Big banks are starting to make more room for startup-style innovation. Finovate has become a place for these disparate worlds to meet. Startups may even be considered cool on Wall Street some day.
Financial startups don’t have the cachet of a Tinder or Uber: instead of promising easy hookups or a revolution in urban transportation, they focus on mundane issues like credit scores. But they are having a moment in the sun all the same. Thanks to technology and a new ecosystem that provides unprecedented access to the traditional lords of finance, so-called “fin-tech” is emerging in New York and elsewhere as its own class of startup scene — though it often looks little like the culture of Silicon Valley.