Disruptive Innovation in Financial Services: Are We at a Digital Inflection Point?
Join a discussion with Benson Porter, CEO of BECU, and John Lass, MBA '82, President of Lass Advisory Services. REGISTRATION HAS CLOSED.
Since the financial crisis, a rapidly growing category of venture capital investing has focused on fueling disruptive innovation in the retail financial services sector. Over the past 12 months the so-called FinTech (i.e. “financial technology”) start-ups have attracted nearly $20 billion in venture funding. A number of the leading FinTech firms have achieved “unicorn” status (i.e. valuation greater than $1 billion) and a few, such as Lending Club, have gone public.
John Lass, MBA '82, will describe how FinTech disruptors are challenging incumbent banks, credit unions and insurance companies across virtually every product category of financial services, including lending, wealth management, payments and insurance. John will examine how these early-stage companies are threatening to provide better financial products and services at lower cost and with greater convenience by utilizing digital distribution channels, and in particular the mobile phone, to meet consumers’ financial needs.
Benson Porter, CEO of Tukwila-based BECU, will describe how BECU, as the fourth largest credit union in the U.S. with $14 billion in assets and more than one million members, is planning to stay one step ahead of the FinTech disruptors by incorporating the latest in digital channel distribution and data analysis to further enhance BECU’s position as the number one market share leader among banks and credit unions in the Puget Sound region.
Thursday, May 12, 2016
7:00 am Registration
7:30 am - 9:00 am Breakfast and Program
Registration has closed.
The Rainier Club, 820 4th Avenue, Seattle, WA 98104
This is a partner event organized by the Harvard Business School Club of Puget Sound.