Thank you to everyone that attended FinTech and Banking: Collaboration for Disruption Event @ Huckletree in London’s tech and creative hub. It was a great opportunity to meet and share the latest developments in FinTech and Banking. Over 75 people attended the event with peers across the industry which included Banks, FinTechs and Regulators.
The speakers delivered a 140 second overview of on how their businesses have helped overcome the key business challenges in the sector, and where their solutions are disrupting traditional Financial Services.
We asked our speakers to provide their thoughts and reflections on the event which we wanted to share with you.
Daniel Meere, Managing Director, Axis Corporate
“It was great to bring together the Regulators, Fintech and Banks to discuss the challenges and opportunities facing the market. The 140 second snapshot is the reality for many startup businesses when pitching for new business. It is a great way to grab attention immediately and helps make your case more compelling. Many traditional banks are figuring out how to integrate their traditional operations with online and mobile platforms. This often means pushing beyond their traditional boundaries to quickly rebuild, digitise and diversify as never before. Banks are beginning to embrace alternative providers not as threats but as partners, spurring innovation in a rapidly changing financial world.”
Lubomir Olach, Head of International Development and Member Relations @Efma
Harry Lynn-Evans, Product Manager, Play Consulting
“We believe that innovation is rarely the creation of something brand new, and more often the bringing together of ideas, fashions and practices from one industry to another.”
James Varga, CEO and founder, The ID Co
“We live in a convenience world. A crazy world where 71% of millennials would rather go to the dentist than get a bank account. If we don’t stop and start to do things differently we could lose customers.”
Mark Summerson, Regional Vice President UK, Ireland & South Africa, Vidyo
“The Financial Services industry is transforming the way they interact with their customers and Vidyo is at the forefront of that. But we don’t operate in a silo, and a strong FinTech ecosystem working together is vital for us and the banks. The Axis Corporate event was a great format to help build out that ecosystem and I look forward to some innovative ideas coming to fruition that were kicked off at the event.”
Clive Godwin, CEO, Solvassure
“It was great to see the number of people interested in FinTech developments at the recent Axis Collaboration for Disruption event. RegTech will play a key part in disrupting the compliance world and Solvassure is at its forefront. Our cloud based and mobile technology lowers the cost of monitoring by automating key processes. With significant penalties for failure, there has never been a better time to do away with unsustainable manual solutions.”
Key Takeaways from the event
- Where banks are to remain relevant, they must work with FinTechs to achieve a common objective, transitioning to a new more collaborative way of banking with a focus on customer experience and innovation.
- Traditional banks are continuously focused on reducing costs whilst responding to increasing regulatory pressure and meeting consumer demand for new products and methods of communicating and doing business. FinTechs have proven that they can play a prominent role in delivering innovation strategy through advanced product offerings and rapid transformation of the customer experience.
- Whilst partnering with FinTechs, banks should champion a culture of transparency and collaboration. Established banks have stronger security systems, a pre-existing customer base, established delivery channels and financial expertise, along with experience navigating many of the financial regulations. Where FinTechs are looking to attract and collaborate with banks, they must focus on security concerns and provide a stable return on investment
Thank you again for your participation at the event. Your support made the event a great success! We look forward to the next opportunity to bring together the FinTech and Banking community soon.
If you were unable to make it, we look forward to seeing you at our future events. You can also tune into our Fintech and Banking Webinar planned for later this year. If you would like to register your interest in the webinar email email@example.com.
If you want to continue the conversation, Tweet us @axiscorporate or please get in touch firstname.lastname@example.org.