"hi everyone welcome to the a 6nz podcast I'm sonal and today Michael and I are taping another special episode of the a 6 & Z podcast on the road from London and so we are bringing this to you live fro..."

"from London and today's topic is FinTech or financial services and tech meets technology and joining us on the podcast today are Alex man pal who is our newest GP General Partner who among many other ..."

"we also have Eileen burbage who is a partner at passion capital and early stage seed fund that's one of the most prominent early stage seed funds in London and she's also the chair of tech city and ve..."

"would say we loan money we're a bank or we do finance we do microfinance but they they have very very well defined terms but anybody who's trying to compete with them that's fin tech company uh-huh it..."

"acquire like you know some competencies and and make it happen like just hire really smart developers and bring technology to their business yeah I mean I don't think that's any different in the finan..."

"combination of those two things and you're asking earlier sort of why now I really think the 2007-2008 crisis had a lot to do with it I think on the one hand you saw with the financial crisis that may..."

"combination that you need I'd actually add to the Venn diagram I think there's a fourth element to I think another thing that makes London so special so you got the tech you know obviously not at the ..."

"first three elements of that Venn diagram especially for financial services because on a panel that we did yesterday I was talking about if you want to launch uber or Airbnb or do something of that so..."

"startups you know and it's got the government here sees 300 of the world's banks with their headquarters here in London we have more American Bank headquarters here in London than in New York so it's ..."

"kind of measure and introduced in some 1,400 or 1,500 measure when the government was you know when that was brought to its attention obviously you know it holds a quick review but it changes it and t..."

"that that would that would sort of support things in remittances and foreign exchange but maybe there was something about you know moving faster to chip-and-pin cashless payments you know we've had th..."

"had that for close to 20 years we also had Chip and PIN which I was just in the States to two weeks ago and I know is now starting to get rolled out it's not sure no parent yeah which is really weird ..."

"might have that if you switch over to chip and you look at the capex that's required to go replace all of your terminals all of your your little checkout machines your POS systems that actually might ..."

"like Lending Club is really a bank and I use this term a lot and and companies like Lending Club are banks but they're not banks at the same time because think back to when Gmail came out so Gmail com..."

"way that somebody's not looking for a fin tech company somebody's not looking for a lending market place somebody says wow I have I'm in debt and I'm paying 19 percent interest to my credit card a fri..."

"you know you were talking about the timing of things the iPhone itself was only introduced in 2007 look at all the industries that have been just well quote disrupted or at least evolved just because ..."

"other banks in the u.s. in terms of just intelligence around granting credit but their whole system is built on company called tsys which is built actually it sounded off you know tsys total systems C..."

"not enough you can't have a solution in search of a problem and like just saying okay we've got a new bank and it's tech enabled and instead of getting two basis points of interest on your I learned t..."

"reinventing it is not enough I mean it's this is the the quote that I use around the office all the time which is the battle between the incumbent and the startup comes down to whether the incumbent g..."

"gonna pay me back and but how would you know that ex-ante you have to actually make loans to figure out if people are going to pay bad loans right yeah like alright I want to start a life insurance co..."

"new competitors from going in where you know if Geico was only spending $15 a click on Google then a start-up could compete if they're spending $100 a click on Google this startup can one reason I lik..."

"think there's a lot more underneath I guess like if you think of an iceberg type analogy you've got all the challenges on the consumer facing side but under the water under the surface of the water th..."

"whereas how would how would somebody that knows nothing about this sector actually understand this this is actually where regulation if it were well communicated might be more helpful is saying or lik..."

"do think what's interesting about the younger demographic is that surveys are saying and you know I don't know how much is true you know that the younger generation is not trusting what the previous g..."

"actually personally believe I mean I'm not an expert in this space means but I actually personally believe that all the sort of stealth players that have these sort of shadow payment systems we're giv..."

"the biggest threats not threats would Ally pay right in terms of how many people actually make purchasing decisions and have their payment details with that company right we actually published a very ..."

"there's no way there's no gotcha on an Apple product and the only gotcha is like damn I wish my my iPhone battery lasted more than a year and I have to buy a new iPhone to get a new battery but it's n..."

"concentric Li outward but I think you do have a number of interesting like some of the larger companies that are not financial services companies at all whether it is like if if Ulster wanted to becom..."

"I think actually this is a major opportunity for a lot of startups to come in because as a consumer right now you don't get rewards on a card you want to get rewards on a card it actually it's trigger..."

"you thank you"