The FinTech Revolution
With it being a year since the Open Banking initiative was launched and 18 months since I immersed myself in the world of FinTech, I thought I’d give a few of my thoughts. It’s been a year of huge growth for FinTech Start-Ups utilising the Open Banking model. Being at the heart of this and partnering with a number of them has been brilliant. I think, technologically speaking, the traditional Banking industry has been in the Dark Ages for a long time and what Open Banking will create is a more customer focussed, technologically advanced approach from all. What is for certain is we are in the midst of a FinTech revolution, with 63% of FinTechs not even in existence 10 years ago. I think we will see an acceleration of this over the next 5 years, especially with the introduction of AI to Finance. I’ll be attending an Unthink tank talk on AI and the future of FinTech given by Pete Trainor (Chair of the AI Think Tank as part of the British Interactive Media Association) at the end