Talk about a hangover. The world’s got $247 trillion of debt hanging over its collective head.
If there’s a broken link anywhere along the chain of global connection, or if a big debt can’t be serviced, or rolled over, or there’s a default, there’s one thing I know for sure… Contagion will be swift, and stocks will throw up their gains quickly.
Don’t look now, but we’re getting to a breaking point thanks to escalating trade wars, emerging markets debts that have to be rolled over this year, and the fact that China’s stock market is already in the tank.
It’s like déjà vu all over again.
Alex Kutsishin is one of the reasons why I’m so excited about the rapidly emerging field of finance technology.
Called “fintech” for short, this is an area that will touch virtually every aspect of the $70 trillion global economy over the next several years.
Here’s what I mean…
By definition, every single transaction involves some sort of payment. Increasingly, those payments are moving to digital systems – and eventually virtually all of them will get there.
And that means every aspect of finance today – from hedge funds to bond management to buying a pack of gum at your corner market – is ripe for tech disruption.
That innovation is coming from savvy entrepreneurs like Alex Kutsishin, the CEO and founder of fintech startup Sales Boomerang, which focuses on helping banks plug billions in home loan leaks.
I recently spent a couple hours talking with Kutsishin on a flight home from Money Map Press headquarters in Baltimore to Silicon Valley.
I had intended to tune out my fellow passengers and listen to some music while catching up on work. But after introducing ourselves, Kutsishin couldn’t help but explain further exactly what he did.
I found his spiel so fascinating – and potentially lucrative – that I put my headphones down… leaned in… and listened.
Today I’ll introduce Kutsishin and Sales Boomerang to you folks.
Unfortunately, his company is privately held and you can’t invest in it… yet.
But I have found a great way you can play the red-hot fintech trend.