There’s never been a time of greater innovation in financial services. Yet in reality the opportunity for tech to transform the mechanics of the way money moves around the world is only just being tapped into. So where are the biggest opportunities for tech to improve financial products right now and how can fintech businesses square their R&D with regulatory requirements?
Balancing innovation with regulation is a key issue in the payments industry and was a central debate with interviewees in the Finetics™ Studio at Money20/20. Here, Gail Ball, EVP and COO at The Bancorp talks about where she sees gaps for innovation in the market and why disruptors should look at the bigger picture when it comes to compliance.
“I heard a phrase the other day: ‘permissionless innovation’, which I think we should embrace more fully, while being respectful, of course,” says Ball. “We should be much less concerned about the particular trappings of regulatory interpretations and feel empowered to really push limits and innovate.”
For more insight balancing compliance and regulation with innovation, check out the Finetics blog for interviews with The Bancorp head of AML and sanctions risk Pawneet Abramowski, Manatt Phelps & Phillips Partner Barrie VanBrackle, EPA director general Tony Craddock & Hyperwallet CEO Brent Warrington.
Blockchain technology is revolutionising the way we do business allowing treasurers to really add value and commercialise business development. At the Treasury Leaders Summit, Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, has recently implemented a Blockchain PoC into the Port's organisation and supply chain.
Find out how the treasury department at Ferguson (formerly Wolseley), the world's largest trade distributor of plumbing and heating products, was faced with the challenge of building and maintaining a central treasury operation in a decentralized company, and hear about the treasurers’ approach to gaining control through visibility, enabled by the treasury management system tm5.
Get to know the treasury challenge of a post-merger integration and other hot treasury topics like FX management, bank account integration and netting at the newly merged access and security solutions provider dormakaba.
Learn how Gazprom Germania, the German subsidiary of the gas giant Gazprom, has coped with the challenge of integrating subsidiaries from different cultures into one common and transparent TMS.