Technologies like cloud data, artificial intelligence and mobile will accelerate the impact of fintech across every industry.
Investments in financial services grew forty-fold in the decade between 2011 and 2021, from around $6bn to nearly $240bn.
That is a huge leap; but, according to Arvind Purushotham, head of Citi Ventures, it is only the beginning.
A former microchips engineer at Intel, Purushotham spent nine years at venture capital firm Menlo Ventures before moving on to one of the biggest banks in the world at Citi, where he leads investments in early-stage companies, as well as incubation activities and wider innovation initiatives.
The unit focuses on areas like fintech as well as data analytics, cybersecurity, future of commerce, proptech and digital assets.
In our conversation, we speak about the explosive trajectory of fintech and how deeply it permeates every other industry, as well Citi Ventures’ venture-building activities, the impact the so-called crypto-winter will have on the wider digital assets market, and how data – which already underpins much of our economy – is only becoming more important.
Take a listen here.