Fintech

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Last quote about Fintech

Michael Schlein - Accion
If you can use alternative sources of data to make the 3 billion of people who are invisible, become visible, that could change the world.
Mar 06 2017
Mark Carney, Simon Kirby, Raj Ganguly and Haruhiko Kuroda, are the people who have been quoted the greatest number of times about Fintech. You can find them on this page and an additional total of 74 people who have something to say about this topic. All the 95 quotes on this page are sorted by date and by name. You can also have access to the articles to get the context of the quotes. The most recent quote from Mark Carney is: “The challenge for policymakers is to ensure that fintech develops in a way that maximizes the opportunities and minimizes the risks for society. After all, the history of financial innovation is littered with examples that led to early booms, growing unintended consequences, and eventual busts.”.
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Takeshi Hirano

We've followed OpenGamma's transformation from an innovator in the development of open source software into an important risk analytics provider for institutional finance.

Mark Carney - Bank of England

The challenge for policymakers is to ensure that fintech develops in a way that maximizes the opportunities and minimizes the risks for society. After all, the history of financial innovation is littered with examples that led to early booms, growing unintended consequences, and eventual busts.

David Sica

The market is sobering up and looking for high-quality metrics. The first wave of fintech was very much about building standalone large brands. We are now in an environment where the existing financial institutions and incumbent players are looking for ways to partner with startups.

Warren Mead

The combination is a powerful one: leading-edge technology with global reach and a significant physical footprint. Innovation and trust in one bundle. I expect to see the ever increasing convergence of fintech and the more traditional financial services sector.

Yew Kiat

Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China Fintech to a new level of competitiveness.

Shawn Rose

It's accelerating, that competitive fear. We don't want to lose a day. It's critical. The people we hire, they need a place to establish these routines.

Dave McKay - Royal Bank of Canada

A couple of years ago more than 80 percent of our spend was on running the bank, maintaining our old legacy systems. Our goal is to get down to at least 60 percent and we're over halfway on that. We've been able to shift a huge amount of spend - over hundreds of millions of dollars - into growth and development.

Jens Weidmann - Deutsche Bundesbank

Getting a clearer picture of fintechs' business activities is essential if we are to better understand whether and in what way they might pose a threat to financial stability. Many believe the most disruptive potential is to be found in blockchain or distributed ledger technology, which promises to allow payment transactions and securities settlement to bypass banks and central counterparties altogether.

Alasdair Macleod

We are already seeing growing demand from Muslim-majority countries, and take the view that being Shariah-compliant will considerably raise our profile in this important market.

Robin Lee

Promoting competition is key as fintechs are likely to target under-served consumers and the unbanked and to drive cost to consumers down.

Ralph Hamers

Banks can learn from the fintechs; fintechs need the clients of the banks and the capital from the banks and the regulatory knowledge from the banks: and in the end it's the client that wins.

Ralph Hamers

Banks will survive but banks will need to consolidate in order to find room to invest in digital.

Joe Schoendorf

If I was going to pick a company that was in that five list, one of those is going to be in fintech. It's going to have figured out how it all comes together. We are going to be sitting here with a multi-billion dollar valuation company in that space.

Rebecca Porter - Northwestern Mutual

We want to continue that momentum and continue to invest in startup companies. We are looking for innovative companies that are going to address clients' need in a new way.

James Meekings - Funding Circle

We are a fintech business and we are all about delivering a world class service to businesses and investors and to make sure we have the best product we imagine. We wanted to raise more funds to invest in our technology.

Johan Van Overtveldt

London is the financial sector of Europe – there's a lot of infrastructure..., there's a huge talent pool that is there, there's the capital availability that is there, so of course even with Brexit, that won't go away just like that. It's an important change but we should not underestimate the resilience of London as a financial (and fintech) center.

Joop Wijn - ABN AMRO

ABN AMRO Corporate Banking is in good shape and well positioned for continued growth. After eight great years, I am now ready for a new challenge. I would like to thank all my colleagues; it's been a pleasure working with them and I wish ABN AMRO every success in the future.

Caleb Silver - Investopedia

Trump's legacy is yet to be determined, but his impact on investing and economic policy is unmistakable. Throughout 2016, users have flocked to terms related to Donald Trump and some of his proposed policies. This year's list of terms is a window into the topics that will drive investment strategies in 2017.

Scott Kessler - S&P Capital IQ

On Wednesday Ant Financial was growing in a thriving financial technology - fintech - environment and an IPO would also benefit parent company Alibaba . They already partake in some of the profits from Ant Financial, and really have the ability to take a very significant stake upon the confirmation of an IPO. We expect (current CEO) Marissa Mayer to exit the company.

Rene Griemens - Kreditech

We are already evaluating potential strategic cooperation in many areas, including payments, financing and potentially, at a later stage point of sale financing.

Michael Garrity - Financeit

Part of our growth plan is to consolidate the industry. We're aiming to build a multi-billion dollar company, focused on something the banks aren't very good at. Where banks are playing in that space today, we are active buyers in those divisions.

Michael Garrity - Financeit

That whole transaction happens in under five minutes in a driveway on a mobile device.

Haruhiko Kuroda - Bank of Japan

We don't have to sacrifice consumer confidence and security because if they go down... it would hamper the long-term development of fintech.

Haruhiko Kuroda - Bank of Japan

Thus, financial authorities are facing new challenges in terms of obtaining information and maintaining financial stability.

Lael Brainard - Federal Reserve System

There are more serious and lasting consequences for a consumer who gets, for instance, an unsustainable loan on his or her smartphone than for a consumer who downloads the wrong movie or listens to a bad podcast.

Lael Brainard - Federal Reserve System

Run fast and break things' may be a popular mantra in the technology space. It is ill-suited to an arena that depends on trust and confidence.

Stephane Loiseau

The landscape for investment insight is changing. The situation is especially challenging in Asia which is a fragmented region with a vast scope of stocks, and in some markets new regulation is making the picture even more complex.

Mark Pumfrey - Liquidnet

It was always our intention to create an all-to-all platform to create a critical mass of liquidity. Most of the sellside interest is coming from regional banks that perhaps don't have the global client networks, but if the big dealers want best execution they have to engage with electronic platforms.

James Clark

Last year, London played host to the IPO of fintech company Worldpay, the largest tech IPO globally with a deal size of $4 billion and Sophos, valued at $1.6 billion, the world's largest cybersecurity IPO of the year. This demonstrates the U.K.'s and Europe's ability to grow and nurture tech companies.

James Clark

The activities of the big US companies often grab the headlines but 2015 was a breakout year for U.K. tech IPOs. Last year, London played host to the IPO of fintech company Worldpay, the largest tech IPO globally with a deal size of $4 billion and Sophos, valued at $1.6 billion, the world's largest cybersecurity IPO of the year. This demonstrates the U.K.'s and Europe's ability to grow and nurture tech companies.

Mauricio Minas

We are venturing into the use of algorithms and beefing up our mobile platforms as a way to make our product more appealing to millennials.

Ravi Menon - Frost & Sullivan

This project marks the first step in MAS's exploration of ways to harness the potential of central bank-issued digital currency. The next phase of the project will involve transactions in foreign currency, possibly with the support of another central bank.

Simon Kirby

I agree they have a huge pool of talent, and it's good to have something like that so we can take some talent out.

Simon Kirby

It's fair to say competition is good. What businesses want is more of a parity between regulation so that they can move easily from one country to another… (and access to) customers.

Simon Kirby

We are listening very carefully to fintech businesses' concerns about access to capital, access to high-skilled labor and also their concerns about Brexit.

Sopnendu Mohanty

First thing after Brexit happened, we talked about talent - talent coming out of the UK.

Ravi Menon - Frost & Sullivan

Under the pilot system banks will deposit cash as collateral with the MAS in exchange for MAS-issued digital currency.

Wim Mijs

We should move from entity-based rules to activity-based rules.

Elke Koenig

If you think payment services by banks need to be strictly regulated, then you also need similar measures for those who provide payment services without a banking licence.

Norman Chan

So far, two banks have already made use of the sandbox to conduct private trials of their biometric authentication in securities trading services. A few banks are discussing with us and planning to make use of the sandbox for areas such as blockchain, artificial intelligence (AI), and many more.

Tharman Shanmugaratnam - Monetary Authority of Singapore

MAS is looking to significantly simplify and shorten the authorisation process for new VC managers. Further, to the extent that there are contractual safeguards to provide sufficient protection to a VC's sophisticated investor base, MAS is also looking to exempt VC managers from business conduct requirements that are currently applied to asset managers in general.

Ueli Maurer - Swiss Finance

We assume that with the steps we have prepared and the commitment we have to the overall financial services industry, we can provide a solution that puts us among the top (countries) in the world that regulate this.

Bruce Davis

I know that other businesses that are trying to do that as well have found the responses from the local jurisdictions have become tortoise like. We are at the bottom of the pile. An FCA request now will not be treated at the same speed as it was before, you can definitely see that as an impact from now.

Chris Larsen - Ripple

I have been in fintech for 20 years and I am kind of looking forward to not having the day-to-day responsibility the CEO takes. I am trying to get the right balance between Ripple and spending time with my two young boys. But I couldn't be more happy for Brad, about where we are and how Brad has gotten us here, and what he would be able to do for us going forward.

Rod Simms

I think we need to, as an organisation, take a really close look at these things. This means making a forward-looking judgment.

Rod Simms

Will these things be disruptive in the future? They may be small now. What can they unlock in the future? Apple Pay is a very complex matter. You can look at it is in a sense someone challenging the banks. And you can look at it as the biggest company in the world keeping something exclusive to itself. We are working our way through that.

Ken Rees

We don't believe fintech public market comps have recovered sufficiently. We'll wait longer for traction.

David Blumberg

A lot of fintech is now focused on helping individuals level the playing field so they can take advantage of services wealthy people or businesses have had for decades.

Thomas Schneider - Brickvest

If it wants to become the leader in fintech then these are the steps it needs to take, otherwise it will get a few companies but it will not become the hub.

Gabriel Ferreira

We're looking for startups that have passed the validation and product development stage and need capital to scale up and gain traction in the market.

Thana Thienachariya

Siam Commercial Bank is excited to take a pioneering role in investing and piloting money transfers through Ripple's network. Our participation makes SCB the first Thai commercial bank to move forward with remittance and other use cases with blockchain. Our due diligence was conducted by Digital Ventures, the investment and innovation arm of SCB, reaffirming our commitment to cultivating a solid fintech ecosystem for Thailand.

Thana Thienachariya

"Siam Commercial Bank is excited to take a pioneering role in investing and piloting money transfers through Ripple's network". "Our participation makes SCB the first Thai commercial bank to move forward with remittance and other use cases with blockchain. Our due diligence was conducted by Digital Ventures, the investment and innovation arm of SCB, reaffirming our commitment to cultivating a solid fintech ecosystem for Thailand".

John Flint - HSBC

There's mutual respect on both sides. If you look at smaller fintech firms, you can see that banks are partnering with them and that benefits both stakeholders' needs.

Lawrence Wintermeyer

If you're looking for scale in LatAm, we want to connect you directly to the Sao Paulo hub. We're hoping to really be able to accelerate the connection of fintechs (start-ups) and institutions to the source of knowledge.

Hubertus Väth

Fintechs play an increasingly critical role in the finance industry and therefore, their advancement is of the utmost importance.

Fabian Vandenreydt

It's a group of equals. It's a group of people that globally support innovation for the benefit of the banks and the start-ups.

Sylwester Janik - MCI Capital

Following the result of the UK referendum, many might perceive investing in fintech as a risk.

Philip Hammond

The newly established FinTech bridge between the UK and the Republic of Korea is an important step for one of this country's most exciting industries. The government is determined to help the UK FinTech sector to innovate and grow and to ensure that Britain remains the location of choice for FinTech start-ups.

Yim Jong-yong

Although Korea is a relative newcomer to FinTech, we have been focusing on developing a regulatory environment that supports rapid growth of the sector. The FinTech Bridge with the UK, which is a pioneer of the industry, will enable Korea to more easily identify and adopt regulatory best practice. It is another step in strengthening the strong financial relationship between Korea and the UK.

Markus Gnirck

Given the maturity of fintech markets in Europe and the U.S., it's a natural next step for a company to look out for new opportunities to expand into.

Mark McDermott

I think London has a heavy fintech and AI [artificial intelligence] bias right now, which is flourishing, but a tad narrow.

Barry Freeman - Jimubox

I spent time and money and hired a couple of people to explore this and ended up having to kill it because it didn't make sense from a commercial standpoint, purely around the account opening process.

Laura M. Cha

This is an area of development that is a very key element of the financial industry that we cannot ignore.

Derek Meilman - Hogan Lovells

My view is that the most obvious implications of a Brexit, the issues that most obviously become exacerbated, would be the question of the free movement of labor and also trade implications – import and export law – what does that look like?

Philippe Gelis - Kantox

The negotiation period will last at least one year but more probable a couple of years. We will have time to adapt and then to say to restructure or reorganize the company in that sense.

Philippe Gelis - Kantox

Most tech companies have flexibility in their DNA, so if we need to adapt we will adapt, we will know how to do that. Definitely it will be painful, it will be time dedicated to things not really brining value to our business, but we will adapt as we have always done.

David Klein - CommonBond

The notion that lenders should account for a borrower's ability to repay is what we consider to be responsible lending. any lending operating procedure is well served by doing it.

Alex Lin

There's now a need for innovative services to fill the demand. The situation encourages the creation of such technology-driven innovative services to serve the greater unbanked group.

Richard Cordray

The Consumer Bureau is proposing strong protections aimed at ending payday debt traps. By putting in place mainstream, common-sense lending standards, our proposal would prevent lenders from succeeding by setting up borrowers to fail.

Svi Rosov

Advisors are treating it as a potential threat and also a potential opportunity. How it impacts advisors will depend on the industry with which they are working.

Svi Rosov

Those advising in the high-net-worth segment may find fintech as more of an opportunity than a potential threat, because those investors have particularly complicated needs.

Rob Lavet - SoFi

Regulatory agencies want to ensure that consumers receive all required disclosures and that the product will not harm consumers.

David Klein - CommonBond

What we're seeing right now is D.C. feeling its way to a modern regulatory framework to account for past big-bank behavior and emerging fintech promise, as it relates to the consumer. My hope and expectation is that we get to a world where a company meant to better serve consumers is able to flourish.

Bert Kwan

It is extremely exciting to support MoMo's broader mission of promoting financial inclusion across Vietnam.

Zennon Kapron

Naturally, because growth in the region is quite high, you should expect to see continued investment.

Mark Carney - Bank of England

The regulatory framework must ensure that it is able to manage any systemic risks that may arise from technological change without stifling innovation.

Mark Carney - Bank of England

We have prioritised work to analyse structural vulnerabilities in asset management activities and to identify risks that may merit policy responses in four areas.

Mark Carney - Bank of England

An over-optimistic ´liquidity illusion´ may have been reinforced by the growth of investment products offering redemptions at very short notice.

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Quotes about Fintech

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