FinTech for Breakfast (40): A monthly briefing on developments in technology-driven financial services.
Held on Wednesday, April 24, 2019
Jemima Kelly (FT Alphaville)
Winston Yong (IBM)
Dom Hallas (Coadec)
I cannot pretend to be absolutely up to speed on FinTech developments – after all, that is why we started FT4B three years ago: to provide a tour d’horizon of what you really need to know, what you might have missed and what you need to watch out for. But I do note that, over the last month or so, the “anti-tech” backlash has continued, with the EU sneaking its Copyright Bill through under cover of Brexit. The result, I guess, could easily be a “European internet” cut off from the US.
I also note (just skimming some of the more obvious stories):
the Monzo/Oaknorth partnership, to give Monzo access to a high-interest savings account;
Goldman Sachs and Apple’s plan for a credit card (via Mastercard, so I don’t know how radical that is);
the FCA’s forthcoming report on P2P marketing claims;
the OneSavingsBank/Charter merger;
a hefty FT Money piece, asserting that “millennials shun traditional IFAs for apps and robots” – which sounds a bit like wishful thinking to me; and
the latest surge in Bitcoin’s price, putting it back over $5k.
And so on. My colleague, Leighton Hughes, will pull together the agenda ahead of the next FT4B meeting – but, as always, we will depend on Jemima Kelly for steering the discussion. As you know Jemima is FT Alphaville’s FinTech guru, and all-round ace reporter. But just in case she misses anything, we have two other powerful panel members:
Winston Yong is an ‘executive architect’ in IBM’s global business services practice, leading (in particular) on DLT. Although he is a CFA, his interests go beyond finance into automative and consumer goods where tech really is forcing change.
Dom Hallas is the executive director at the Coalition for a Digital Economy (Coadec) – which he joined in January 2018 after a year at DExEU. Before, he worled on innovation strategies at Bloomberg Philanthropies, and in the more distant past for Greg Mulholland MP.
There is a lot to cover – and I am sure y’all have your own views. If you (or a colleague) would like to join our group please let us know by emailing email@example.com, or by calling the Centre on 0207 621 1056. As usual, thanks to the generosity of our hosts at Dentons, there will be lots of coffee, tea and buns.