Macro Trends, page-2

There were discussions last week that sources said John Karantzis went to London to present ISX to Goldman Sachs clients in London.

The question is why Goldman Sachs? You'll see in the graph below

Why in London? The UK are one of the strongest supporters of FinTech and RegTech innovations. They have a dedicated website and podcast called FinTech Insider https://fi.11fs.com/

In a recent Bloomberg article, they stated that U.S. banks had already made 24 FinTech investments in 2019. The most active were Goldman Sachs, Citigroup, and JPMorgan Chase. Payments and the capital markets business have driven a lot of the investment by these banks.

Rival banks don’t often invest in the same companies, but in the FinTech space it’s not unheard of. Digital Asset Holdings LLC, a blockchain startup, is backed by all three, for instance, while Plaid Inc., which connects bank customers’ data to third-party finance apps, is backed by Goldman and Citigroup. Last year, Goldman acquired Clarity Money, a personal finance website in which Citigroup had previously invested.

In the graph below, we can see that Goldman Sachs have made multiple investments in RegTech companies:



Source: https://www.bloombergquint.com/markets/from-mobile-banking-to-facebook-cryptocurrency-a-fintech-guide