March 29, 2018
Our Weekly NewsletterContact
Across Instinctif Partners’ Financial Services team, we are always keeping an eye on the key developments taking place across the sector to evaluate their impact on the many businesses we work with. Here we share our picks of the week’s most interesting news, and our expert views.
Are we ready for InsurTech?
More than from any other industry, leaders from the insurance sector are concerned about the sluggish pace of technological advance in their space. According to a survey, this is because there is yet to be an Amazon or Uber equivalent on the rise to revolutionise how insurance works. The big question is whether the internet of things and big data are capable of shaking up this traditional market in the not so distant future? (From Financial Times, 26 March 2018)
Uber looks to streamline payments
Uber has applied for a e-money license in the Netherlands to create Uber Payments, which it says will help streamline the payments processing from its app. As tech firms continue to push innovation further, it’s not surprising that some of them are looking to expand beyond their core offering and grab a slice of the fintech pie (From Banking Tech, 28 March 2018)
Rethinking millennial investment
The media frequently reports how millennials are struggling to make it onto the housing ladder or repay their student debt. Thus, it is perhaps forgivable to think that they would not be the first generation to be thought of when targeting investors. But the lesser-spotted millennial investor is alive and well so it seems… (From The Daily Telegraph, 24 March 2018)
Gender pay gap disclosures – a fine(s) matter?
The Equalities and Human Rights Commission (EHRC) issued a stern warning to firms that might not meet April’s deadline to publish their gender pay gap figures. Companies that do not comply could be met with large fines and face reputational damage, according to EHRC. (From The Independent, 26 March 2018)
The (Chinese) future of payments arrives in Europe
Alipay, the Chinese payments firm spun out of Alibaba, has decided to address its core users’ reticence to use different payments’ methods when travelling abroad and announced it plans to increase EU retailers’ access to Chinese spending power. (From Quartz, 27 March 2018)
AltFi London Summit
This week, the Instinctif Financial Services team was on site as PR partners of the AltFi Summit 2018 – one of the leading fintech events on the conference circuit. With this year’s event set against the backdrop of significant regulatory change in the form of PSD2 and Open Banking, the team left energised by the transformative impact it could have on the financial services landscape.
We also helped shape the event as our Partner Nick Woods moderated a session on the role of the European Investment Fund in facilitating lending to SMEs.
What was striking from this year’s event was the broader range of speakers and attendees that went beyond the immediate world of fintech and alternative finance. From Adam Afriyie MP, chair of the Fintech APPG, to Aegon Asset Management and the European Investment Fund it was clear the sector is growing up fast.
While it remains to be seen just how Open Banking will play out, it is clear interest in the sector and collaboration from the outside world is only set to continue as it becomes an increasingly mainstream influence within financial services.