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Life Hacks for Retail Lenders: Get fired up about FinTech

So, you wouldn’t know the difference between blockchain and a barrel of monkeys? You’re not alone! If you’re a banker, it’s time to whir it up in 2016. In case you slept through the past 12 months and didn’t notice the rise of FinTech, here are some snippets from recent press:

“The number of fintech startups is difficult to pinpoint, but data sources and industry watchers estimate that Asia has approximately 2,500 fintech startups while the U.K. and the U.S. have a combined total of 4,000” – Falguni Desai, Forbes Asia

“Based on assumptions and studies, the figures this year look like they’re heading near $30bn invested in fintech” – Chris Skinner, BankNXT

So what does this all mean for you? Last year Anthony Jenkins (Former CEO of Barclays) shared a stark vision for the banking world, predicting that over the next 10 years new technology, and a new wave of fintech startups, will disrupt the sector to such an extent that branches and headcount could decline by as much as 50%.

It’s not all doom and gloom though – in the last year the growing collaboration between FinTech and banks is already beginning to reap rewards in the form of improving customer experience and helping banks become more competitive.

As your 2016 resolution, get involved! Our industry is changing fast and you need to be clued in if you are to ride the wave of change! Not sure where to begin? Here are a few life hacks:

1. Socialize.

Join FinTech and related Tech innovation social mixers. You’d be surprised what’s on your doorstep. Search in your home city and destinations you often travel to for FinTech events:

2. Read and listen:

3. Mentor.

  • Who are the local accelerators? Is your bank starting one? Get involved and share your experience. No excuses! No matter what your level and role is in the bank, you have a wealth of knowledge to share and a lot to learn. If you aren’t sure how to get involved, get in touch and we’d be happy to share suggestions!

4. Industry Events. Here is a handy list of FinTech conferences in 2106:

BankersLab AdminLife Hacks for Retail Lenders: Get fired up about FinTech

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