15 May Disrupting FinTech: now it’s time for change
With SMEs and FinTech Companies in particular having been the catalyst for economic growth it is important that the new government continues this trend. We are at an exciting phase for the FinTech scene. With some speculating that this is a potential “FinTech Bubble” awaiting its bursting point and a throwback to 2001/2002, we need to ensure that whoever sits in office recognises the significance that the sector carries for long term and continued economic stability in the UK. There is a lot to be said for stability but the key is to ensure that confidence remains and entrepreneurs are backed by whoever it may be that takes the wheel.
Away from the election that has stolen the majority of headlines of late, we were proud to be official media partners at Tradetech in Paris for the annual summit of the good and great of the global equities technology space recently. Launching the first print edition of this magazine there was an honour and we were delighted to meet up with both new friends and old. The recurring theme was one of positivity. There is action throughout the industry and the rhetoric of both the buy and sell side suggested that good times lie ahead for the sector.
The conversation predictably centred on regulation with MiFID II firmly on the agenda for all of the delegates. Other central themes included dark pools, venue toxicity, security, risk mitigation, consolidation and collaboration. Whilst not necessarily the most innovative and ground breaking of topics, these subjects certainly reflect the key pain points of the industry as we enter one of the most pressurised periods of electronic trading history. The overall feeling is that the vast majority of companies in the sector are still some way from being ready for the waves of regulation that are set to hit us in the months and years ahead. This has to remain at the kernel of technology strategies. Glamorous? Probably not. Innovative? Not particularly. Essential? Absolutely.
We also heard whispers of a growing interest in managed services. With a greater access to liquidity venues and market data imperative to connectivity we have seen a growth in managed services to help solve these issues allowing companies to focus on core business rather than managing infrastructure. It is expected that the months ahead will see a raft of press releases proclaiming wins for domestic managed services.
Another interesting side note was the shift in focus on the need for speed. Following years racing for the fastest technology and the quest for zero latency there is a growing feeling that this is no longer the essential element. As the importance of data has become more and more significant, the over-arching priority has seen quality data usurp latency as the primary objective on electronic trading agendas.
Back in London the wave of technology requirements and increased investment in UK FinTech has created one of the highest levels of open job opportunities that I have seen in sixteen years working in the sector. Be it regulation, security, consolidation of legacy systems or risk mitigation through managed services, technology is firmly on the agenda and with it the need for companies to upskill with the talent to ensure delivery. Expect to see a very busy year with companies jostling to secure the best talent for their company.
This report will cover some insights from guest features:
Disrupting FinTech: Now is the time for change by Brandon Pa Zitka, Cruxy & Co.
13 Fintech Focus: Anthony Pereira, Percentile 16 Fintech Focus: Ben Brown, Capita
and many more..
See the complete report and download the PDF file here
