WHY THIS MATTERS IN BRIEF

Fintechs promised to shake up and disrupt global banking, did they or did they just modernise an out of date business model?

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Firstly, thank you to Azleen and the Malaysian Securities Commission for asking me to be their keynote and their annual SCxSC event where financial services organisations, fintechs, investors, and regulators from all across Asia come together to discuss and share the latest breakthroughs and thinking in financial services.

During my session, entitled “Fintechs: Enablers or Disruptors” I investigated the role that fintechs have, do, and will continue to play within the global financial services ecosystem and whether we should think of them as disruptors or enablers in the new world order.

Fintechs: Enablers or Disruptors? Keynote by Matthew Griffin

Ironically, while many fintechs will think of themselves as disruptors in my opinion when all is said and done their legacy may very well be the culture change that they forced on the industry as industry incumbents, with no previous motivation to change the status quo, were all of a sudden faced with Flight or Fright decision unlike they’d ever experienced before.

And now, of course, ironically just as we see banking incumbents looking over their shoulders at the fintechs camping on their lawns fintechs themselves are starting to look over their shoulders at new decentralised finance players who, again, play by an increasingly alien playbook. And so the cycle of disruption and transformation continues. I hope you enjoy the keynote.