Students, alumni talk fintech, crypto, market turmoil at annual Financial Services Forum

A portfolio manager for Bryant’s University’s $2.6 million student-run Archway Innovation Fund (AIF) and a student entrepreneur in cryptocurrency and business development, finance major Kevin Tucker ’24 strives to be at the forefront of the next big thing. At Bryant’s 17th annual Financial Services Forum, held April 21, Tucker discussed the future of finance with some of Bryant’s most successful alumni in the field, making connections and sharing ideas on equal footing.

“So much of business is based on who you know, and part of the education we get here is making connections with alumni that open doors,” said Tucker, who helps direct AIF’s Digital Innovation Fund.

Financial Services Forum presentations included a roundtable on the future of financial technology (or “fintech”), a discussion on making the transition from college to industry, and a keystone fireside chat with Joe Fazzino ’02, vice president and deputy CIO of Raytheon Technologies on the state of the market moderated by Robert Schunder ’24, president of Bryant’s Finance Association and an AIF Equity Fund portfolio manager.

“The world is changing around us very quickly, and that change brings opportunity. We are at the forefront of helping students take advantage of these changes in finance,” said Financial Services Forum organizer Peter Nigro, Ph.D., Sarkisian Chair in Financial Services and professor of finance, who notes that today’s panels were about the same concepts and developments covered in the classroom. They gave students an ambitious view of what their careers might look like, too. “They get to see five years, 10 years, to and with 20 years, where they may be.”

The forum also hosted Archway Investment Fund’s spring report. During a special lunch, representatives from the fund’s fixed income portfolio, equity portfolio and newly formed Digital Innovation Fund gave an in-depth look at the trades they had made, the state of the portfolio and their views on the future of finance. markets. During a short question and answer session, the alumni present asked them about stock selection, portfolio strategy and how the fund worked.

Having the opportunity to make real trades with real money during a year marked by geopolitical crisis, labor market instability and a potential recession, claimed Dylan Baker ’23, offering a trial by fire that allowed students to test themselves under real-world conditions. “The times when the markets are in turmoil are the best times to learn,” thought Baker, a member of the AIF Executive Committee. “It’s not as good a learning experience when you can close your eyes, pick a stock and make 20 percent on it.”

Here are some of the most important tips from the forum:

The fintech revolution is here, and the industry is ready for new advances – and regulation
“One of the things we’ve seen a lot is how COVID really accelerated digital transformation as a business strategy. And since that period, there’s been a lot more scrutiny of how business operations needed to change,” noted Heather Gentile ’98, head of RegTech Offerings, IBM. As part of a panel on the rise of fintech, she and her fellow fintech alumni unpacked a complicated and rapidly evolving new field, examining increasingly murky regulations, a changing financial landscape hungry for new advances, and potential game-changers like artificial intelligence.

New voices and ideas, suggested Jeff Mello ’08, president and chief financial officer of Wealthbox, have fueled a fintech revolution. “It’s no longer just a question of ‘Can it do what I need it to do?’; now it’s ‘How effective can I be?'” he mused. However, moderator Nirbhay Kumar ’98 noted an eternal truth: a tool, no matter how intelligent or advanced, is useless without a purpose. “You have to understand that the technology facilitates a business function. So the technology itself is meaningless, it requires a core understanding of what that business function is.”

There is room for debate in predicting the future of cryptocurrency
Online consultant John Calabrese ’09 noted the dawning of a new era of opportunity with the rise of fintech-led innovations such as cryptocurrency and the ability to move beyond centralized financial institutions. He argued that freedom inspires more options for consumers as well as an opportunity to take back control and governance. “What drives fintech is innovation, which I think is important to all of us,” he said.

Fazzino, on the other hand, noted that there was still skepticism in many circles regarding new advances as a cryptocurrency despite the hype — a reluctance that was only exacerbated by the recent collapse of the FTX cryptocurrency exchange. “Crypto is tough,” he acknowledged. “I think the hardest part in the last run was explaining to our investment committee why we weren’t more invested in it.” But by controlling their exposure, he noted, “we didn’t get caught by FTX and end up looking like heroes.”

It pays to have a measured approach to a troubled market
The idea of ​​responsible management permeated the day. In his chat with Schunder, Fazzino discussed his role at Raytheon and shared his philosophy regarding fiduciary responsibility and how it affected Raytheon’s interactions with the current market.

“For the first time in a long time, we’re getting paid to be patient,” he said. “This is an environment with so much volatility, with the market going either way. Anyone who definitively tells you they know the markets are going one way or the other — it’s their job to have a view. But it’s my job to understand that no one is always right all the time.”

Recent Alumni Advice: Be prepared to tackle new challenges, explore new opportunities and see multiple perspectives on the road to success
A forum on financial pathways allowed Bryant alumni to share their advice on starting a career in finance, from finding mentors to making a mark early to choosing “best fit” opportunities. “Having the courage to take risks is a big part of what companies look for in new hires,” advised Caitlin (Wray) Briggs ’17, MBA ’20, senior manager of corporate reporting at Citizens. “Don’t be afraid to speak up and reach out and take on a project that you may know nothing about; try to make a difference.”