How will Technology Transform Financial Industry

Patrick Bucquet, Co-Founder and Senior Partner at Chappuis Halder & Co. participates in Risk Roundup to discuss “How Technology Will Transform Financial Industry”.

Overview

Thanks to advances in science and technology, fundamental changes are on its way to nations: its government, industries, organizations and academia (NGIOA).

A potential promise of this fundamental change is transformation; transformation that is creating completely new technology, business, management and governance models. As seen across nations, in almost every sector, we are witnessing great examples of how technology driven transformation is redefining the very core of the business, management and governance models of NGIOA.

Uber and Facebook are just some of the great examples.

Financial industry is also going through similar technology driven transformation. Almost every type of financial activity that we see today, from banking to payments to wealth management, is being re-imagined and re-designed.

As the digital technology begins to shakeup the financial industry workflow and processes, everything is impacted. The tasks that were once handled with paper money, giant computers, and human interaction, are now being completed entirely on digital interfaces, without involvement of any humans and in a short amount of time and cost effectively.

When new digital competitors, new digital technology, and new consumer expectations begin to impact the financial industry, the question surrounding the industry today is not whether it will be transformed, but how it will be transformed for a Digital Global Age.

Thus, it is important to evaluate-

  • What opportunities advances in technology: information, communication, digitization, artificial intelligence, cloud computing, blockchain and internet of things brings to financial industry?
  • Which financial sectors are most vulnerable to disruption?
  • What are the main growth drivers of this new fintech ecosystem?
  • What are the transformational challenges?
  • What are the associated security risks

So, where is the industry going?


For more please watch the Risk Roundup Webcast or hear Risk Roundup Podcast


About the Guest

Patrick Bucquet is currently Co-Founder and Senior Partner at Chappuis Halder & Co., with first-hand experience of the transformation of the Financial Industry landscape and the emergence of new services in Europe, Asia and North America. Patrick is enthusiastically involved in the launch of digital offerings, supporting banks and insurance companies to surf the digital waves. He is Tech-savvy with a deep industry expertise, bridging the gap between business and IT to develop powerful and disruptive innovations to transform the FS industry.

About the Host of Risk Roundup
Jayshree Pandya (née Bhatt) is a visionary leader, who is working passionately with imagination, insight and boldness to achieve “Global Peace through Risk Management”. It is her strong belief that collaboration between and across nations: its government, industries, organizations and academia (NGIOA) will be mutually beneficial to all—for not only in the identification and understanding of critical risks facing one nation, but also for managing the interconnected and interdependent risks facing all nations. She calls on nations to build a shared sense of identity and purpose, for how the NGIOA framework is structured will determine the survival and success of nations in the digital global age. She sees the big picture, thinks strategically and works with the power of intentionality and alignment for a higher purpose—for her eyes are not just on the near at hand but on the future of humanity!
At Risk Group, Jayshree is defining the language of risks and currently developing thought leadership, researching needed practices, tools, framework and systems to manage the “strategic and shared risks” facing nations in a “Global Age”. She believes that cyberspace cannot be secured if NGIOA works in silo within and across its geographical boundaries. As cyber-security requires an integrated NGIOA approach with a common language, she has recently launched “cyber-security risk research center” that will merge the boundaries of “geo-security, cyber-security and space-security”.
Previously, she launched and managed “Risk Management Matters”, an online risk journal and one of the first risk publications, publishing “Industry Risk Reports of Biotechnology, Energy, Healthcare, Nanotechnology, and Natural Disasters” over the course of five years. Jayshree’s inaugural book, “The Global Age: NGIOA @ Risk”, was published by Springer in 2012.

About Risk Roundup

“Risk Roundup” is an “integrated strategic security risk dialogue” for nations: its government,  industries, organizations and academia (NGIOA) in cyberspace, geospace and space (CGS).Risk Roundup is released in both audio (Podcast) and video (Webcast) format and is available for subscription at (Risk Group WebsiteiTunesGoogle PlayStitcher RadioAndroid, and Risk Group Professional Social Media).

About Risk Group
Risk Group believes that risk management, security and peace walk together hand in hand. Though security is related to management of threats and peace to the management of conflict, risk management is related to management of security vulnerabilities as well as management of conflict, and it is not possible to conceive any one of the three without the existence of the other two. All three concepts feed into each other. Risk Group believes that the security we build for ourselves is precarious and uncertain until it is secured for everyone across nations. Tradition becomes our security-so if we build a culture of managing risks effectively it will lead us to security and security will lead us to peace!

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