Newcastle University Business School

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Fintech, Ecosystem and Accountability Network

The second in a series of events to focus on Financial Technology took place at the University of Edinburgh Business School

On Thursday 9 November, practitioners and academics came together at the University of Edinburgh Business School to examine co-produced codes and tools related to ecosystem; risk and reporting standards and new technologies within the financial services industry. This event was related to the Business School’s ERSC Impact Acceleration award that is jointly granted to Dr. Marwa Elnahas (PI) and Dr. Karen Elliott (CI) of Newcastle University Business School and Prof. Julian Williams (PI) of Durham University.

Technological and social change is impacting on the financial industry at an ever-increasing pace. Simultaneously, recent regulatory reforms have impacted the profitability of many incumbent financial intermediaries. However, the new platforms provided by this technological revolution permit the creation of new innovative firms that can transform the financial sector. The objective of this workshop series is to bring together academics, practitioners and policy makers to cultivate new business areas and operating models within the financial sector.

As of 2015, globally £10bn has been invested into Fintech start-ups with more than £635m located in the United Kingdom. The opportunities presented at this time of multiple disruptive events, such as the global financial crisis, the Eurozone crisis and Brexit, are generating an environment where innovation is needed to solve immediate and real world problems. The event was free to attend and open to anyone with interest in the area of financial technology and disruptive innovation.

This event was the second event to look at Financial Technology, with the first taking place at Newcastle University London campus in June 2017 on "Auditing and FinTech network" where Adam Afriyie (MP for Windsor) delivered a keynote speech highlighting the key perspectives of the government for the FinTech industry and how the UK is aiming to lead not only in Europe, but also the World, to become the key FinTech provider.

In order to achieve the aim of bringing practitioners and academics together, the event engaged with existing members of the corporate collaborator network and expanded it via: conferences; workshops to maintain these relationships to influence and inform future changes; and current thinking in audit policy and practices. 

 

Attendees of the ERSC IAA FinTech Network event in Edinburgh

published on: 15 November 2017