Millennial Investing: How Voleo is Breaking Ground in the Fintech Space
If you’re interested in the fintech industry, you’ve most likely heard about Fidelity National Information Services, Inc. (FIS).
What started as Systematics Inc., a data processing company founded in 1968, FIS has become the world’s largest global provider dedicated to financial technology solutions. Not only is it known for its impressive history of acquisitions, FIS now empowers more than 20,000 clients in over 130 countries.
With such a massive market space, it can be hard to visualize just how impactful FIS is, so let’s use an example. One of my favourite innovations in fintech has been mobile payments, and by 2015, this tech had become more of a consumer expectation than emerging technology.
In 2015, FIS marshaled its scale to simplify the Apple Pay enablement process and was able to provide over 195 core banking clients with the service. By doing this, FIS took the number of Apple Pay-enabled institutions from five to more than 200, driving a 350% increase in monthly Apple Pay transactions.
Serving the largest players in the financial world is a key part of what FIS does, and relates to the remarkable 27 billion transactions that are processed annually. However, what some may not know is that FIS is equally dedicated to disrupting the fintech space through innovative tech start-ups and has created a dedicated program to support selected companies through their strategic development process.
The FIS Accelerator Program takes place annually, teaming up with Little Rock-based The Venture Center to provide mentorship and in-depth business support to 10 selected companies from around the world. Now in its fourth year, the program has already seen impressive results with the growth of its portfolio companies.
The 2019 cohort for the program shows an exciting array of businesses from across the industry, each providing a unique solution that range from student loan repayments to innovative investing platforms.
One company that stands out to me is Voleo, based out of Vancouver, Canada. As a young investor, there are significant challenges that my peers and I face when it comes to investing; these exact challenges, such as high-costs and a time-consuming, intimidating process, are exactly what Voleo has recognized and challenged with its social trading app. Users of Voleo’s app can sign up in minutes, invite their friends to join, and instantly begin discussing investing ideas with their peers before implementing a trade.
In terms of the company’s market positioning, Voleo recently began trading on the TSX Venture Exchange under the symbol “TRAD” and is showing massive potential amongst the changing investing climate. In the Company’s recent news release, Mark Morabito, Executive Chairman of Voleo, commented that “67% of millennials reported to be unhappy with how they currently invest.” In the U.S. alone, which is Voleo’s current target industry, investing is a 50-million-person market. With that being said, the market is changing. Drastically.
As the baby boomer generation ages, the industry is seeing a dramatic transfer of wealth. But unlike our parents, millennials are driving a new approach to how we manage our finances. Technology has allowed for time-consuming processes to be made instant with a tap of a finger, and although we want this for investing, it still is an intimidating procedure to do alone. Combined with the comfort of a community experience, Voleo’s app is truly unlike anything we’ve seen before. With the backing of the tech giant FIS, Voleo is in a great position to serve this critical gap in the market.
To learn more about Voleo, visit: www.myvoleo.com.
This article has been prepared by Venture Cap News, on behalf of Voleo Trading Systems Inc. (“Voleo”). Venture Cap News (“VCN”) has received payment for the publishing of this article. Voleo is a paid client of Kin Communications, the owner of VCN. Statements and opinions expressed are the opinions of the author and not VCN, its directors or officers. Neither VCN nor the author of the article, own any securities of the companies set forth in this article.
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August 12, 2017