Five Degrees was a sponsor of the Marketforce Future of Digital Banking conference in London on June 29/30 in London. Peter-Jan van de Venn, Chief Commercial Officer of Five Degrees outlined the Five Degrees vision on Marketplace Banking.
Five Degrees strongly believes in “the world of services”. A connected world where banks have core infrastructure to support the key functionalities they need, but for specific value adding services or products they connect to API’s of niche software vendors.
Fintech is hot
Fintech is still hot. Since 2010 more than $50 bn has been invested in the industry. Although there was a slight dip in Q4 2015, the Q1 2016 figures still show an increase of investments compared to the previous year.
In many countries such as the UK and Netherland, regulators are lowering the barriers to entry in the financial sector which has led to a stream of new Fintech companies starting up. Five Degrees frequently visit Fintech events such as Finovate, Money 2020, Future of Digital Banking and each year we see new innovative Fintech companies emerging. Most of these new companies are established by entrepreneurs bringing extensive experience from established players in banking and technology. They identify a shortcoming at current providers and focus on improving one specific niche service or product.