SXSW: Banking 2.0: Financial Services Driven by People and Emerging Technologies

Live from SXSW in Austin, TX, Saturday March 13, 2010

Presenters collectively have more followers than the top 10 banks combined. People are coming together to invest better than the pros on Wall Street. Making products that are relevant to what people want. Transparency into what is going on with one’s finances, no more black boxes. Anytime, anywhere.

The paradigm has changed:

• Increased awareness of importance of savings
• Responsible borrowing/investing
• Frugal is the new smart
• Financial education starts earlier

New wave of financial products

• Stock picking communities
• Person-to-person lending, micro finance, crowd funding
• Community-based personal finance management: getting out of debt, better interest rates
• Credit score management
• Social savings

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