By: Javier Ampuero
Evolution Labs UK, as a member of Innovate Finance and supported by the UK Government’s Department for Business & Trade, is grateful to have been part of the Latin American delegation present at the Innovate Finance Global Summit 2024 in London (IFGS2024) as part of UK Fintech Week 2024.
The discussions here have been very interesting and enlightening, providing relevant information on the challenges and innovations of the Fintech industry in the UK and globally.
We have been privileged to attend substantial panel discussions between leaders from the banking and fintech sectors, offering very interesting insights into the current and future state of financial services. The large turnout at this event provided an excellent networking opportunity to foster collaborations and enhance growth within the fintech ecosystem.
While IFGS2024 has ended, the DBT has organised a series of events and meetings for the remainder of UK Fintech week, providing an excellent platform for both regions (UK and LATAM) to showcase and discuss innovative technologies and forward-thinking solutions, and strengthen economic relationships.
Some notes from IFGS2024:
– During the next decade, the need for robust regulations and policies to support fintech growth, ensuring predictability and proportionality for successful scaling without hindering innovation is emphasised.
– Despite global/local economic crises slowing technology development, the UK remains the ideal place to start a fintech company, with the aim of attracting investment, talent and forming leading global companies.
– The focus on leveraging financial education in the UK to nurture the right talent and create profitable fintech companies that export innovation globally, reinforcing the country’s position as a leader in the technology industry, is noteworthy.
– The next decade in fintech forecasts remarkable transformations with advances in artificial intelligence, blockchain and Big Data analytics, making technology solutions more personalised, accessible and secure.
– The ongoing battle against fraud risk mitigation in the financial sector plays a major role. Some potential solutions discussed focused on increased adoption of multi-factor authentication (MFA), strong digital identity verification and the possibility of holding platforms accountable for fraudulent advertisements.
Sincere thanks to the organisers of IFGS2024 and especially to Pablo Derpich and his excellent DBT team for all the effort and commitment shown.