The industry needs to ‘embrace’ fintech 13 October 2017London Reporter: Jenna Lomax
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The securities lending industry needs to embrace fintech, according to a panellist at International Securities Lending Association (ISLA) 8th Annual Post Trade Conference.
The panel, which consisted of three senior members of European-based financial services, discussed how technology is rapidly changing the securities lending industry.
Opportunities for regulatory change were a talking point, as well as operational efficiencies and revenue opportunities.
The panel also spoke on how blockchain, robotics and artificial intelligence are revolutionising the business.
One panellist explained: "The securities lending terminator will not come in and take new roles. I'm hopeful that it will be man and machine, not man versus machine."
Other speakers were more sceptical about the future of fintech.
One commented: "My concern is 5-10 percent of banking jobs could be gone within ten years because of fintech. We're living in a new era where machines can push you and suggest things to you, independently.”
The panellist added: "This is why a lot of firms are against it, but I think demonising it is completely wrong. We have to work with it."
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