I'm Elena Casas.

我是Elena Casas

Our focus today is Fintech, and our guest is Dean Kim, the head of global financial sector research at O'Neill Global Advisors.

我們今天的重點是金融科技，我們的嘉賓是奧尼爾全球顧問公司全球金融行業研究主管Dean Kim。

Fintech has grown from niche to big business, comprising payments and lending companies, as well as companies that deal in Cryptocurrency.

金融科技已經從小眾發展到大企業，包括支付和貸款公司，以及經營加密貨幣的公司。

This sector has vastly outperformed traditional financial services despite a sharp selloff this week.

儘管本週該板塊大幅下挫，但其表現卻大大超越了傳統的金融服務。

This index, for example, is up 50% over the past year.

例如，這個指數在過去一年中上漲了50%。

Financial technology companies are abroad, but do focus heavily on mobile payments and consumer lending.

金融科技公司在國外，但確實非常注重移動支付和消費貸款。

PayPal Square and Australia's Afterpay are good.

PayPal Square和澳洲的Afterpay都不錯。

Examples of those are risen to the top of the tech heap, but it can also include more risky up and coming ventures, such as those dealing in Cryptocurrencies.

例如，這些都是崛起於科技堆的頂端，但也可以包括風險更大的新興企業，比如那些處理加密貨幣的企業。

So what is his outlook and how do investors approach the sector?

那麼他的前景如何，投資者又該如何對待這個行業呢？

Let's ask O'Neill Global Advisors Dean Kim, Dean, Hi.

我們請奧尼爾全球顧問金院長，院長，你好。

Thanks for joining us now The sixth biggest financial tech firms now have a bigger market camp than the six biggest banks, don't they?

謝謝你現在加入我們第六大金融科技公司現在的市場陣營比六大銀行還要大，是不是？

So how did Fintech overtake traditional banking?

那麼，金融科技是如何超越傳統銀行的呢？

Yeah, well, first of all, thanks for having me when you look at payment or the fintech payment space and you're looking at it from 30,000 ft.

是啊，首先，謝謝你邀請我，當你在看支付或者金融科技支付領域的時候，你在3萬英尺的地方看它。

The world is still used to using physical cash, and they are still in their evolution to moving over to non cash.

這個世界仍然習慣於使用實物現金，他們還在向非現金過渡的演變中。

And so we think there's a secular trend that's going to go on for multiple years and to give you an example.

所以我們認為有一個世俗的趨勢，會持續很多年，給大家舉個例子。

If you look at Visa and how big Visa is, they're still growing double digits in terms of revenue and GPS.

如果你看看Visa和Visa的規模有多大，他們的營收和GPS仍然是兩位數的增長。

And so we think that secular trend from physical cash to digital is has a long way to go.

所以我們認為，從實體現金到數字的世俗趨勢是有很長的路要走。

And the FINTECH companies definitely are going to benefit from that.

而FINTECH公司肯定會從中受益。

Now.

現在就去

Some financial tech firms are moving into offering bank accounts, aren't they?

一些金融科技公司正在向提供銀行賬戶發展，不是嗎？

And the regulators in some countries are trying to regulate them like banks.

而一些國家的監管機構正試圖像監管銀行一樣監管他們。

So how blurred is the line becoming between?

那麼，兩者之間的界限變得多麼模糊？

What's a fintech company and what's a bank?

什麼是金融科技公司，什麼是銀行？

Yeah, that's a very interesting topic these days, and we're seeing acceleration of fintech companies moving into traditional banking just, you know, yesterday or the day before square announced that they had received banking license from F D.

是的，這是最近一個非常有趣的話題，我們看到金融科技公司正在加速進入傳統銀行業，你知道，昨天或者前天square宣佈他們獲得了F D的銀行牌照。

I C here in the US, and so now they're gonna be offering banking services to their merchants, millions of merchants.

I C在美國，所以現在他們要為他們的商戶提供銀行服務，數以百萬計的商戶。

And the next step for them is to offer banking services to their, you know, 35 million active users, uh, in terms of consumers.

而他們的下一步是向他們的，你知道的，3500萬活躍用戶，呃，在消費者方面提供銀行服務。

So they're definitely going to be a competitive threat in terms of total, you know, traditional banking service.

所以，他們肯定會在總的，你知道的，傳統銀行服務方面成為一個競爭威脅。

Uh, and at the same time, we have traditional banks now coming into the space of offering fintech like services.

呃，與此同時，我們傳統銀行現在也進入了提供類似金融科技服務的領域。

So we have Silver Gate Capital, based in San Diego in California is a bank.

所以我們有銀門資本，總部在加州的聖地亞哥是一家銀行。

But there are, You know, they're taking in Bitcoins as deposits now, and what they're doing is they're taking that funding in terms of digital currency turning around and underwriting loans to their customers.

但也有，你知道，他們現在把比特幣當做存款來吸收，他們所做的就是把這些資金以數字貨幣的方式轉過來，給客戶核銷貸款。

So, uh, space is definitely becoming blurred.

所以，呃，空間肯定變得模糊了。

But I think at the end of the day, it's all about capturing consumers or customers.

但我覺得歸根結底，還是要抓住消費者或客戶。

What's your advice to investors?

您對投資者有什麼建議？

Then how should you approach this sector?

那麼你應該如何對待這個行業呢？

Yeah, I think you know, as we talked about, you know, the payment processing world is still in a secular growth trend.

是的，我想你知道，正如我們所談到的，你知道，支付處理世界仍然處於一個世俗的增長趨勢。

And so for investors, I think it's a great way to invest, you know, in terms of E t s.

所以對於投資者來說，我認為這是一個很好的投資方式，你知道，在E t s方面。

You know, if you're kind of risk averse.

你知道，如果你是那種風險厭惡者。

Definitely looking to E t s.

一定要找E t s。

Uh, so e t s like I pay Finex R F as well as Kayla, Kayla and Coin.

呃，所以我付給Finex R F以及Kayla，Kayla和Coin。

Those are all excellent Hutts where investors get have exposure to the secular trend.

這些都是優秀的Hutts，投資者得到有接觸到世俗趨勢。

So definitely look into those.

所以一定要看看這些。

Thanks so much for joining us.

非常感謝你加入我們。

That was Dean Kim, head of global financial sector research at O'Neill Global Advisors.

這就是奧尼爾全球顧問公司全球金融行業研究主管Dean Kim。

Before I go, here are some of the top stories in the sector.

在我走之前，這裡有一些部門的熱門新聞。

Hippo Enterprises will go public through a $5 billion merger with a blank check firm backed by Silicon Valley heavyweights Reed Hoffman and Mark Pincus.

河馬企業將通過與一家由硅谷重量級人物裡德-霍夫曼和馬克-平卡斯支持的空頭支票公司進行50億美元的合併而上市。

Hippo will merge with the special purpose acquisition company called Reinvent Technology Partners Z, and we'll give the company about $1.2 billion in cash.

Hippo將與名為Reinvent Technology Partners Z的特殊目的收購公司合併，我們將給予該公司約12億美元的現金。

The deal comes as the pandemic has forced the insurance sector to rely heavily on technology to reach customers.

這筆交易的達成，是由於疫情迫使保險業嚴重依賴技術來接觸客戶。

With total annual investment in the so called insure tech sector rising to $7.1 billion last year, China's FINTECH companies are expected to meet capital adequacy requirements within two years.

去年，所謂保險科技行業的年度投資總額上升到71億美元，中國的fintech公司有望在兩年內達到資本充足率要求。

This from the head of the China Banking and Insurance Regulator Commission, who also said these platforms should have adequate capital.

中國銀行保險監督管理委員會負責人對此也表示，這些平臺應該有足夠的資本。

Like all other financial institutions, Chinese regulators have rolled out a slew of measures since last year to tighten the oversight of the industry in the wake of discovering of the ant financial I p o and the European Union securities watchdog says rules on company financial information need to be updated.

與所有其他金融機構一樣，中國監管機構自去年以來推出了一系列措施，以加強對行業的監督，在發現螞蟻金融I p o之後，歐盟證券監督機構表示，公司財務資訊的規則需要更新。

To prevent another wire card scandal, the watchdog set out proposed reforms to eliminate barriers to sharing confidential information about a company and to clarify which body is responsible for enforcement.

為了防止再次發生電報卡醜聞，監督機構提出了改革建議，以消除分享公司機密信息的障礙，並明確哪個機構負責執法。

White Card was once worth $28 billion and collapsed last year after disclosing a multi billion dollar hole in its accounts.

白卡曾身價280億，去年披露了數十億的賬目漏洞後倒閉。

And that's your roundup of the Fintech sector.

這就是你對金融科技領域的總結。

I'm Elena Cassis and this is Reuters.

我是Elena Cassis，這裡是路透社。