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By Matt Harris, Merritt Hummer, Ashley Paston, Allison Xu and Keri Gohman

Open banking is undergoing a revolution in both capabilities and public perception. The first stage of fintech largely involved banks taking analog processes online, and it took them some time to fully appreciate the potential that data-driven financial processes presented. Individuals, for their part, were understandably concerned by the idea of their data being shared and exploited. …


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Originally published on Forbes.com, this is part two of a two part essay diving into the future of fintech. Read part one.

In part one of this essay, I discussed how fintech was moving from being a business model unto itself, to being an ingredient used in other technology businesses. This is what we refer to as the fourth platform, joining Internet, Cloud and Mobile in the modern technology stack. In Part 2 we will discuss why this is happening, and give some early examples.

Benefits of embedded financial services

When you look at the benefits of this embedded financial…


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Originally published on Forbes.com, this is part one of a two-part essay diving into the future of fintech. Read part two.

Nearly 20 years ago, I decided I was going to spend my venture investing career focused on the intersection of financial services and technology, what today has become widely known as fintech. Back then this was somewhere between contrarian and insane, given that VC investment in financial services rounded quite comfortably to zero.

Fortunately, it’s turned out to be a good bet, with fintech representing 14 percent of the venture business and climbing. But the role that fintech will…


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At Bain Capital Ventures, we strive to be an exceptional partner to our portfolio companies — we want founders to understand that we’re by their side every step of the way.

Our operating partners are especially critical in this endeavor, providing strategic counsel to executive teams, helping to optimize company operations and serving as a sounding board when tough decisions inevitably arise. As our fintech practice steadily expands and as we continuously aim to up our game, I’m pleased to welcome our newest operating partner, Keri Gohman.

Having spent the past two decades living and breathing all things fintech, I…


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Picture yourself at your local bookstore. If you’re me, you’re either buying an obscure military history tome or another copy of 10% Happier, my brother’s book about mindfulness. As you bring your book to the counter, you notice the owner of the store is using a system from Lightspeed POS Inc. to manage her business. From inventory management to her team’s work log, it’s all a click away on her tablet. Your credit card gets accepted without a hiccup, the owner slides your book in a paper bag, and you walk out.

While the bookstore was able to process your…


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Originally published on Forbes.com, this is part two of a two-part article co-written with David Snider

The investment management industry is ripe for disruption. Whether it be wealth management (advising individual and institutional investors where to allocate their capital) or asset management (creating investment vehicles to manage capital), fees are trending down and client expectations are trending up.

This dynamism has created opportunities for new entrants to quickly take share, albeit often in ways that are catalysts for overall industry profit pool reductions.

So where does that leave market incumbents? Their survival will depend on their ability to successfully navigate…


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GETTY IMAGES

Originally published at Forbes.com, this is part one of a two-part article co-written with David Snider

The investment management industry is ripe for disruption. Whether it be wealth management (advising individual and institutional investors where to allocate their capital) or asset management (creating investment vehicles to manage capital), fees are trending down and client expectations are trending up.

This dynamism has created opportunities for new entrants to quickly take share, albeit often in ways that are catalysts for overall industry profit pool reductions.

So where does that leave market incumbents? Their survival will depend on their ability to successfully navigate…


Originally published at fortune.com on August 8, 2018.

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I’ve been proven wrong once again.

For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million.

With that said, this whole “fintech” thing…


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If you’ve ever thought about buying a home (or have successfully gone through the grueling process), you’re well aware of the headaches involved.

Just when you think you’ve gotten over the biggest hurdle of actually finding a home, the bid-process kicks off…then you deal with the mortgage, appraisal, inspection…then the waiting period and closing process…or worse, having to hit the reset button and play the tantalizing home-buying game for a second or third time. Adding to this complexity, home supply has dramatically declined over the past several years as all-cash buyers move aggressively into the market.

Fun, right?

Well, there’s…


Originally published at www.forbes.com on February 13, 2018.

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In 2017, venture investors deployed over $5 billion in real estate technology, more than 150 times the $33 million invested in 2010. Once a sector seemingly ignored by the venture industry, real estate tech has come front and center, notably producing two of the three most valuable startups in the United States, WeWork and Airbnb.

Driving this investment explosion is the evolution of real estate tech from its initial phase of software and marketplaces complementing the incumbents to a new era where tech enabled players are going head to head against the…

Matt Harris

Husband, father of six, VC focused on financial services, based in New York City.

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