USA Continues to be a Top Location for Fintech Eventsby Fintechnews Switzerland November 6, 2019
On the global fintech scene, the US has been amongst the top leaders, accounting for 57% of the fintech market in 2018, according to a Mordor Intelligence research.
Consumers in the country have realized the key benefits of fintech solutions such as lower rates and fees, convenience, simplicity, transparency and personalization, and on average, it is estimated that one out of three digitally active consumers uses two or more fintech services.
Fintech continues its momentum this year, with investment in US fintech companies surging to US$12.7 billion in the first half of 2019. That represents a 60% increase in value of deals and signals a trend of larger deals in already the world’s biggest and most active fintech market, according to data from Accenture.
The US is home to a vast variety of fintech companies and initiatives. In particular, US companies are leading innovators in the development and deployment of electronic and digital payments, the digital delivery of consumer and commercial financial products and services, blockchain, as well as cryptocurrencies.
In the payments sectors, entities such as PayPal, Venmo, Square, Stripe, Google Wallet and Apple Pay are providing mobile payment and digital wallet services that allow individuals and businesses to make payments and send or receive money seamlessly.
In lending, startups like Lending Club, Prosper, OnDeck and Kabbage are offering lending products online and through mobile applications, often by connecting borrowers to lenders.
And in wealth, technological advances in the fields of artificial intelligence (AI), machine learning (ML) and big data, have allowed companies like Wealthfront and Betterment to automate investment advice, and enable consumers to conduct their investment activities entirely online and generally with fees that are significantly less expensive than hiring a human financial advisor.
Given the US’ leading position in the fintech space, it comes with little surprise that some of the world’s largest fintech events are being held in the US.
Biggest fintech events in the US
Money20/20 is perhaps one of the biggest financial and payments conferences taking place annually in the US and around the world. The US edition, held in Las Vegas, is attended by over 10,000 people, including more than 2,000 C-suite executives, who come each year to network and learn from hundreds of well-known speakers. Money20/20 also holds annual regional events in Asia and Europe.
Future of Fintech, organized by data company CB Insights, is another major annual event that brings together more than 2,500 fintech influencers for an exclusive gathering. Each year, the event is attended by some of the world’s most successful fintech companies like Stripe, Affirm, Palantir, Plaid, Circle, Credit Karma, Oscar Health and Toss.
One fintech event that stands out is Finovate. The demo-format conference series claims to be the only event focused exclusively on showcasing the most innovative new financial and banking technologies through a unique blend of short-form demos and key insights from thought-leaders. Finovate takes place twice a year in the US in addition to regional gatherings in Asia, Europe, the Middle East and Africa. This year’s fall edition in New York attracted more than 1,600 fintech professionals.
For blockchain and cryptocurrency folks, Consensus is the must-attend annual conference. Organized each year by the industry’s leading news site CoinDesk, Consensus is the ultimate annual gathering of the cryptocurrency and blockchain technology world. Since 2015, Consensus has welcomed a wide range of speakers from titans of Wall Street and Fortune 500 executives to pioneering cryptographers and the core developers who power the world’s most valuable cryptocurrencies, to discuss the future of the industry.
Besides Consensus, CoinDesk also organizes the annual forum Invest: NYC which focuses on trends and investment opportunities for cryptoassets. Invest: NYC is attended by global investors across asset management, commercial banks, hedge funds, pension funds, mutual funds, insurance companies and service providers, who come together to discuss macroeconomics and crypto.
Other leading fintech conferences taking place in the US include LendIt, which hosts three events per year in the US, Europe, and China, FinCon, the world’s largest financial content expo for personal finance and investing bloggers, influencers and media, and the Mobile Payments Conference, a multi-day annual forum that brings together leading experts in the fintech, mobile payments and digital technology industries.
Featured image credit: Money2020