Key figures from the fintech industry will gather to address parliament this month to discuss the future of the industry with MPs.
The event, entitled The Future of Fintech is organized by the Parliament Street think tank and chaired by former business minister Dean Russell MP and will take place on 20th March 2023.
The expert panel includes Fraser Stewart, founder of life-planning platform Lyfeguard, Khalid Talukder, co-founder of FX company DKK Partners, Neh Thaker, co-Founder of SME financial toolkit HedgeFlows and Jay Patel, Head of Product Management at regtech specialist Encompass Corporation.
Hot topics under discussion will include how fintech can transform the banking and financial services industry, strengthen consumer rights, and improve banking access for small and medium sized companies.
Fraser Stewart, co-founder, Lyfeguard said: “The fintech industry is set to play a critical role in empowering businesses, banks and consumers to get access to the data they need for decision-making. It’s exciting to be part of a debate that brings together so many providers and specialists to discuss the future of our industry.”
Editor’s Take On How Fintech Can Transform Banking And Financial Services.
Looking at the future of banking and financial services, the world is evolving rapidly, and with it, so are our financial needs. Fintech has been a game-changer in how we manage our money today, but what does the future hold?
Fintech is an industry composed of companies that use technology to make financial services more efficient. By automating and streamlining processes, Fintech companies are able to provide faster and cheaper services than traditional financial institutions.
The advent of digital banking and mobile payment apps has made it easier than ever for consumers to manage their finances on the go. And as more and more people adopt these technologies, the demand for traditional banking services is likely to decline.
In response to this threat, many banks and financial institutions are turning to Fintech to help them remain competitive. By partnering with Fintech companies, they can offer their customers the same convenience and accessibility that they’ve come to expect from the likes of PayPal and Venmo.
What’s more, by harnessing the power of data analytics, Fintech can also help banks identify new opportunities for growth and expansion. By understanding their customers’ needs and preferences better, they can offer products and services that are tailored specifically to them.
In short, Fintech has the potential to transform banking and financial services in a number of ways. And as the industry continues to evolve, we can expect even more innovations that will make our lives easier – and our finances more manageable.
The future of financial technology appears to be a bright one and it is likely that advances in this area will continue to shape the banking and financial services industry over the next few years. We have seen how Fintech has already revolutionized consumer banking, providing easier access to services, greater convenience for customers as well as increased security and transparency. With ever-evolving technology trends at hand, we can expect even more advancements in areas such as digital payments, blockchain integration and artificial intelligence in 2023 and beyond.
Financial institutions should embrace these changes wholeheartedly so they can keep up with customer demands and remain competitive in the ever-shifting world of finance.
About the Parliament Street think tank
Parliament Street is an innovative young think tank dedicated to creating a community of ideas. The think tank aims at all times to give all members a high return on involvement through participation.
The Debate will take place on 20th March 2023. Click here to join the summit.