Earlier this month saw the launch of Innovate Finance which has been created to "accelerate the UK's leading position in the global financial services sector, by directly supporting the next era of technology-led financial services innovators." ... The government has shifted focus and has its sights firmly set on FinTech.
Starting with our own experience, we have taken meaningful steps at InterQuest, appointing three female directors to our operational management team in the last 2-years. Gender equality is at the forefront of what we do, and though we have yet to appoint a woman to our public company board of directors, the task of representation is certainly a challenge we are consciously addressing.
It's important to build time for creative thinking into communications rather than getting bogged down in bureaucracy. While creativity for creativity's sake can backfire, firms that fail to bring new ideas to the table will become less relevant. The key is devising a strategy that allows room for creative thinking, while ensuring that any ideas are clearly aligned with business goals.
Although I agree that Banks and Financial technology firms should be looking to partner and work together where possible to improve the proposition for customers, I don't necessarily believe that this strategy will make banks more innovative and provide better services for you, I and our businesses...
For many in the technology sector, one of the most discussed topics in recent months has been digital fraud and online security. This is an area in which I have a great deal of interest, as it continues to play a significant role in the demand for specialist skills in the Financial Services & Banking Sectors.
Executives must realize that the previous era of financial capitalism ended with the global crisis in 2008. Clients, asset owners, and the general public are looking for the industry to return to its core purpose of serving the greater good, providing value to society so that economies and communities' thrive.
Such is the confidence of the new lenders, however, some are now moving into the mortgage market and lending to small businesses whose access to finance has been blocked in equal measure. Some would argue that opening up the market in this way is a good thing, but there's always the danger that desperate people will be seriously exploited.
The Bank of England and HM Treasury officially launched the "Funding for Lending Scheme" (FLS) on Friday 13 July (read the announcement and details here), yet another covert operation to shore up the banks under the disguise of helping small businesses and households to access cheaper credit and thus stimulate the economy.
The moral chaos of the financial services industry is throwing up some interesting cultural findings. Among these is a recent report by corporate governance experts, Labaton Sucharow, showing that a quarter of the financial services executives they polled believed that unethical or illegal conduct might be required for professional success.