Adam Duitz, Author at Arc Ventures

Author: Adam Duitz

Adam Duitz is a Venture Analyst Intern at Arc Ventures. He joined the firm as a summer intern in 2021. Adam’s role at Arc involves conducting deep dives on prospective investments and industries. He creates thorough company memos and assists in meetings with various founders and VC managers. Adam is currently pursuing an undergraduate degree from Yeshiva University where he is studying Finance and Management. He is very involved in the entrepreneurship and Venture Capital ecosystem as a member of the VC Club and the Finance Club. He has started 2 small businesses and will be working with Maccabee Ventures this coming semester. Originally from New Rochelle, NY, Adam is passionate about fitness, NBA basketball, and Talmudic study.

With an increasing number of neo banks emerging and getting more news coverage, I thought it would be interesting to analyze the effect of FinTech companies on traditional banks. There are broadly three types of startups currently receiving a large amount of VC funding, looking to challenge traditional banks. The first kind are building robo advisors and other complimentary financial advisory tools to replace the good old (human) financial advisor. Then there are money transfer businesses such as TransferWise (now called Wise) eating into traditional banks’ high fees for such…