<b>Non-bank aid to e-finance</b>
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<b>Non-bank aid to e-finance</b>

Headline: Non-bank aid to e-finance
Source: Euromoney
Date: December 2000
Author: Britt Tunick

According to Mark Gormley, a partner with Capital Z Partners, very few venture capital firms focus on e-finance and, apart from the securities firms and banks themselves, Capital Z is the only one in Europe that deals exclusively with it.

       
Mark Gormley: systems neglected in Europe

Capital Z has primarily focused on enabling technologies and products that can be immediately utilized by the financial sector. “We don’t want to be in any business where we have to change people’s mindsets,” says Gormley. “For anything where you have to change either the consumer’s mindset or a business’s way of doing things, we’re finding the adoption rates are slow and the cash burns are high. To us, those are difficult investments to make, so what we’re looking to invest in is businesses that these big financial institutions can use to improve and help their business.”

One such company Capital Z recently backed is MPower, an electronic advisory service. In the US, the product is already the leading service of its kind for retirement advice and is sold to companies that provide it to their employees.








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