Alyned Thinking

2016 has arrived and if we are to believe the talking heads on blogs, Twitter and LinkedIn, it is the year FinTech companies will continue to dismantle and replace banks and the RegTech force awakens.

There is a new buzzword rocking the financial services industry: RegTech which stands for “Regulation Technology" To explain it, we have to make a little excursion to last week’s hot topic in the form of FinTech (Financial Technology).

Some FinTechs have become so successful over the recent months that they are challenging some of the worlds oldest major banks and insurances in revenue and market cap. Where no FinTech can compete, however, is on a track record of trust that dates back centuries, as in the case of some banks.

In nearly every organisation I have encountered, the approach has been to open up a word processor, draft a policy, get sign-off and publish it somewhere as a PDF. I have never seen this being particularly effective, and here’s why.

The founding team of Alyne just spent three days attending one of the largest conferences for the startup community in Europe - the Munich Bits and Pretzels conference.