November 14, 2018
Next month, I’m heading to Fintech Connect, one of Europe’s biggest full eco-system fintech trade shows. The event, which takes place at London’s ExCel, will see major banks, insurers, capital market firms and investors meet up to discuss the latest innovations changing the face of the financial scene.
It’s fair to say that this sector is transforming as a result of new technology. Cloud, blockchain, AI and cryptocurrencies are just some of the key innovations and technologies that are disrupting the industry, creating a level of competitive intensity not previously experienced. It’s not surprising that, according to PwC last year, 77 per cent of financial institutions are increasing internal efforts to innovate. The company also stated that the majority of financial firms will increase their partnerships with fintech companies over the next 3-5 years as they embrace the disruptive nature of fintech.
In the UK, the fintech market is, without doubt, booming. In the first half of this year, the UK surpassed the US in terms of fintech investment, with $16.1bn (£12.3bn) invested in the UK’s fintech sector compared to $14.2bn in the US. UK start-ups are also attracting significant funding: in 2017, over £800m was invested in London-based fintech start-ups – double the amount that was invested in 2016.
Whilst many express concerns that Brexit will compromise London’s position as the capital of the European fintech industry, the UK’s expertise, commitment to innovation, and geographical position will all help ensure London remains a key player in the fintech scene.
At the show, I will be attending presentations and panel discussions that discuss the use of blockchain and how it will underpin the operational backbone of forward-thinking financial firms, how top global firms are successfully storing, managing and moving their data, the role of AI and machine learning in the future of regtech and compliance, and to what extent digital identity is driving a cashless society.
If you’re planning on attending the event and would be interested in meeting up to talk about your PR requirements whilst you’re there, please do get in touch.