Finastra Open Finance Finastra

Banking as a Service (BaaS) is set to have a significant impact on financial services. While there is no doubt that it will change the face of the industry, putting contextual banking in the hands of consumers, is it too soon to tell who the winners will be? And how can banks seize the opportunity? 

Following COP26, and with so many eco-friendly fintechs making their mark on the world, this episode looks at why it’s time for banks to join the conversation around environmental sustainability, explore cloud opportunities, and also help their customers deliver a net positive environmental impact. 

Unconscious bias in algorithms, AI and machine learning could be a significant driver for inequality. Financial services providers and technology vendors must address the problem to ensure a level playing field for everyone – when it comes to borrowing money, for example. This episode highlights why the industry must check if the biases that exist in society are being repeated through the design and deployment of these technologies, and looks at how to tackle the problem. 

 This episode continues our discussion around financial inclusion. While wealth gaps and inequality are dividers when it comes to income and financial stability, it is sometimes harder to see change when looking at these problems in developed countries. This episode explores key areas of inequality, including bias based on gender and ethnic background, and looks at how fintech can help tackle this issue. We also cover the importance of financial education for young people as a way to spark change. 

Collaboration and partnerships have long been part of the soul of many fintech companies, such as Finastra, but what are the benefits of collaboration between countries, how can these be strengthened, and what role do regulators play? 

 COVID-19 has changed the world forever, and the business sector has felt the impact acutely. Payments, funding, investment and development have all been affected. This episode will delve into the impact on the financial services sector, covering innovation and Banking-as-a-Service in the new environment.