Friday, June 19, 2015

The future of finance is tied to trust

You trade with those you trust. The challenge is how do you determine who is trust worthy?

This creates an opening just as a new generation of consumers is coming of age in the era of hyper-personalized à la carte services. We’ve already seen some innovation taking place in the personal lending space, where companies like Kabbage and Lending Club are trying to provide smaller loans to individuals and entrepreneurs using algorithms that take things like social network behavior into account when assessing creditworthiness. And though the luster of the bitcoin experiment faded some as early adopters lost money when hackers hit a couple of exchanges, peer-to-peer platforms remain highly promising.

Systematically focusing on markers of honesty and trust worthiness seem like obvious steps for those wanting to distribute products requiring high levels if trust. Both in and out of Finance
True KYC.

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