Fintech startups have the technology but struggle with trust. Wealthy customers won't switch to self-serve financial apps the way they buy things online. They expect personalized service, not a product-first model.
Well, in fintech, what they have going for them that financial services did not have is, is the technology aspect. What most of the fintechs I run into, the main challenge they have is trust building. I think that money is the, the latest frontier on converting clients because of the trust issue. You have no problem buying soap or a dress or whatever online, but buying financial services, like, still an issue that people are having trouble with, especially high net worth or ultra high net worth individuals because they're used to very personalized approach to their services. So fintechs That I've run into, that's the main issue they have. They think that they can put the product out there and just like opening a Facebook account, people will use it.
2 people, infinite agents, 1 billion dollar idea #AIAgents #Startup #Productivity
