On Monday March 9, Innovate Finance, the membership organization founded seven months ago to provide a network and a voice with regulators and policymakers for members of London’s thriving financial technology scene, hosts its first ever global summit at the City of London's Guildhall. It will bring together over 700 delegates, spanning the chief executives of new fintech firms, venture investors, big established banks, technology providers and government to discuss how new technology is shaping the future of the finance industry.
They will explore the biggest challenges to the sector, including reaching the unbanked, improving financial literacy, as well as the rise of alternative finance and whether new fintech models for borrowing, lending and investing money have the potential to do more than just reshape banks and can drive economic growth.
The UK has become the world leader in fintech; companies in London alone attracted more than $539 million in venture capital investment in 2014 – triple the amount raised in 2013 and more than half of all fintech investment across Europe. Fintech is driving the alternative finance sector, which will be worth nearly £4 billion in 2015 and includes crowdfunding, peer-to-peer lending and invoice trading.
Innovate Finance's global summit will showcase many of the world's leading fintech and alternative finance firms, such as Zopa, WorldRemit, Money Mover, RateSetter, TransferWise, DueDil, Nutmeg, Monitise, SyndicateRoom and Sybenetix. The organization will also announce its plans for regional expansion and a list of over 100 of the most influential women in fintech.
Over the course of the week ahead Euromoney will profile many of these firms, as well as some of the others that may become the big winners that lead the financial industry in the decades to come.
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The fintech entrepreneurs reshaping financeFirst we sat down with Claire Cockerton, founding CEO of Innovate Finance, to discuss the potential of fintech firms to reinvent a battered UK financial system, the opportunities that are attracting investors and entrepreneurs from the US and around Europe to launch new firms and new business models in London and how collaboration between members of the fintech community may speed a transformation of finance. |
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