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Coffee houses to cyber markets: Disintermediation in financial services

5 July 2017 @ 6:30 pm - 9:00 pm

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“I don’t see any reason why we can’t replace one of the largest US Banks… I say that with all humility” (Mike Cagney, CEO of SoFi). 

Fintech aims at providing people and businesses with financial services through cutting-edge software and digital technology. SoFi is a fintech platform specialising in personal loans. Thanks to a well-defined strategy and an online membership model, they have raised more than $1bn in equity capital and made more than $19bn worth of loans in the US. While the company is not without its own set of potential problems, their success is considered a beacon for entrepreneurs looking to disrupt an old world of relationship-banking, flawed by high transaction costs and information asymmetries. Today, ‘challenger banks’, web platforms and software start-ups directly compete with incumbents in most areas of the financial sector to sell financial services and solutions to customers. Due to regulatory constraints and unwieldily organisational structures, corporate banks and insurance companies are struggling to keep up with fintech startups when it comes to speed and agility. In a space where technology is fluid and uncertain, new entrants understand everything from money transfers, lending and investing to payments must integrate seamlessly in the lives of tech-savvy, sophisticated customers. Join an expert panel for the final in our Next Practice Series 2016/17 to discuss the opportunities afforded by financial technology, and to explore how new skills, platforms and architectures could potentially lead to a wave of disintermediation within the financial services sector.

Venue

Imperial College Business School
South Kensington Campus Exhibition Road, SW7 2AZ
London, GB
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