David Yakobovitch spoke to Ryan Conway, SVP, Head of Business Development & Strategic Partnerships at Oxygen about how Oxygen improves banking for SMEs.

Here is what they covered:

FinTech evolution

Fintech industry trends
- Predictions for fintechs and traditional banking
- FinTech 1.0 - unbundling
- FinTech 2.0 - rebundle multiple products
- FinTech 3.0 (smart money/ AI)
- Crypto

SME banking

Now more than ever, the importance of banking for small businesses
- Banking for small businesses
- Oxygen recently announced a partnership with Fundera (Nerd Wallet) to help small businesses and self-employed people who were largely left out of the 1st PPP round

COVID-19 and banking

How COVID has changed banking
- Digital banking is here to stay and traditional banks have to be prepared to handle all aspects of their business through digital channels
- COVID-19 has also been the biggest digital acquisition driver and many customers are finally embracing their digital tools, but FinTechs have re-examined ways to drive every accounting process to be more efficient and user friendly

Brand equity