Gary Schwartz

How do you explain #FinTech to a 7-year-old? Well it all starts with a bucket of Mega Bloks: quite simple, no instructions needed. You begin with deposits and then snap on savings … at some point add insurance, mortgage and investment blocks. We call these laddered services and they’re quite addictive when you’re 5 years old.

Then you get a Pirate Ship Lego Model Kit. This is your first FinTech project. It comes with 1260 cubes and shapes that you’ve never seen before and for that you need clear instructions. When you’ve built your first model and presented it, the ship sits on the mantle and is pride of place.

But soon you throw it into a Lego bucket and start your next kit: a $849.99 Imperial Star Destroyer™ and it is never finished and also ends up in the same bucket.

Finally, there are a stack of assorted random Lego pieces and one day you sit on the family rug and build yourself something which is 100% creative, pulled together from different kits. Maybe using Mega Bloks as the foundation, a few pirate remnants for the first few levels and finally kit it out with the Imperial Star Destroyer™ gun tower.

This is where we are in 2021, using embedded financial services. As Christopher Miller said, “With bucket of Lego, you can tell any story.”