marisol Camacho
Director of Corporate Relations at Bancóldex | Director of Mindset at iNNpulsa Colombia
4.6
131
20
Felipe Valencia
Partner at Veronorte
3.7
143
Conoce más de estas Fintechs
Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Colombia Fintech, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la Asociación. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.