Technology Will Not Save Us

Fintech Finance Magazine covers DataArt’s annual financial roundtable in London, where finance and fintech leaders debated critical industry concerns, the effectiveness of regulation as a mechanism preventing another financial crash, the role of RegTech, data management and legacy IT systems in mitigating systemic risk in markets and the need to align planning and rewards systems.

“Leaders of the financial services and fintech industries met last week at DataArt’s second annual Financial Roundtable at Armourer’s Hall in the heart of the City of London to debate the causes of the last crash and identify where the next one will come from.

In a packed out Armourer’s Hall, delegates gathered to hear from a panel with decades of combined experience in financial services, capital markets and fintech debate how regulation and technology is interacting with key issues facing the markets, the economy and the world. The discussion revealed fears that while regulation has increased across financial services, it has not made a crash less likely and in fact some elements of regulation may simply act as amplifiers for a future crash. The discussion also covered the possible role of RegTech (regulatory technology), data management and legacy IT systems issues in mitigating systemic risk in markets; and also, how short term planning and reward needs to go if we are to move away from a casino mentality in the industry.

Moderated by Cliff Moyce, the panel was composed of industry big-hitters; Paul Humphrey, Head of Fixed-Income, Rates & FX (FICC), Euronext; Richard Snookes, Head of CIB Financial Crime EMEA & APAC, RBS; Stephen Taylor, CEO, Stream Financial; Bernie Thurston, Consultant Data Strategy, Index & ETF specialist; Julia Royle, financial services strategic marketing and communications expert; and, Chris Gledhill, CEO, Secco Aura.”

View original article here.

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