Opportunities and Hurdles for Financial Technology Startups
Sullivan hosted a Silley Circuits start-up panel discussion, "Opportunities and Hurdles for Financial Technology Startups," on October 7, 2019 in the firm's New York office.
Potential opportunities for financial technology companies are several hundred billion dollars, from bill collection and payments, to student and business loans, automated wealth management and financial services. Several startups are tackling these opportunities. Yet they face major hurdles, from the high cost of meeting complex regulations to long-entrenched finance companies fiercely protecting their markets and profit margins.
Possible solutions include: focusing on niche markets; providing unique products; or partnering with big incumbent companies, and pursuing major markets in stealth mode, bypassing big, well-funded competitors. Our panel discussed these issues and more.
Alan Silberstein, trustee of Global Payments
David Teten, venture partner at HOF Capital
Greg Farrington, President, Constellation Advisers
Justin Zhen, co-founder, Thinknum
Scott Kaufman, host, Partner, Sullivan