Ep 326. Fintech Insider Live at FusionONE - a new era of finance

Episode 497 · May 31st, 2019 · 43 mins 3 secs

About this Episode

We are coming to you live from FusionONE! Today we have a brilliant live show for you with our hosts Simon and Sarah, and they are of course joined by some brilliant guests!

  • Eli Rosner, Chief Product and Technology Officer, Finastra
  • Eric Boyd, Corporate Vice President, Azure AI, Microsoft
  • Andrew Smith, CTO ClearBank

Today we take a deep dive in the new era of finance and how open platforms, emerging technologies and the rise of development talent will influense the industry.

First up, our panel talks about how developers are the future of fintech. Eric Boyd marks that a lot of companies are trying to figure out how to work with these emerging technologies, but some older companies are struggling to apply these new technologies to their already existing business models. Where are we in the adaption circle of new technologies? Do we need to get some culture change in the industry? Also, as an incumbent, how do you attract talent in a quickly emerging industry?

Next up, the panel talks about Open Source and Open APIs.
Is being open and sharing technologies the way forward? Eli argues that the way to success is through growth, retention and better service to the customers. Also, what is actually the value of having a platform?

Last but not least, we discuss what the future of the industry looks like. Are the US and Europe going to catch up with the emerging technologies in China? Eric thinks that AI technology will aid industry leaders in finding better usage for the data that they already have, but will the future involve more laws around data? Andrew sees AI as a "prediction machine" and that better AI users will be better at predicting outcomes. Unfortunately, Eli's crystal ball ran out of battery this morning, but he argues that the big banks have to rethink how they are going to compete with smaller challenger banks in this new era.

All this and so much more on today's show.

Don't forget to subscribe so you never miss an episode, leave a review on iTunes and let us know your thoughts on the stories @FintechInsiders on Twitter where you can also ask the hosts questions, or email podcasts@11fs.com

This week's episode was produced by Laura Watkins and edited by Alex Woodhouse.

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