From AMC To T-Bills: Embracing Innovation With Fintech

The desire to capture the attention of young adults has been on the fintech leaders’ wish list for years. With Generation Z it seems that they have finally succeeded.

The COVID-19 pandemic unfolded just as this generation started reaching adulthood. Catering to this first "pure digital" generation is not easy and requires companies to innovate continuously.

Four fintech leaders met today at the Benzinga Fintech Deal Day for the “Future Proof Trading: Embracing Innovation and Change for Success” panel hosted by TipRanks Uri GruenBaum to discuss the latest technologies and trends that shape the future of trading.

As CEO of TradeStation – one of the largest trading platforms — John Bartleman observed the trend that started in 2020 when retail trading exploded and eventually subsided in 2022. Still, those customers who stayed wanted to learn more and get better.

"They all look to get more educated, so they graduate to a platform like TradeStation, where we can provide education and access to analytics and amazing tools," he said.

With numerous platforms using their solutions, Bartleman is now looking to leverage AI to match people with solutions that best make sense, defining this concept as an “AI-powered concierge."

Reflecting on this retail trading momentum, Charles Schwab’s Managing Director Katie Ryan pointed out that the company’s focus is on educating and informing these new customers while adjusting to their preferences for short-form content.

"We’re partnering with companies that are providing real-time, crisp data, as opposed to throwing so much information at them, which they’re not able to filter through, and which they don’t have time for," Ryan said, adding that they want to have a suitable solution for every customer, regardless where they are on their journey.

Katie Perry, general manager of retail investing platform Public, has also noted a shift in behavior.

"They went from AMC to T-bills," she said to everyone’s amusement.

"Clients are asking for more tools. They want to access more data and make smarter decisions more quickly," she added, stating that Public strives to accomplish this by expanding its AI capabilities.

The situation is slightly different for Zach Hascoe, Say Technologies’ chief commercial officer. As a service for digitalizing the proxy voting concept, the company focuses on long-term shareholders who want their voices heard.

"We try to change the perception around proxy voting to create a holistic ownership experience that brokers can integrate within their platform," he said.

Yet, Say Technologies works as a two-way street because firms get a lot of data about their retail investor base.

"We’re breaking down historical friction between the shareholder and the public company to ensure it’s a meaningful and productive experience for all parties involved."

Photo: Uri Gruenbaum, Katie Perry, Katie Ryan, Zach Hascoe and John Bartleman at Benzinga Fintech Deal Day & Awards 2023, photo by Pratya Jankong for Benizinga