34 episodes

The New Face of Finance, Where Finance Finds Its Future. Future of Finance has one overriding goal. It is to host meetings (at the moment virtual meetings) that bring together long established members of the financial services industry (banks, brokers, asset managers, insurers, financial market infrastructures) with entrepreneurs (challenger banks, technology companies and FinTechs) and market authorities (central banks, regulators and policymakers) to explore how the financial services industry can grow faster by being more open, more innovative and more trustworthy. If you would like to get in touch about featuring on a podcast, please email wendy.gallagher@futureoffinance.biz
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Where Finance Finds Its Future Future of Finance

    • Business

The New Face of Finance, Where Finance Finds Its Future. Future of Finance has one overriding goal. It is to host meetings (at the moment virtual meetings) that bring together long established members of the financial services industry (banks, brokers, asset managers, insurers, financial market infrastructures) with entrepreneurs (challenger banks, technology companies and FinTechs) and market authorities (central banks, regulators and policymakers) to explore how the financial services industry can grow faster by being more open, more innovative and more trustworthy. If you would like to get in touch about featuring on a podcast, please email wendy.gallagher@futureoffinance.biz
See acast.com/privacy for privacy and opt-out information.

    Wealth Wizards shows wealth managers how to digitise financial advice

    Wealth Wizards shows wealth managers how to digitise financial advice

    The wealth management industry is under pressure. Profitability depends on scale, and in the United Kingdom there are more than 27,000 firms vying to advise clients on the management of their savings, from independents with a handful of clients to the wealth management arms of global asset managers and private banks. Clients are increasingly demanding, forcing their wealth managers to invest in technology to provide digital interfaces and reporting. They are also more sensitive to cost, and likely to opt for less lucrative passive investment strategies offered by the likes of Vanguard than the expensive active alternative. New entrants such as Monzo and Revolut are tempting investors with free brokerage, while platforms are also offering simpler and cheaper alternatives. Yet there is widespread recognition of the value of well-informed advice, especially if it can be provided at a reasonable price. The answer to the conundrum obviously lies in technology. Which is where Wealth Wizards comes in. The firm, acquired recently by Royal London, enables wealth managers in the United Kingdom to offer financial advice to clients in a purely digital form, making it affordable and accessible to a much wider range of investors. Dominic Hobson, co-founder of Future of Finance, spoke to Simon Binney, Business Development Director at Wealth Wizards.
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    • 51 min
    For Regulators Covid-19 is Just a Rehearsal for Resilience

    For Regulators Covid-19 is Just a Rehearsal for Resilience

    Covid-19 put the operational flexibility of the financial services industry to the ultimate test: could the business continue when nobody was in the office? The answer so far is an encouraging one, but the global pandemic also coincided with a consultation by the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England on new measures to further enhance the operational resilience of the financial services industry. Dominic Hobson asked Chris Freeman, a former head of operations at Aviva Investors, Nomura Asset Management and Royal London now consulting on operational issues, what the biggest operational risks now are.
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    • 29 min
    Blockchain hits warp speed with "enterprise" version

    Blockchain hits warp speed with "enterprise" version

    As Blockchain makes its way out of the Trough of Disillusionment up the Slope of Enlightenment (© Gartner Hype Cycle) cynics forget it offered a valuable innovation: networks in which every participant sees exactly what every other participant sees. In any market where value is exchanged, everything that happens post-trade aims to reach that same point, by a laborious process of repeated reconciliation to identify errors followed by exception processing to correct them. Now "enterprise" blockchain is promising to fix those broken information exchanges. Dominic Hobson asked Yves Guillaume Messy, a Blockchain and venture capital mentor, to tell us more about it.
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    • 8 min
    Effective RegTech is about data not technology

    Effective RegTech is about data not technology

    It is not surprising that RegTech attracted so much money and so many entrepreneurs as the Fintech start-up boom took off from 2012. Banks, asset managers and insurers were hit by successive waves of regulation in the long aftermath of the great financial crisis of 2007-08, and automation of transaction monitoring and reporting, KYC, AML, CFT and sanctions screening checks, data protection, mis-selling risk, cyber-security and even operational resilience was an easy sell. A future in which regulators were just another node on a blockchain network which hosted everything they needed to know seems more distant today than it did in 2017-18, and the RegTech sector is now consolidating. But as Rupert Brown, CTO at regulatory advisers Evidology tells Dominic Hobson, the hard work of mapping and then standardising regulatory events and data flows is now beginning.
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    • 32 min
    The global pandemic has left no aspect of life untouched, and FinTech investing is no exception

    The global pandemic has left no aspect of life untouched, and FinTech investing is no exception

    The global pandemic has left no aspect of life untouched, and FinTech investing is no exception. Jan Arp, founding managing partner at Montreal-based Holt Accelerator, the leading early stage FinTech investor in Canada, told Dominic Hobson, co-founder of Future of Finance, that although the pandemic has reduced appetite for early-stage risk, investors have not lost their enthusiasm for the sector. The health crisis is accelerating the digitisation of financial services, and interest in fraud-busting cyber-security technologies that can protect financial institutions from compliance risk as well as crime. Interest in start-ups aiming to transform insurance is also rising. But Canadian FinTechs would like to see the local Open Banking initiative regain momentum.
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    • 12 min
    If you think the Internet is useful, just wait till you can use the Datanet

    If you think the Internet is useful, just wait till you can use the Datanet

    What would happen if we could identify and find and grant access to individual bits of data on the Internet as easily as we can reach people and companies through their internet addresses? What would happen if machine learning algorithms could be trained on data sets wherever they were? And what if we could do both these things without breaching privacy or confidentiality? We would have the power to create digital marketplaces in virtually anything, enable governments, companies and people to work off the same set of data with sharing the raw data, speed up and cut the cost of production processes and supply chains, empower everyone to control and get paid for their personal data without having to share it with anyone, and not only accelerate the adoption of data standards but make it much easier to translate between them. In short, we would have a new application of the Internet: the Datanet. Dominic Hobson asked Philip Treleaven, Professor and Director of the UK Financial Computing Centre at University College, London, how close we are to the Datanet.
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    • 41 min

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