Please wait while the transcript is being prepared...
0:00
Hello there. My name
is James Devlin and
I'm the Professor of
Financial Services and
the Director of the Center
for Finance Technology and
Society at the Nottingham
Business School.
Nottingham Trent University.
Welcome to this talk which
is all about FinTech and
digital finance and
the implications it
has for the marketing
of financial services.
As we will see, the
financial services sector
has long been a source of
innovation and change,
but arguably the pace
of change and pace
of development has increased
in the recent past.
We will be exploring why this
is the case and consider
the main implications for those
responsible for the marketing
of financial services.
0:41
Briefly what we will
cover in this session.
Of course we will have
a general introduction,
and we will then look at
some definitions of FinTech.
I will then walk you
through a brief history of
financial innovation
in the sector before
focusing in detail on what
the main products and services
are in the FinTech domain.
We need to think carefully
about what factors have driven
the FinTech revolution and
may well continue to do so.
Then we will look
in particular at
the marketing challenges for
so called incumbent firms,
that's the big banks,
investment managers,
and insurance companies
that have been
operating in the
sector for some time,
and also the marketing
challenges and
potential solutions
for FinTech firms
that have entered the
sector more recently.
We will finish by looking
at a case study of Revolut.
1:31
As I'm sure you will appreciate
technology has long had
an important role to play
in the financial
services sector.
We will trace the
history of consumer
facing technological
innovations shortly.
More recently, those innovations
and disruptive new entrants to
the financial sector
have combined to bring
about a step change in
the pace of advancement.
Many of you will have witnessed
these changes firsthand.
You'll have seen adjustments
in the manner in which you
interact with financial
services institutions,
be it on your phone,
on the computer, or a combination
of such interactions.
The changes in total have had
huge implications
for business models,
the manner in which consumers
consume financial services,
and of course, the marketing
of financial services also.
We will be focusing
in particular
on FinTech and its implications.
