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Global - Standard Chartered
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Bankingon Fintech
Lucy Demery, Global Head of Fintech Banking at Standard Chartered, on taking bank-fintech partnerships to the next level. Finance was ripe for disruption following the global financial crisis, when consumers and policymakers began to re-evaluate their relationship with banks. In the meantime, tech-savvy millennials began to demand fast, transparent and personalised user experience. All this combined with a new
wave of venture capital to support new technology and business models built from scratch. Banking incumbents are slowly waking up to the reality of this new competition. Financial services innovation is rapidly evolving – across faster payments, open banking, distributed ledger technology, artificial
intelligence, robotics, digital assets and cloud computing, to name a few themes. These are converging in the space traditionally served by banks. Fintechs have been successful not only by building this new technology, but by bringing a new approach to customer focus and execution.
