08 april 2022
Finovate 2022
On March 22 - 23, Fyndoo was physical present at Finovate Europa 2022 in London. We have been exploring the future of banking in the metaverse with an on stage demo.
Ready to metaverse
The ready to metaverse checklist for banks.
The metaverse reshapes the internet. Big tech is placing big bets on this future. Some analysts predict the metaverse to be an $8 trillion opportunity.
The metaverse leverages virtual reality, augmented reality, blockchain technology, and social media concepts to formulate a space for consistent user interaction that replicates the real world. Or, how we like to call it: ‘Mark Zuckerberg’s Matrix’
Some early signs
We see some early signs of a society and economy in the metaverse. Land sales picks up steam quickly. The Foo Fighters had a great show and after party. Burberry offers really nice virtual accessories. For banks, this represents a multitude of opportunities. Whether it is investments and savings, payments, loans and mortgages - there are plenty of possibilities. In an earlier article, we gave our take on using NFTs as collateral for real-world loans.
However, we advise not to jump in just yet. It is better to build capabilities by exploration.
But where to start? How to approach it? Our approach is to dive right in: there’s no better way to explore than to experience!
This checklist is the not-so-complete checklist for banks eager to explore the metaverse. This list has 3 segments: the lay of the land, technology, and discussion topics. Use this list as an inspiration and a starting point for your own journey - not as a limited itinerary. Have fun on your trip through the metaverse!
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Metaverse checklist for banks
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News
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03 maart 2022
Our take on using NFTs as collateral
My colleague - Jamie - asked me the question: “Can you lend me 10K? I’m good for it because I’ve got a bored ape which is at least 50K worth”. If the last part bewilders you, you’re not alone.
23 februari 2022
Our take on how banks interact with clients in the metaverse.
As the metaverse begins to unfold, we explore the potential of this virtual reality for interacting with clients. The opportunity for a bank to open a branch in the metaverse is, or will be, a compelling proposition. This article explores some of the experiences we had while exploring the metaverse.
01 september 2021
Quick way to responsible financing
The corona crisis has caused banks to push the brake pedal on lending even harder, notes Jamie Burink, Head of Business Lending at Fyndoo. Of all SMEs, 22 percent needed business financing between July 2019 and the following year, according to the Financing Monitor 2020 of the dutch Central Bureau of Statistics. One in five applicants did not receive their credit (in full). Banks are tightening their requirements and entrepreneurs are increasingly relying on other lines of credit.