Teun von den Dries talked to us about his firm GeoPhy and the function of fintechs within the finance sector.
Teun van den Dries is founder and CEO of GeoPhy, a knowledge platform and analytics instrument so as to add transparency to the property market and derisk funding selections. With the property market being pretty opaque, acquiring structured details about sure objects is a quite difficult job. Knowledge isn’t used successfully internally based on van den Dries, and can be virtually by no means shared. Providing a complicated resolution to this downside, the GeoPhy staff grew from 2 to twenty throughout the previous 2 years and is now lively in 40 international locations.
Speaking about FinTech, van den Dries shares the view of many attendees we had the possibility to speak to. He contains within the time period “any service that monetary establishments supply and that expertise can do higher. Apparently, this definition would depart GeoPhy, in addition to many different exhibitors and attendees on the convention out of the image.” The time period is to be understood in a really broad sense to account for all the businesses which are referred to as fintech proper now.
Additionally for GeoPhy, van den Dries says, making all the pieces they provide simply accessible is an important situation to creating an excellent buyer expertise. A helpful issue for that is having no legacy, thus not having to cope with an present system that was construct a number of years in the past and subsequently having the ability to construct from scratch – which implies with low thresholds and in a really agile means.
Requested in regards to the panorama of banking, van den Dries states that “I feel it is going to take a bit longer for banks to vary. There may be positively a really robust inertia on this sector, principally attributable to compliance regulation, so will probably be fairly powerful for anybody difficult a financial institution to really change it. Should you’re a taxi firm, you’ll be able to simply arrange a brand new taxi firm. In most international locations it’s pretty simple. With a financial institution it’s fairly exhausting. However by way of innovation and innovation pace, the banks don’t stand an opportunity. Within the brief time period they’ll be tremendous, in the long run most of them received’t survive.”
He states {that a} financial institution, in the long run, is an organization that should earn cash and the worthwhile bits are just lately focused by fintechs. Nevertheless they most likely will have the ability to dwell off the remaining components of their enterprise for a time enough for them to adapt to the brand new and disrupted panorama of finance.
