Sruthi Lanka is a technologist turned investment banker with 7+ years of experience across product development, mergers and acquisitions and capital optimization advisory. Most recently, Lanka worked as an investment banker at the Royal Bank of Canada, covering mergers and acquisitions of insurance, asset management and fintech clients.
The takeaway from LendIt is that commercial and multi-family real-estate technology is extremely nascent and poised for disruption although not without challenges, and that competition in the space is only likely to grow as computing power and machine learning models improve to meet the challenges.
A new breed of startups are looking to change that by completely digitizing the mortgage experience and bringing the number of parties a customer interacts with down to the manageable number of one. Here's what 5 top executives at those startups think.
A recurring theme through all the presentations during the day at LendIt was an eagerness on the part of all representatives and their staff to hear from and engage with key players in the fintech industry. Our main takeaway from the day’s discussions on regulation is that the representatives and regulators are listening.
At first look, it seemed to be an unlikely crowd for a conference involving technology-focused disruptors, but perhaps the formality of the event was indicative of the startups in attendance – growing companies beginning to rub shoulders with the establishment.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.