The 2017 World Economic Forum held in Davos, Switzerland last week, will soon become a distant memory as participants and observers jet back to their day jobs. But one of the interesting topics tackled as the seminal gathering was the emerging environment of financial innovation or Fintech.
Henry Blodget, BI Editor and moderator for the discussion, immediately noted that half (or so) of Fintech growth is occurring in Asia today.
Participants included:
- Francisco González Rodríguez Group Executive Chairman of BBVA
- Cecilia Skingsley Deputy Governor of the Riksbank (Bank of Sweden)
- Eric Jing Chief Executive of Alipay, part of Alibaba
- Dan Schulman President and CEO of PayPal
- Daniel Craig President of the Financial & Risk business division of Thomson Reuters
The entities above represent hundreds of millions of users and tens of thousands of employees. Yes, Fintech is here to stay. But the path of growth will not be a straight one as traditional and innovative finance clash or partner.
If you have about an hour, the presentation is worth watch. The digitization of finance and the ubiquity of mobile internet is a huge opportunity for financial services firms willing to change. For the ones not so inclined to adapt. Well… we know how that goes.
Watch the video on the Global Fintech Revolution below.