Roadmap: Fintech for the aging

As I said in the previous point, there’s an increasing number of people who are aged 55+, who are still working (especially that in many societies we’ll work longer), have money to spend, are fit/healthy and who have specific needs. This is why I think models like Wisr (a marketplace for senior talents listed on the landscape) or a Peloton for boom... See more

For the last decade, a vast majority of consumer fintech startups have focused on millennial customers.

What I see happening in B2B fintech is a sort of ‘consumerization’ of these previously unknown and unavailable methods of financing to the benefit of all founders, at all stages.

By 2050, there will be more than 2 billion people over the age of 60 in the world – about 25% of the world’s population. These numbers, combined with a massive increase in tech adoption by older adults, and a growing number of elderly-care providers, mean the Age Tech market is expected to reach $2 trillion.

Increasingly, fintech isn’t just about stealing the incremental customer, or participating in the evolution of the industry from analog to digital. It is a fundamental overthrow of how things have been done historically: a complete revolution.

Baby boomers are more tech savvy than their parents, having learned how to use computers and iphones during much of their working life, and may be more amenable to embracing (ever evolving) tech in their daily lives. This means that both post-retirement and elderly consumers themselves, as well as their aides both at home and in facilities, will be... See more

Many of the tools, API’s, and infrastructure created for financial applications were originally created for internal banking customers; however, now with the rise of consumer and business fintech applications, we are going to see outside developers as the new emerging customer.

And now there’s what [Venkatesh Rao] called the cryptobourgeoisie. There’s effectively an information advantage that young people can have that potentially allows them to capture some of the value that the Boomers have.