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Newark Tech Week: The Missed Urban Opportunity Of The Fintech Revolution
October 19 @ 6:00 pm - 8:00 pm EDT
Fintech (financial technology) & the current low barrier of entry presents a business opportunity for a community that has been historically underserved and underrepresented in financial services. Although the Fintech sector is massive and has continued to grow (over 12 billion in 2017) and the African American community has huge spending power (1.4 trillion by 2020), less than 1 percent of the CEOs of venture-backed tech startups are Black or Latin. More so less than 23% of both populations are considered financially healthy compared to 50% of their White counterparts. We will discuss the possible impact of the Fintech revolution and its accessibility/low barrier of entry for communities of color and possible solutions to the lack thereof.