The financial services sector has seen a rapid influx of start-up companies emerge in the last decade, each focused around a specific set of problems or inefficiencies. From peer-to-peer lending and small payments to cloud-based security and automated fraud detection, each budding company has identified a specific niche within financial services, and leveraged new technology to tackle an issue that has previously gone unnoticed or unsolved by incumbent institutions. With the number of market entrants peaking in 2014, those fintechs that are still standing have by now developed solid products and services within their niche.
Simultaneously, the regulatory approach to fintechs has been confused. On one hand, some developments – open banking, for example, and the payment services directives – have encouraged healthy competition between a variety of new entrants, all with different technological capabilities and operating on different platforms. On the other, the regulations by which fintechs must abide in order to expand beyond their existing niche have become increasingly stringent, driven by regulators’ need to keep the UK’s banking system and its users as secure as possible.
The FT and Microsoft are delighted to facilitate this exclusive roundtable lunch for industry leaders and innovators to discuss what’s next for fintechs. Join us in tackling the ultimate question that all fintechs face: is it possible to grow, without losing the innovation, agility and responsiveness that made the company stand out in the first place?