What can PropTech learn from the FinTech industry?

We invited some leading entrepreneurs from the FinTech sector to speak about what PropTech can learn from it's more advanced counterpart. It was a fascinating & insightful discussion, watch the full video below or read our key points for a quick overview.  

Host: Dr. Ricardo Schafer – Founding Partner of Loric Ventures

Our Category Leaders:

1. Daniel Hegarty – Founder & CEO – Habito

2. Manuel Silva Martinez – Managing Partner – Santander Innoventures  

3. Matt Robinson – Founder & CEO – Nested

Takeaway 1:

We should be looking at PropTech and Fintech as 'Consumer Services' rather than segregating them into competing arenas. The objectives are the same.

2:56 mins in

Takeaway 2:

Build products which consumers can comprehend. Both Finance and Real Estate are complex subjects, so ensure that you are not confusing your customers. Think about what the customers really want.

6:00 mins in

Takeaway 3:

Back great markets. Focus on the importance of solutions. Fix real problems. It is easier for startups to create these solutions as they can afford reputation risk. The trick is to manage this risk as startups scale.

7:00 mins in

Takeaway 4:  

Think of yourself as a trusted advisory always. Get to know your customers and build trust. Major thought needs to go into how you explain your product or services to users and educate them.

14:30 mins in

Takeaway 5:  

Startups have the same universal challenges: financial engineering, reputation, and proven processes. There is not always opportunity – The one thing that all startups CAN focus on is CUSTOMERS.

16:00 mins in

Takeaway 6:

Understanding regulations from the offset is important. It is important to understand these before growing your user-base and developing products.

19:44 mins in

Takeaway 7:

Hire the right people. Hire people who know a lot about governance and compliance if you want to scale quickly.

21.00 mins in

Incase you missed it, here is a great article from Forbes Real Estate Council on how PropTech and Fintech are changing Real Estate.

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5th September 2019

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