More German than UK corporate treasurers think Britain should opt for ‘Brexit’ in the European Union (EU) referendum this Thursday, according to research from EuroFinance.
A survey of more than 600 global businesses by the conference organiser and research firm, an Economist Group business , finds that nearly 30% of German corporate treasurers believe Britain is better off outside the EU, compared to just 15 per cent of UK treasurers.
Perhaps less surprisingly, 26% of Swiss corporates think Britain should cut its political ties with Brussels. Despite Brexit backing from firms across certain nations, the majority of respondents (82%) are going with the status quo and backing the UK to remain.
“It is surprising to see such a healthy number of treasurers in Germany, a country hardly renowned for Euroscepticism, backing Brexit,” commented Leslie Holstrom, editor of EuroFinance.
“Despite this, our findings clearly show that the risks of leaving are simply too high for the majority of treasurers, many of whom are already seeing the unsettling effect of the referendum on their business.”
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.