Video instructions and help with filling out and completing Will Form 8815 Banking

Instructions and Help about Will Form 8815 Banking

There is a topic where I can guarantee this concerns each and every one of you in this room today it is money but what we like to have money or even better a lot of money we don't usually talk much about it well fasten your seat belts because for the first time money has actually become a fascinating subject something so exciting that they would even let somebody stand up and talk about it at TEDx so what's going on in fact a global revolution has just started and it goes by the name of FinTech this term was made prominent by The Economist in a special issue last year and Google search volumes have gone through the roof ever since so what's going on FinTech is short for finance and technology and it basically means reinventing the whole way we do we deal with money with banking in a completely new way based on today's technology what does that mean well let's run a little experiment right here right now I need a volunteer from the audience somebody here the lady in the second row what's your name Angelica thank you very much um applause for Angelica congratulations you actually don't have to do anything so you'll just earned em 50 Swiss franc just for your cover courage for participating and you'll I get the money right away there's there's only one problem I just realized that I didn't bring enough cash with me this morning so I just need to walk to the nearest bank branch and get some money from the ATM and I'll be back in a might be a bit dry for the rest of the audience I could also take out my laptop and send it to you um from my online bank account but also didn't bring my ten generator and apart from that today's Saturday so the bank is closed anyway so they'll start sending you the money on Monday so you'll probably get it by Thursday mmm that's a bit of a bummer now fast forward to this new FinTech world in this world both of us would own a revolutionary new and powerful device called smart phone and with the smart phone I could send you the money right away here from the stage and you would have received it in a minute from now and if you don't did have a mobile um first banking account you could actually open up right now here in the TEDx auditorium if you're not too loud this is what FinTech is generally aiming to do thinking about how we can redesign our banking experience with today's technology and if you think about it and if you look at the bigger picture the internet the smartphone they've already reshaped and disrupted entire industries in travel we use booking.com and Airbnb we don't walk to the nearby travel agent office to book our stay if you want to watch videos we stream them online on YouTube or Netflix we don't drive to the nearest video store anymore to borrow some DVDs and take them home and by the way if you younger folks in the audience wonder what video stores have actually been chances are you would just look it up on Google and not take out your little pocket encyclopedia so what about banking well isn't it a bit ironic that I could order a full-size plasma TV in the morning on my smartphone have it delivered the same day by Amazon but it takes almost a week until Angelica gets her 50s Swiss franc but I got some good news for you because the future of Finance has now arrived even in the technologically emerging markets of Western Europe what does that mean well let's have a look this is how most of us are used to dealing with money no matter if you want to save want to invest want to borrow maybe you want to send money internationally we would turn to our trusted bank either online or walk to the bank in some cases but now the same trend that has already appeared in other industries as we've seen before has now also arrived in banking in the industry of money so now there's alternative numerous startups have appeared which provides services really specialized and they often do it faster cheaper more convenient than the traditional bank when I shared all of this with my friend Jenny a couple of weeks ago she in the end looked at me and said well you know I mean if this is all that great then wonderful and awesome and faster cheaper better why isn't everybody using it already I mean I've hardly heard of anybody who actually uses this stuff right I think she has a point there so the next week I have this question on to a friend Dom who's working in London and for a fin tech company and Dom said well you know down sometimes I reminded of the history of cars cars so the automobile was invented back in 1887 but it took more than 30 40 years until they finally reached the majority of the cities although there faster in the long run cheaper and more durable than those horse carriages but people just seem to like their horses and so I just think people today like their bags well I think he has a point there and like in those days where people would have warned you of the severe health risks if you drive at breathtaking speed of more than 15 kilometers an hour like in those days they're voices that would warn you to use any of those FinTech providers or for Angelica to open up this mobile bank account what do banks actually think about this trend and they even taking it seriously turns out they do Silicon Valley is coming those were the famous words of Jamie

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