Exploring FinTech’s role at the heart of the Financial Services ecosystem
Following our sponsorship of UK FinTech Week, we are pleased to share some key insights from our series of events exploring partnerships and collaboration.
Even before the COVID-19 pandemic hit, changing customer expectations combined with major macroeconomic forces were challenging both established players and new entrants to leverage technology in their business models, to get ahead and stay relevant. The pandemic only accelerated these trends, putting further pressure on margins and heightening the focus on digital products, services and solutions - both for customers and financial services organisations themselves. Whether you're an innovator, an investor, or a global financial services provider, we firmly believe that the right partnerships between the right players have the power to transform the industry.
Below you will find the recordings and blogs from our four FinTech Week events on partnerships and collaboration. You can also see more about the four main themes we identified coming out of the broader FinTech Week agenda.
We were delighted to chair the opening panel at UK FinTech Week, joining panelists from Barclays, Citi, Nationwide and NatWest to explore how financial services firms are responding to the demands of digital transformation. The panel talked of the challenges and opportunities presented by going digital overnight as a result of the pandemic, the new leadership challenges that this posed, and looked to a future that is purpose-driven, tech-enabled, and powered by partnerships.
Read the first in our series of blogs on the themes that were discussed, and watch the full recording below.
We firmly believe the key to the future of financial services is collaboration through partnerships. In this conference breakout we were joined by guests from Blue Fire AI, British Business Bank, Credit Kudos, Societe Generale and Yoti to explore how FinTech ecosystems can come together to create commercial success and good customer outcomes. We looked at an example of ecosystems made real - using PwC's next generation digital banking platform, Tysl - before hearing from our guest speakers about the keys to partnerships success.
Read the second in our series of blogs on the themes that were discussed, and watch the full recording below.
With continued strong growth in FinTech deal volumes and values, we expect the FinTech deals market to continue accelerating as the recovery from COVID-19 continues. Investing in FinTechs can create substantial value for both investors and FinTechs and there are a number of characteristics which have underpinned successful deals. In this FinTech Week event we were joined by representatives from OpenPayd, smartTrade Technologies and Jupiter Asset Management to explore how investors and FinTechs can work together to create sustainable growth and value.
Read the third in our series of blogs on the themes that were discussed, and watch the full recording.
Whether a FinTech just starting out or an established financial services technology provider, partnerships and collaboration are fundamental to any FinTech's ability to scale. Putting the right support around you, connecting with regional networks, and finding opportunities to collaborate - with other FinTechs, with incumbents, and even with the regulator - are just some examples of the foundations for success. In this FinTech Week event we were joined by speakers from Microsoft, InChorus, and RTGS Global to explore what's at the heart of these successful partnerships, and how FinTechs of all sizes can scale for success.
Read the fourth in our series of blogs on the themes that were discussed, and watch the full recording.
UK Financial Services Technology Leader, PwC United Kingdom
Tel: +44 (0)7711 495043