News - 11.06.2021

Replay: Focus on Amazonisation

  • FinTech

Financial services is undergoing a shift, one towards increased transparency and a “platformisation” of products. In light of this shift, our Focus On Amazonisation explored this topic from a number of angles, including from the perspective of industry players, the regulator, and established FinTechs.

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Sherry Madera, Chief Industry and Government Affairs Officer at the London Stock Exchange Group, kicked off proceedings by delving into the new data economy. She highlighted that to truly embrace Amazonisation as an industry trend data must be a key input into this digitalisation, and while challenges still exist in this space, solutions are rapidly being developed.

Following Sherry, our panel delved into the shift of financial services to financial platforms. Claire Calmejane, Chief Innovation Officer at Société Générale, Edward Glyn, Managing Director and Head of Global Markets at Calastone, and Anders la Cour, CEO of Banking Circle joined Nasir Zubairi, CEO of The LHoFT, to discuss the topic. The panellists emphasised that Amazonisation is driving competitiveness in financial services by aligning the industry with its users, making the experience cheaper and more frictionless.

We also heard from Karen O’Sullivan, Head of Innovation, Payments, Market Infrastructure and Governance at the CSSF. Karen provided us with the regulator’s perspective, touching on a number of topics including that alongside the rise of digitalisation were new risks that financial services firms need to consider and understand.

Finally, Sean Byrne, CEO of PayPal Europe explored the future of payments and the reflections of an established FinTech. He noted that digital payments had taken a leap forward during the Covid crisis, and that there was now a clear digital first mindset, both from a client and merchant perspective.

For more information or to watch the full replay, click here.