Post on 08-Nov-2018
the future of finance Daniel Morgan, Head of Policy and Regulation, @danmorgan1
INNOVATE FINANCE MEMBERS LANDSCAPE
Alternative Finance
o
Cyber Security
Data and Analytics
Enterprise Software
Capital Markets RegTech
Financial Inclusion and Education
Payments
Investment Solutions
Money Transfers and FX
Banking
Wealth Management
Digital Currencies and Blockchain
Telco Insurance
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GLOBAL FINTECH VC INVESTMENT 2015
U.S. $7,450m
Sweden $104m
Canada $117m
Brazil $77m
Russia $49m
Australia $111m
Singapore $64m
India $411m
Japan$60m
China$1,880m
Ireland $96m France
$71m
Germany $825m
Switzerland $31m
U.K. $901m
Israel $36m
≥ $500m
≥ $100m
≥ $50m
≥ $10m
≥ £10k
3 $12.5 billion invested over 860 deals
Thailand $33m Nigeria
$13m
South Korea $12m
New Zealand $11m
Source: Pitchbook
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Top UK deals by sector in 2015 Digital Challengers – Investment and Policy- hand in hand
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Alternative Finance & Payments- Policy Drivers
§ FCA Project Innovate
§ P2P full authorisation, Platform referrals, P2P ISA
§ Competition and Markets Authority
§ Payments System Regulator & PSD2
Digital Challenger Banks – Policy Drivers
§ Bank Start up unit – BOE + PRA fast-track licensing regime
§ Lower the minimum capital requirement for new banks
§ Policy commitment- 15 New Banks in this Parliament.
§ Payments System Regulator – Acsess to the payments system
§ CASS
195.90 175.69
126.49 114.22
73.41 59.88
51.66 38.33 33.72
10.28 9.25 5.33 3.09 1.68 0.92 0.40 0.38
Peer-to-Peer Money Transfers & FX
Challenger Banks Alternative Finance (other)
Payments Wealth Management
Capital Markets Data & Analytics
Crowdfunding Cyber Security
Financial Inclusion and Education Enterprise Software
SME Financing Other PFM
Digital Currencies & Blockchain Credit Score
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What Next Investment and Regulation
Robo Advice – Filling the gap
§ Assets under Robo Management set to grow from $20 Billion in 2015 to $450 billion in 2020.
§ Regulation of advice at both UK and European level under review.
§ A freedom of information request revealed 39 firms asked the FCA for help about setting up Robo-advice between October 2014 and August 2015.
§ Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022,Santander InnoVentures
§ Blockchain could give regulators total market overview, IOSCO chief says.
§ Distributed ledger systems: ruling via technical code
Blockchain – “RegTech Infrastructure” ?
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the future of finance
@danmorgan1