This panel was looking at why a wave of new companies have caught the attention of the financial establishment and why capital market houses are finding more and more reasons to collaborate. Panellists included a range of participants from Fintech, Banking / Banking infrastructure and Investment.
The drivers and increased benefits of collaboration discussed included the need for innovation by Banks in order to meet the cost, regulatory and return requirements of stakeholders. The panelists identified that the challenges that collaboration is focussing are driven by: regulation (eg MifFID2, CSDR, 871m) and the higher barriers to entry in Capital Markets, as compared to retail banking; parties agreeing to move faster, gaining cross product traction as compared to historical silo-based approach; and new procurement approaches. However, all agreed that the prize available, the necessity to drive down costs and gain access to greater innovation mean that this trend will continue to grow.
Kerril Burke , Meritsoft commented “once both organisations (Fintech and Bank) have identified the “win-win” and there is trust between the sponsoring organisations, then the foundations for initial and ongoing innovation collaboration are in place to drive forward fundamental change”
Panel participants were Kerril Burke, CEO and co-founder, Merit Software, John O’Hara, CEO and co-founder Tasksize, Luc Vantomme, Managing Director, Head of Innovation – Product Management, Euroclear, Steve Wager, EVP, Blockchain Product Solutions, Paxos, Asad Naqvi, Managing Director, Apis Partners