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The rise of fintech has dramatic implications across multiple areas of business and personal life. The impact of new technology on the centuries-old traditions of banking and finance goes far beyond the walls of the financial marketplace.
From disrupting established supply chains and enabling more even capital allocation, to enabling greater financial inclusion and contributing to the growth of a borderless, digital economy, its potential should not be underestimated. Much less the opportunity
As the shake out between traditional banks and fintech innovators rattles on, the first New Statesman Fintech Summit discusses some of the important questions that need to be answered as the global digital economy enters a new, pivotal phase.
As one of a handful of early global fintech clusters, and despite advancing competition from Asia and regional fintech hubs in Europe, the UK’s fintech ecosystem, and highly-respected regulatory regime, are well placed to be at the centre of the debate, and the rules and standards-setting needed to realise the true promise of fintech for the digital age:
How, and who, should police the data that is stored, shared and distributed between an ever-expanding network?
How can fintech deliver on the promise of faster, fairer, more efficient financial services?
What progress has been made in building a financial services marketplace that reflects wider trends in society – that does good and is not just good-intentioned?
And what role should the regulator play in ensuring fintech for all is not a free-for-all?
Based on four connected themes – De-centralisation, Domains, Distribution & Direction – the Fintech Summit discusses the implications of emerging technology and distributed networks on the future of the digital economy. Considering key questions of regulation and governance, access to finance and data management,the Summit debates the future of the digital financial marketplace, and the future of the UK and Europe’s role in fintech, as the centre of financial gravity shifts inexorably eastwards.
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