FINTECH Insights.

What has begun with a whitepaper in November 2008 from a unknown circle of crypto nerds has become today a hot topic that is discussed not only by the people from the street but also by global business leaders.

Ignoring automation is a dangerous game. Banks ignoring the advantages of these technologies will be swallowed up by the world transforming around them.

The idea of using crowd sourcing in order to improve service and product ratings has become main stream. Companies like TripAdvisor and Yelp have become extremely popular.

I’ve learned over those years to always take a deep breath and look beyond the hyperbole and make sure we understand how the implementation of new technology will affect a market sector.

The Canton of Zug provides excellent conditions for everyone! With a dense network of services, suppliers and private support organizations, a unique mix of local and international companies, ample investment in education and culture, attractive tax levels for legal entities and individuals, and the availability of both an efficient infrastructure and a fascinating living environment, the Canton of Zug offers an optimal overall package.

What lies on the horizon for using social media in the insurance industry? We see one of the biggest opportunities in the area of small business insurance.

By capturing location, demographic and social data you can propose a personalised customer experience.

While a new inquiry by the Treasury Select Committee into the issue of SME finance, and the Business Committee’s inquiry into the relationship between large firms and SMEs is welcomed, more needs to be done.

API’s are enabling system architects to develop platforms using best of breed components. The opportunity to modernize legacy systems through this approach is immense.

Putting your product into a GDPR-shaped box for example will undoubtedly resonate with the market. However, as you scale, this dangerously risks the ground in which you can play.

If I have to find just a few words that best describe me, I would use dreamer, doer and challenge lover. I have always undertaken inspiring opportunities that have often led me to move city, country or even continent in search of a new challenge.

I love exploring parallels of innovation in disparately different industries.  What’s happening in the arts that applies to the financial sector?  What is NASA doing that applies to the entertainment industry.

Collaboration between Insurtech startups and incumbents is gaining momentum, as it is a win-win solution able to generate benefits for both parties.

However, as fintech-type companies become a part of the system,regulators must then find ways to effectively fulfil their mandate.

RegTech should not constrain its development within financial sector, applications in other sectors are worthwhile.

How will technology, including AI, APIs, Blockchain etc allow Private Banks to reimagine their business models?

While the brokerage space has evolved a lot in recent years and investors now have range of good choices (especially if you’re US based), choosing ‘the one’ is still not easy even for experienced investors.

The growth picture is strong with realised annual rates of +50% and an expectation of a market size of 16 trillion dollars by 2025 according to Financial Times.