Emerging financial technology businesses are attracting a lot of interest, in particular from financial institutions. Indeed, the new solutions offered by these start-ups may be perceived as threats to financial institutions' business model. However, such new technologies may also provide interesting opportunities to the institutions able to integrate them intelligently.
Speakers will share their insights on the major financial institutions' approaches to building bridges with the FinTech community.
An integrator will talk to us about his experience as an intermediary between these major institutions and start-ups.
Then, a serial entrepreneur will present the approaches he has used to get introduced to and, more importantly, be accepted by large corporations.
Like start-ups in other sectors, emerging FinTech businesses have a lot to gain from getting noticed by the industry they're bringing solutions, and challenges, to. The 2016 edition of the FinTech Canada Forum wanted to give these start-ups the opportunity to increase their visibility to the financial community, as well as potential investors and partners.
Around ten of these start-ups will have five minutes each to present their business and the new technology solutions they're offering.
The speakers on the above-mentioned panel and:
David Nault, Principal, Vice President – Investments, iNovia Capital
Jay Ferst, Managing Partner, Ferst Capital
Xavier-Henri Hervé, Director and Entrepreneur, District 3
The room will then vote using a dedicated application.
How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed
According to a number of financial institutions, technological innovation is often at odds with regulatory compliance. While institutions want to be more agile, they are often held back by layers of controls and risk management mechanisms. Furthermore, emerging SMEs in the FinTech sector must also comply with regulatory requirements, which forces regulators to closely monitor the new financial services on offer as well as the underlying technologies. How do regulators ensure they are treating established financial institutions and new FinTech businesses fairly? How do the major players and regulators react when small businesses propose innovative services like web-based peer-to-peer lending or crowdfunding? How can operational agility and regulatory compliance dovetail within a major financial institution?
Five companies will have 7 minutes to present before judges their FinTech product and services along with their development strategy. Entrepreneurs must convince the judges and the audience that their products are innovative and that their strategy presents a strong growth potential. The audience will be able to vote live for their favorite pitch through the FinTech Forum mobile app.
Blockchain technology is viewed as a disruptive innovation with the potential to profoundly change how the global financial services industry operates. Potential applications of blockchain are wide and varied, from money transfers to securities trading and even signatures on legal contracts. They all rely on a decentralized and distributed trade verification system, which could make the current central counterparty - or intermediary - based systems obsolete. How does blockchain work, and why is this innovation revolutionary? Could blockchain challenge the central banks' control over currency and their role as financial service intermediaries? What strategies are governments and financial institutions adopting to address the threats and opportunities that come with the development of blockchain?
Room 512 A/B
Entrepreneurs launching FinTech companies can face challenge which may affect their growth strategy or even the viability of their business models. Breaking through this innovative sector can be a daunting task, especially when taking into account the global competitive landscape in which major financial institutions are protecting their market shares and where some FinTech companies have already matured enough to dominate specialized niches. What challenges are associated with launching and managing a FinTech company? What specific factors present in various communities should entrepreneurs take into account? What dynamics are affecting the global FinTech marketspace and how should local entrepreneurs capitalize on them? What will be the secret of the success of the next Canadian Unicorn?
Room 512 C/D
Shrinking profit margins, growing regulatory costs and new competition are forcing financial institutions to find new ways to make efficiency gains. Putting in place a culture of innovation to better serve clients, increase agility and improve agility seems imperative to stand out from competitors and ensure long term profitable growth. How can we foster innovation within the IT function of large institutions? How can we simultaneously achieve operating current systems while exploring IT alternatives? How can we reconcile the imperatives of having efficient current operations with the challenges associated with experimenting and innovating? Can a CIO become ambidextrous and reconcile both aspects? What means are at the disposal of IT heads to improve their performance in that context?
With sensors being installed in all manner of objects, massive quantities of data can be transmitted to insurance companies. Artificial intelligence and self-learning machines make it possible to process this data like never before, thereby changing how the insurance industry manages risk, which is now individualized rather than mutualized. The distribution of insurance products via the Internet and real-time data transmission is radically changing traditional business models involving insurers, insureds, distributors and related professional services, which creates new ecosystems where market share is redistributed. What challenges are insurance companies facing in generating value from data collected through the Internet of Things? How do technological advances affect insurance companies' relationships with their clients, suppliers, partners and distributors? In a world where cars drive themselves and homes are connected, how are risks such as fire, theft or collision insured? Moreover, how is liability determined, and how do we protect insureds' privacy?
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