By FINTECH Books Contributor, Ramitha Liddington
Ten years ago, if the words ‘millennials, blockchain, Instagram’ were used, you would be forgiven for thinking it was a foreign language. The world is changing – and it’s changing fast. Outdated compliance procedures that were implemented 20 years ago are not fit for purpose in an environment that’s moving towards FinTech, RegTech and increasing Digitisation.
The trick is to drag compliance into the 21st century without compromising on regulatory requirements by leveraging regulatory focused data and organizing information so that people understand it.The human factor of managing risks cannot be ignored. Technology alone is not the panacea. Chief Compliance Officers will set the overall policies of how data will be managed. It’s not just about implementing new software and relying on algorithms to mitigate corporate risk, but it represents a change in state of mind. There is a paradigm shift towards transparency.
Embracing and adopting models that suit business needs to employ technology that encompass a myriad of new regulations and guidelines would be a step forward.Even the most ‘oak-desked’ lawyer would benefit from stepping away from paper based KYC documents and acknowledge that the gap between software and non-software enabled services has widened. Smart phones have become an extension of existence and it would be remiss not to utilise the technology that is already available to manage risks using agility, speed and integration.
Apart from environmental concerns of paper and waste that traditional compliance roles demand, there is the obvious cost factor. At the recent G20 summit in Germany, Australian Federal Treasurer, Scott Morrison announced that global financial institutions spend more than US$70 billion on compliance annually, with costs expected to approach US$120 billion by 2020. Using the right processes, controls and technology should move the ancient load of compliance procedures into a more usable and effective dimension.
If you are a startup / entrepreneur in the Fintech space and you want to grow your idea rapidly, visit FINTECHTours.com
As Fintech entrepreneurs we have first-hand experience of the many pitfalls that come with getting your idea noticed and off to a flying start. Figuring out how to promote your idea and who to promote it to are the very foundations of our service.
Finding the right kind of investors and partners doesn’t have to be elusive or frustrating.
If you’re reading this you’ve realized by now that getting in front of the right people and talking about your idea in a way that keeps them interested can be incredibly difficult.
The world is a vast space of good and bad opportunities with the best being scattered and hidden from plain view. More often than not, an almost “perfect storm” of conditions is needed to put you in a position to successfully collaborate with investors, clients and partners.
This is why we created FINTECH Tours.
A FINTECH Tour is one of the most powerful ways for you to quickly grow your Fintech network today.
The FINTECH Tour is a two-day intensive experience in the City of London—the Fintech capital of the world—where we personally chauffeur you and a handful of others on a meet and greet with the very best Fintech accelerators, incubators, investors and entrepreneurs that we’ve worked hard to find and build strong relationships with over the years.
This will not only save you months of time and energy, but it will open up doors that would otherwise be closed through our private network and brand.
After attending the two day event, anyone that is considering a startup in FinTech or you are wanting to expand your Fintech business to Europe, you need to attend the London Fintech Tours. What you will gain in knowledge, resources and connections for your Fintech business will not be matched anywhere. London is truly the Fintech Hub of the world.”
Lawrence Schmid, CMO Nudipay
Check out the 2 day Agenda and register for the next tours on the 15/16 Sept 2016 here.
Congrats to all Authors of The FINTECH Book – which has been selected as “hottest new release” among the Finance books at Amazon!
End of March we celebrate the Global Book Launch Event in London, at the Shard with 150 fintech entrepreneurs, investors, bankers, fintech thought leaders and the press – enjoy the launch video where our Authors explain why Fintech will change the World!
Then we took The FINTECH Book on Tour:
20 April 2016: Book Launch in Germany at the Frankfurt Stock Exchange – again it was a great event with enormous buzz by our German fintech community!
30 May 2016: Book Launch in Hong Kong at CyberPort during the Finnovasia Conference – Fintech in Asia is booming and it was great to meet so many fantastic fintech founders & fintech enthusiasts there!
8 June 2016: Book Launch in Switzerland at the F10 Incubator celebrating with the Swiss Fintech Community, startups and innovators at large banks/financial services firms and media!
So which Country will be next? We will announce it here – so stay tuned and we hope you can join us in one of our global events.
The FINTECH Book is available on Amazon and in the best Bookshops.
Join FINTECH Circle at London TECH Week next Month:
Monday, 20 June:
TLA Women in Tech Event at the London Stock Exchange – We will moderate a fantastic panel of female entrepreneurs and investors – for more info, click here.
FINTECH Circle Angel Network – Our flagship event where our top fintech startups present to our group of Angel Investors – for more info, click here.
EuroMoney BlockChain Forum – We will moderate Blockchain Investor Panel – for more info, pls click here.
Looking forward to celebrate London Tech Week with all of you!
What an unforgettable moment when our global fintech entrepreneurs, investors & visionaries arrived in London to meet for the global book signing afternoon and could see their FINTECH Book for the 1st time! It all started out with an idea between Janos Barberis and I more than a year ago and now our dream became reality and we were able to hold The FINTECH Book (published by Wiley in April 2016) in our hands!
As the FINTECH Book is the first crowd-sourced book on the global fintech sector, the 1st stop for our Global Authors was Book Signing of 200 Copies for our evening Guests & all Contributors!
In parallel some of our Authors were interviewed by the video crew – interviews will be made available on our website from mid April 2016.
Then our Authors Workshop started where each Author provided a short introduction and many global fintech friendships were made:
At 6pm our 120+ guests arrived and the atmosphere was fantastic – so much FINTECH Buzz and excitement connecting us all.
A big thank you to our great sponsors – Warwick Business School (WBS), The Just Loans Group PLC and IBM and for great keynotes by Markos Zachariadis, John Davies and Paolo Sironi:
Finally Thomas Hyrkiel, our Publisher at Wiley surprised us with wonderful news – The FINTECH Book is on its way to become a global Bestseller with pre-orders of more than 2,500 copies!!
To hold the global Fintech Ecosystem in your hands, you can pre-order The FINTECH Book also on Amazon here (Amazon currently offers special pre-release price). Don’t forget to leave a review – we have special surprises prepared for the first 100 reviewers!!
To follow updates on The FINTECH Book, please visit our Twitter account.
Best wishes, Susanne
CEO & Founder @FINTECHCircle
Linked In: FINTECH Circle Group
It all started with our own wish to buy a book on the booming fintech industry to understand the global trends, sub-sectors, technologies, players, fintech hubs etc. But no book exists, so we created one – reaching out to 160 fintech experts in 27 countries who all submitted proposals for The FINTECH Book, the 1st globally crowd-sourced book on the fintech industry. It will be published in March 2016 and you can secure your copy now.
A front-line industry insider’s look at the financial technology explosion
The FINTECH Book is your primary guide to the financial technology revolution, and the disruption, innovation and opportunity therein. Written by prominent thought leaders in the global fintech investment space, this book aggregates diverse industry expertise into a single informative volume to provide entrepreneurs and investors with the answers they need to capitalize on this lucrative market. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned.
The financial technology sector is booming, and entrepreneurs, consultants, investors and asset managers are scrambling for more information: Who are the key players? What’s driving the explosive growth? What are the risks? This book collates insights, knowledge and guidance from industry experts to provide the answers to these questions and more.
- Get up to speed on the latest industry developments
- Grasp the market dynamics of the ‘fintech revolution’
- Realize the sector’s potential and impact on related industries
- Gain expert insight on investment and entrepreneurial opportunities
The book will be published by WILEY in March 2016 and can be ordered here.
In an increasingly crowded #fintech space that is now global in scope, it can be difficult to stay on top of these topics and the thought leaders that are influencing the discussion. While the information flow is akin to drinking from a firehose, there is little doubt that social networks made up of individual thought leaders and influencers are among the most efficient and effective ways to stay informed about important developments in many industries.
In Dec 2015 a list of top 100 fintech influencers was prepared, to get your complete list pls click here. Really excited to see our founder & CEO Susanne Chishti, to be part of the top 100 FINTECH Influencers.