Category Archives: FinTech

The Future of Insurance: 15 predictions for 2017

  Editor’s note: This is an excerpt from Matthew Griffin’s upcoming paper The Future of Insurance 2020 & Beyond. It is clear from the developments and progress made in 2016 though that the industry’s appetite, pace, and propensity for change, albeit partially fuelled by an increasingly competitive and dynamic marketplace, is accelerating. It’s unlikely that ...

Going Back to the Garage: the rise of the Fintech intrapreneur

I recently attended a Fintech Meetup event involving 400 people present to hear the CEO of one of Australia’s four biggest banks speak about his innovation strategy. Unsurprisingly, it was to embrace innovation through technology and to create a people first culture. Interestingly, the people involved in organizing, hosting and even attending the event, seemed ...

Innovations in Fintech

Technology automation tends to have two phases: In the first phase, automation replaces human decision-making and process with an inflexible set of rules, often creating new problems even as it solves old ones, and shutting out those who may be outliers or may be “exceptions to the rule.” But the next phase is where the innovation really kicks in, and this is when that automation becomes intelligent, data-rich, and capable of actually making rational decisions that improve and enhance the level of customer service, and open up new opportunities for the business that could not have existed previously.

Innovation for Financial Services

Innovation for financial services is to a large degree around using technology to disrupt various business model components. The focus is on achieving economies of scale, increasing efficiency, and facilitating peer-to-peer in-teraction. Different stakeholders play different roles in the FinTech ecosystem. There is a trend toward better ser-vicing customer needs relying on omnichannel experiences. Regulators should be seen as a friend rather than an enemy. But most important, the future starts now, and can only be approached with sound change management capabilities.