Thread by @sarthakgh

Time for a thread, Im sorry!

Fintech has exploded in the past decade. Technology is changing how we save, invest, transact, borrow & much more. Where and how we interface with financial services is evolving. How we go about building financial services is changing.

Fintech played a powerful role in distributing PPP loans, stimuli checks and unemployment benefits during the pandemic. Given how critical financial services are to our wellness, embracing change to make the system more inclusive, reliable & accessible is a worthy pursuit

The complexity in building regulated products has been the greatest constraint on innovation

We have seen time and time again how reduction in complexity to start something new has resulted in an explosion of innovation

In the past few years, a growing set of companies have been designing the building blocks to enable others to launch new services in a fast, flexible & compliant way. This is not new but is accelerating.

This is lowering barriers to entry & speeding up two themes

Non fintech companies are now able to launch financial services within their software products blurring the lines b/w what’s fintech & what isn’t

New fintech startups can now build innovative products that address underserved behaviors, needs & audiences much faster

This increases personalization and access for consumers & businesses and creates room for lots of new possibilities across products & biz models

Lack of access to specialized knowledge & relationships holds many people back from gaining a foothold in these emerging areas

That's where On Deck Fintech comes in

My aim is to design what I wished I had when I was working on these problems. Im looking forward to learning from the diverse cohort we will put together. Hope this will be a big contribution to our ecosystem : beondeck.com/fintech