Thread by @IbrahimAjami

1/11 - 2020 has seen an acceleration of fintech adoption. As we wrap up the year, I wanted to share some thoughts regarding our ventures strategy in #fintech @mubadala 👇🏼

2/11 ANT (public or not) has elicited a digital payments revolution in China, with no turning back (70% of the Chinese population currently uses one of more ANT’s services). We believe this trend towards digital payments will keep expanding into other geographies as well.

3/11 Like most industries, finance is undergoing a digital revolution. This is driven by changing attitudes and higher consumer expectations for financial institutions, coupled with rapid technological advancement extending the reach of financial services.

4/11 This is why #fintech has been a central thesis to Mubadala’s ventures business from the beginning.

5/11 Our focus areas include solutions targeting 1) better banking & lending products for consumers & businesses 2) advancements in payments infrastructure 3) Ai that can improve underwriting & facilitate new business models

6/11 Why those areas? Physical, offline banking is becoming obsolete; user experiences should be seamless, quick and delightful; massive B2B payments are still performed via outdated channels like paper-checks; insurance should be personalized to you and only you.

7/11 Since launching Mubadala’s #VC business, we’ve invested in co's like @Gabi_Insurance (digital insurance broker) @BrexHQ (banking & financial tools for SMB) @C2FO (working capital marketplace) Parkside(democratizing access to US stocks) & @WellPayCares (healthcare finance)

8/11 All of these companies have one thing in common; born out of necessity & a realization that a broken system can & should work better. We are committed to founders who bring joy, simplicity, and value to users’ financial journeys, which often are fraught with frustration.

9/11 For example, 42% of consumers in US said they will reduce in-branch visits after COVID & many prefer to use mobile / banking apps. Financial services institutions that are running on legacy infrastructure are now forced to accelerate their adoption of digital banking.

10/11 Every company is becoming a FinTech company. Embedded financial services are a real thing that will only continue to gain momentum

11/11 We’re in the business of building companies that will drive the global industrial transition of technology, & financial services is at the core. We’re just getting started & look to work with founders who have big ideas, go global, and want the right partner by their side.