Finovate 2017 – Event Roundup
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Words by Richard Le Tocq:
“I’ve just returned from a few days in London where I attended Finovate 2017 at Old Billingsgate Market Hall on the Thames.
Digital and technology sectors are growing in Guernsey and, in the lead up to FinVention 2017 at the Guernsey Digital Greenhouse it was really interesting to check out the latest developments in the digital and FinTech space.
Some of the trends that were particularly interesting were developments around the future of banking. A number of interesting developments are emerging around Artificial Intelligence (AI), new banking interfaces and identification (including facial and fingerprint).
Many of these are being developed by small teams of entrepreneurs specialising in disruptive technology, however, some of the major banks are involved actively in developing FinTech solutions for themselves. It’s a constantly shifting landscape and very competitive!
We are all aware of the trend of machines replacing people in the workplace, however, it has historically been more common for this to be for lower skilled work.
New developments in robo advice could well mean that financial advisory jobs such as investment advisors and analysts could be done by AI. An interesting concept and something which is becoming closer and closer to reality.
One opportunity talked about throughout the event was an upcoming EU directive where all 28 EU member states will be required to meet specific standards known as Payment Services Directive 2 (PSD2). In this increasingly complex and digital world PSD2 will provide more harmonised regulation but also benefit entrepreneurs by encouraging the use of innovative digital tools. More information can be found out here.
All in all a very thought provoking event and certainly useful as we look ahead to Guernsey’s own FinVention later on this year. If you have any queries at all about Locate Guernsey, relocation or working with us, I can be reached on +44 (0)7781 134567 or at firstname.lastname@example.org.”