Strong and swift

Author: | Published: 27 Apr 2018

Speakers at IFLR’s 2018 European fintech forum on March 22 discussed how the sector is growing leaps and bounds

Keynote address – technology as an opportunity not as a threat (Paul Cuatrecasas, chief executive office, Aquaa Partners) It takes a lawyer on average 92 minutes to review a contract but a machine can do it 10 seconds, with 10 times more accuracy (Stanford University study); Almost all big companies by market capitalisation are in the technology sector (10 years ago, only Microsoft was in that category): banks' market capitalisation has grown 60% in past few years but technology companies have seen growth of over 1,000%; 80% of companies feel threatened by digital startups, with half of the CEOs concerned (KPMG); There are over 15,000 fintechs out there with are disrupting the market: in the financial sector, challenging banks have no physical outpost, doesn't carry out normal banking services and everything has to...