While London has historically been the centre of fintech innovation, the illustrious title of Fintech Capital of the World is up for contention next year, with the rise of fintech hubs in places like India, Singapore, and China. How will the advent of Brexit affect London’s ability to retain its title? Hear what these global industry leaders predict for next year.
Karen Kerrigan - Chief Legal Officer, Seedrs:
"While we in London have held the crown for the fintech capital for the last few years, we can't rest on our laurels.
There's been a lot of interaction and collaboration with the likes of regulators particularly in Asia, but also elsewhere internationally. I think it will be absolutely key for us to make sure we utilise those relationships not just as collaboration, but actual insight to make sure we stay at the forefront of our game."
Ajay Bhalla - President of Global Enterprise Risk and Security, MasterCard:
"There are a number of countries vying for that position, and we’re seeing a lot of interesting innovation coming out of emerging markets. It's a very very difficult one, because we’re seeing different things and different needs in different geographies. We’re seeing a number of new things coming out of India, coming out of China. We’re also seeing equally exciting things coming out of the UK.
So it’s very hard for one to say because they’re actually solving for different needs around the world."
Sam Handfield-Jones - Director, Octopus Labs:
"I'd like to say London still even though I think there’s a lot of negativity around London with Brexit. I still think the city is geared up for financial technology; so few institutions are actually choosing to leave, and the infrastructure behind all of these institutions has existed for decades, if not centuries.
If you look at cities like Geneva and the like that aren't even in the EU, they’re financial technology capitals themselves. So I'm going to say London."
Alex ‘Sandy’ Pentland - Professor, MIT Media Lab, Sloan Business School:
"I think the answer is that it’s not clear. A lot of the incumbents have problems. Some of the upstarts - Shanghai and places like that - have their own problems. So I don't think there's going to be a leader.
I think what we’re seeing is the beginning of a big wrestling match. And it’s too early to call the winner."
Want to learn about the future of financial innovation from these and other global industry leaders, including Nir Vulkan, David Shrier, Jeff Lynn and Nick Ogden?
Saïd Business School, University of Oxford is collaborating with online education provider GetSmarter to present the Oxford Fintech Programme, a 10-week online programme designed to equip you with the skills, tools, knowledge, and network you need to take a fintech startup from concept to execution.