ISX Growth, page-106

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itzgr82balive

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25/11/19

17:55

Post #: 41621149
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Originally posted by Patrick85: ↑

Thank you so much for being on this forum. Rationality is extremely important to me. Great to have you here.

I follow FinTech news in the UK, US, China and EU. We are at least 2-3 years behind them. And all these doubts regulators have are the same in those countries.

What happened to Westpac will be forgotten in a few weeks. However if it was a Neobank, they would be harshly punished and the press will go out of their way to remind the public.

Monzo, a Neobank in the UK, for example, got smashed in the media by the BBC Watchdog, who spun a story against Monzo for what their technology is designed to do.

2 weeks ago, Monzo detected in real time thousands of fraud cases that mainly dealt with sex trafficking. They had to make the call to shut those accounts down and alert the authorities. The owners of those accounts went to the press and told them about their sad story and how Monzo has no grounds to close their accounts and felt hard done by. At the same time, Monzo can’t reveal why those accounts were closed until the authorities completed their investigation. This created a shit storm for the CEO and a PR mess to manage and contain as the general public found it difficult to understand how their technology works.

I maintain rationality by recognising the same concerns ISX are facing in other FinTech and RegTech companies which were given birth following the GFC.

Anyways, thanks again for your posts. I really appreciate them.

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Thank you very much Patrick. It is shocking how much press and discrimination there is against a small cap stock vs a large cap stock. Also, I believe it is new technology and not understood yet. We all know what it means to go into a bank.

As per your next post, I wish I could be there for the fintech convention. Since retiring, I have moved from Sydney and am relaxing in the sunshine.

Well, obviously, not relaxing....

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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