Who you may ask? Mayer Amschel Rothschild, (23 February 1744 – 19 September 1812), was a German Jewish banker and the founder of the Rothschild banking dynasty. Referred to as the “founding father of international finance,” Rothschild was ranked seventh on the Forbes magazine list of “The Twenty Most Influential Businessmen of All Time” in 2005.
It would be very interesting to talk to him today and get his thoughts on the current situation in International Finance.
- Bitcoins. I mean seriously? Theoretical money? And as there are about to reach a record high. And who doesn’t want a bit of cyrptocurrency in their wallet?
- Chatbots. Now even for us, in the age of technology, have difficulty with that one! Meet Pegg. She’s the latest offering in technology from Sage. Designed to reduce the admin time for those who want to make their business grow, not just spend time on admin.
Forbes: Many financial experts are predicting that automated banks are the next big disruptor for the banking sector. According to a recent study by Citigroup, automated banking could replace 30% of bank jobs over the next decade. Financial advisors and analysts are due to be quickly replaced by robo-advisors that render them moot — with big data in the wings, robo-advisors have the data needed to make split-second, uber-informed decisions. The payments and mobile banking industries are riding high, as well: fintech startups raised over $22.3 billion in funding in 2015, up 75% from 2014. This trend will speed up in 2017.
And although this is an American view, the rest of the world will quickly follow… or lead.
- Customers will become almost entirely mobile. Already 4 out of 5 consumers use their mobile to shop. And peer to peer is surely not far behind. The global workforce is becoming increasingly mobile. And rightly so.
So Happy Birthday Mr. Rothschild. The advancements are positive, and finance tech is looking rosy.
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