The Financial Technologist

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Transcript of The Financial Technologist

  • Q 4 . . 2 0 1 6

    Under surveillance: Getting to grips with the new market abuse regulationAND

    THE FUTURE OF INVESTMENT Advice from the stars of the regulatory & compliance network



    Plotting the regulatory landscape

    The FinancialTechnologist

  • Introduction by Toby Babb

    FEATURE Sales talk of the round table A premium selection of sales and HR directors discuss the question: What is the idealsales compensation plan formy business?

    FEATURE Financial compliance and fintechSimon Leifer of D2 Legal explains how technology is playing its part in the regulatory landscape

    FEATURE Fintech: guiding those in the financial industry through a hazardous regulatory landscapeAlan Angell, Chief Operations Officer,WallStreetDocs provides his invaluable tips on navigating the key regulatory hurdles

    FEATURE Under surveillance: Getting to grips with the new Market Abuse RegulationMike OHara of The Realisation Group looks at just how prepared financial institutions are under MAR

    FEATURE A qualitative approach to Best ExecutionThe Realization Group speak to some of the major players from the Buy Side about how they approach data management

    FEATURE The future of investment advice?Gilbert van Roon, CEO of Fintech Compliance explains how AI and progressive technology will help influence your investment decisions

    FEATURE Skilled staff shortages check post Brexit small business bullishnessPatrick Reeve of Albion Ventures looks at how small businesses might have to change their approach to Brexit

    FEATURE RegTech: the final Fintech enabler?Erez Mathan of GoCardless tells of Regulatory Technology could be the final frontier for Fintech

    FEATURE Innovation and collaboration identified as key drivers of global financial inclusion and financial transparencyDean Curtis of LexisNexis Risk Solutions explains a recent study on how risk management processes are affecting whether financial institutions will accept a customer or not

    FEATURE The Definitive Interview Guide (continued) Parts 5 and 6 of our definitive interview guide looks at the importance of online testing and competency questions

    Fintech Focus John Knuff, General Manager, BSO NetworksJustin Short, CEO, Nous Global MarketsAndrew Powell, COO, SoftekGeraldine Gibson,CEO, AQMetrics

    Market news & commentaryInsight on the market from dedicated experts in their field

    Starr Insights The affects of Brexit: Should we still be talking about them?! By Scott RichardsonThe ideal sales person, by Ani LputianThe growing trend of women in technology, by Sarah Philby

    Meet the Editorial Team About Harrington StarrContact

















    ContentsThe Financial Technologist | Q4

    Theres one peak we Britons have failed to conquer for almost half a century. email:

    The Vende Globe has not earned the

    nickname the Everest of the sea for nothing.

    Its the ultimate test for a sailor. Gruelling,

    very, very lonely and pretty hairy. It takes

    an exceptional kind of person to win.

    We believe that its high time that

    exceptional person was a Brit. Surprisingly

    (or should we say embarrassingly) the last

    Briton to win a single-handed non-stop

    round the world race was the legendary Sir

    Robin Knox Johnston, in 1969. Thats right,

    1969. For five decades the French tricolour

    has flown proudly at the summit of solo

    ocean racing. In the Vende 2020 we want

    to run up a Red Ensign in its place. As we

    speak, 12 of this countrys most talented

    yachtsmen and women are competing to

    be the one to fly the flag. The chosen one.

    And right now were also looking for a very

    special sponsor to share in his or her fame.

    For fame there will be. Remember Ellen

    MacArthur? She became a household name

    and a Dame for her performance in the

    Everest of the sea. Imagine if shed won.

    Wave ad2_v2.indd 1 23/05/2016 12:59

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  • G L O B A L L E A D E R S I N F I N A N C I A L S E R V I C E S A N D C O M M O D I T I E S T E C H N O L O G Y R E C R U I T M E N T

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    elcome to the Q4 issue of The Financial Technologist. 2016 has been one of the most interesting periods of recent economic history and the ripples continue to arrive on a seemingly daily basis. If 2015 was the year of Fintechs breakthrough, 2016 has seen macro-economic issues have a telling impact on its growth. We sit in a period of political and economic uncertainty. At the time of writing the Sterling remains in freefall against the Dollar. Trump vs Clinton divides a Nation with tremors expected no matter which way the voting goes. Brexit is set for

    Harrington Starrs financial technology news, commentary, insight and features.

    Welcome to The Financial Technologist

    Wrecruitment in the sector continuing to climb? Looking at the predominant market trends impacting FS (regulation, cost savings, staff cuts) and the principal factors driving Fintech (Robo-Advisory, Cloud, RegTech, Blockchain) there is a perfect storm for tech companies in the space to really seize market advantage. With companies looking to cut staff costs, technology becomes a winner with investment needed into headcount to drive efficiency through that tech. FinTech has also continued to boom as confidence wains in the banking sector with a similar exodus being experienced from the sell side to the buy side. The landscape is very different from ten years ago with a far more fragmented scene. We have long

    spoken about Robo-Advisory, Payments, Crowd Sourcing and similar disruptive tech seeing wins and this has continued to flourish as the wider more traditional FS space suffers. There is an appetite for faster, more flexible, technology driven solutions that continues to require a job boom. As all of this happens, so too has a gear change been seen in the Capital Markets sector. The recent outstanding report from EY and Innovate Finance begins with Lawrence Wintermeyer citing that we have seen an increase in activity in capital markets: solutions to complex front-, middle- and back-office problems are emerging in the form of FinTech solutions. AI, RPA, distributed ledgers and cloud are delivering innovations that have never before been achievable. Efficiency gains, better decisions, cost reduction and regulation have opened up a huge door of innovation. Once again this is driven by technologists. The regulatory climate has never been more aggressive or complex and investment into technology in these areas is no longer a nice to have but, quite simply, a mandatory aspect of any strategy of any business in the sector. This has again opened the door to technology innovation and we are seeing entrepreneurial and agile FinTech players provide the solutions to the issues that have dogged the industry. Far from a luxury, technology has become a cost saving, profit driving element to FS success. A major turnaround over the last ten years. On top of all of this, there remains a skills gap within the UK Technology space and, with threats around overseas talent being welcomed into the country,

    T O B Y B A B B , M A N A G I N G D I R E C T O R , H A R R I N G T O N S T A R R

    March 2017 with severe concerns surrounding the prospect of a Hard Brexit. The situations around Russia and Syria continue to boil with the potential for serious economic disruption. The commodities and oil and gas trading industries are in consolidation and the banks are feeling the savage economic strain. There has been the first rise in unemployment in the Capital for many months. Within the industry, the impact is already being felt. It was recently reported in the Sunday Times that Misys were set to wipe a billion off their flotation price owing to the economic climate. The crisis at Deutsche has seen mass implications and we have recently heard of a major energy trading business dissolving a significant chunk of its senior leadership team following cataclysmic market results. Analysts have predicted that the biggest economic threat that will emerge from Brexit is a lack of confidence that in turn leads to a fall in recruitment. Hiring continues to boom in FintechIt is with some level of surprise, with such a backdrop, that technology hiring within the FS space is continuing, on our evidence, to grow at an ever increasing rate. Job levels are 63% up year on year and there is a climate of hiring not seen for many years. With such a bleak economic backdrop, why is

    Analysts have predicted that the biggest economic threat that will emerge from Brexit is a lack of confidence that in turn leads to a fall in recruitment.

  • G L O B A L L E A D E R S I N F I N A N C I A L S E R V I C E S A N D C O M M O D I T I E S T E C H N O L O G Y R E C R U I T M E N T

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    the shortage proposes a genuine threat to the continued growth in the space. Poor investment into FinTech education and a reluctance to invest and train entry level staff is biting. As long as that continues, jobs in the sector will continue to rise and the war for talent will rage on. Whilst it would be nave, having recruited through the dotcom bubble and 2008s meltdown, to suggest technology within FS is immune from the wider economic concerns, it certainly seems that the sector is well positioned to continue to grow throughout the gloom. With a talent shortage, technology driven solutions being craved in financial services, an ever more innovative sector and a regulatory climate desperately needing tech staff t