uk fintech and insurtech all about collaboration · axis bank has partners with active intelligence...
TRANSCRIPT
![Page 1: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/1.jpg)
UK Fintech and InsurTech
All about collaboration
@devie_mohan
![Page 2: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/2.jpg)
![Page 3: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/3.jpg)
![Page 4: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/4.jpg)
![Page 5: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/5.jpg)
![Page 6: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/6.jpg)
![Page 7: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/7.jpg)
![Page 8: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/8.jpg)
![Page 9: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/9.jpg)
![Page 10: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/10.jpg)
![Page 11: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/11.jpg)
![Page 12: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/12.jpg)
![Page 13: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/13.jpg)
![Page 14: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/14.jpg)
global corporate banking executives believe that digital will change both the
competitive landscape and the economics of the business
stated that they have an
explicit digital strategy
believed their organization has market-
leading digital capabilities
Fees drop57%Declining profits45% 16%Pretax returns fall below
hurdle rate of 16%
30%
of traditional corporate banking
revenue will be attracted by of
digital platforms and channels.
86%
43% 19%
Financial stakes are high for corporate banks
HOWEVER, ONLY
![Page 15: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/15.jpg)
Source: Moody’s Analytics
Add to that an overwhelming burden of compliance
![Page 16: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/16.jpg)
globally
27 FinTech unicorns
out of which
B2B FinTechs
44%
of FinTech unicorns are
B2B FinTechs
B2B FinTech unicorns emerging across the globe
44%
22
12
![Page 17: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/17.jpg)
![Page 18: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/18.jpg)
![Page 19: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/19.jpg)
![Page 20: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/20.jpg)
only current, savings accounts
plus cards plus mortgage plus insurance, investments, etc.
Specialists
Simple product offerings such as savings account,
current account, credit cards. Vast majority of
challengers play in this space.
Generalists
Full scale and relatively conventional product offerings such
as mortgage, insurance, payments etc. Most of these are
pseudo challengers launched by large organisations.
![Page 21: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/21.jpg)
Segmentation: BY BUSINESS MODEL
B2BB2B
![Page 22: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/22.jpg)
BLOCKCHAIN BASED PAYMENTS
PAYMENTS
P2P LENDING
PAYMENTS
STUDENT LENDING
PAYMENTS
Sub-accounts for family members
Borderless accounts for travellers
Retail banking products
Current account
Foreign exchange
Current account
Foreign exchange
Credit cards
SME banking
FinTech offering Challenger bank offerings
PAYMENTS Salary accounts
Cards
![Page 23: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/23.jpg)
The ecosystem is complex, multi-layered and getting more
complex by the day
Proprietary
Parent
bank’s
Parent
bank’s
Parent
bank’s
Proprietary
Proprietary
Parent
bank’s
Parent
bank’s
Proprietary
Proprietary
Proprietary
Proprietary
Proprietary
Proprietary
ProprietaryParent
bank’s
IN-HOUSE CAPABILITIES
Products, sales
and marketing
Channels
Back office
Bank License
Examples TSB, Metro Simple, Moven Hello, Soon Fidor, Atom
Large
ChallengersNeo Banks
Digital
Subsidiaries
Digital
Native
RELIANCE ON PARENT BANK
Digital
Only
Loot, Pockit
Proprietary
Proprietary
Bare-minimum
Not Required
SELF-RELIANT
PSEUDO-CHALLENGERS CHALLENGERS EMBRYONIC
Digital Darwinian
Evolution
![Page 24: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/24.jpg)
![Page 25: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/25.jpg)
![Page 26: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/26.jpg)
![Page 27: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/27.jpg)
![Page 28: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/28.jpg)
REGTECHS
Automated Compliance Management KYC & Identity
Reporting Market Surveillance
Cyber Security Fraud Detection/ Management
Risk Management Monitoring
The back-end The f ront -end
RegTech has tremendous cost savings potential
![Page 29: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/29.jpg)
![Page 30: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/30.jpg)
![Page 31: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/31.jpg)
![Page 32: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/32.jpg)
![Page 33: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/33.jpg)
![Page 34: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/34.jpg)
![Page 35: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/35.jpg)
![Page 36: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/36.jpg)
![Page 37: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/37.jpg)
Data analytics use-case for regulatory compliance
![Page 38: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/38.jpg)
NAB's digital bank UBank has created RoboChat with IBM Watson to respond to
questions on home loans.
Bank of America partnered with HighRadius and launched Intelligent Receivable, a new
service that uses AI to improve straight-through reconciliation of incoming payments.
Westpac Banking Corp is working with local start-up Hyper Anna, whose technology uses
AI to conduct data analytics and visualisation
ANZ Banking Group has created biometric voice capability with technology company
Nuance to allow customers to bank by talking to the app.
Artificial intelligence is the hot topic of 2019
![Page 39: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/39.jpg)
But it offers significant benefits..
Operation-Focused
Trading and
portfolio functions
Regulatory compliance
and supervision
FINANCIAL INSTITUTIONS USE CASE BENEFITS
Customer-Focused
Operational
efficiency
Automation
Regulatory
Compliance
Customer
centricity
![Page 40: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/40.jpg)
Chatbots are very popular
The PoC with ATB, Canada, in FB
Messenger through Finn.ai
Canadian online lender Thinking
Capital announced the launch of its new AI fintech
chatbot, “Lucy”, on FB.
Axis Bank has partners with Active
Intelligence (Active.ai) to launch intelligent
banking chat bots
Russia-based Tochka Bank launched the world’s
“first” Facebook bot for a range of financial
services.
Ally Financial, a branchless, online bank
recently launched a mobile personal
assistant, by voice or text, with Personetics.
Barclays Africa is also piloting a chatbot, making it
the “first bank” to do so in Africa.
American Express is partnering with
Facebook to provide an Amex bot for its card
members.
HDFC Bank uses chatbot developed by Niki.ai to
foray into commerce on social media
DBS plans to start the conversational AI on
FB Messenger through KAI, an AI assistant
BOA launches AI chatbot Erica, which will be
available inside the bank's mobile app starting
next year
![Page 41: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/41.jpg)
Banks collaborate for blockchain
FINANCIAL INSTITUTIONS USE CASE BENEFITS
BLOCKCHAIN
INVESTMENTS
Bank GuaranteesOperational
efficiency
Faster
settlementsPayments
Risk
reductionSecurities Lending
Faster
disbursalCorporate Lending
Operational
efficiencyTrading
![Page 42: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/42.jpg)
Token is an Open Banking Platform on the
blockchain leveraging smart-contracts to
monetize access for banks for TPPs
FCA has authorized Token to deliver payment initiation and account
information services, under the terms of PSD2.
TrueLayer is an API platform for
developers to access bank data they need
to build new apps and services
Zopa has worked with TrueLayer to create an income verification
product which removes the need to manually upload documents to
verify income - replacing it with Open Banking data.
Plaid offers a suite of API tools to
allow developers to integrate with
bank infrastructure and access and
authorize user bank accounts
CustomersInvestors
Open Banking has possibilities, but monetisation hard to get right
![Page 43: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/43.jpg)
![Page 44: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/44.jpg)
C2FO and Citi have partnered to offer an end-to-end trade finance solution that
includes Dynamic Discounting, amongst a suite of other bank provided payables
solutions.
Kabbage is offering SME loans in partnership with ING, Scotiabank and
Santander
JPMorgan Chase collaborated with OnDeck, a leader in online small-business
lending, to offer a proprietary credit score based on loans granted to small- and
mid-tier corporates.
TD Bank partnership with nCino allowed TD Bank to digitalize the entire consumer
lending process from start to finish.
DBS joined forces with peer-to-peer lending sites, funding societies and MoolahSense,
to better serve small businesses. In return, the two lending platforms refer borrowers
with good credit to DBS for commercial banking solutions such as cash management
Banks partner with fintechs for digital lending
![Page 45: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/45.jpg)
Banks partner with fintechs to automate treasury operations
• KeyBank partnered with AvidXchange to provide a software-as-a-service solution as part of KeyBank’s treasury management platform.
• The solutions replaces paper-based invoicing and payment processes with digital capabilities.
• BBVA acquired Holvi, an online business banking service.
• Holvi is geared towards entrepreneurs, and small and medium sized-businesses and provides them a range of business services (traditional banking, online sales platform, cashflow tracker, etc.) with integrated features that offers a one-stop-shop for businesses.
• Capital One joined forces with Bill.com and Gusto to simplify cash flow for small businesses and integrate HR into their business processes.
• The collaboration will work with the bank’s existing suite of financial products and help to manage all aspects of cash flow and HR-related processes.
![Page 46: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/46.jpg)
Investment collaboration with B2B fintech platforms
![Page 47: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/47.jpg)
Digital banking collaboration for customer experience
Channel partnershipIntelligent financial assistant and conversational
interface to improve customer engagement
Technology partnershipWhite-label modular and API-driven platforms
from challenger banks to improve customer
experience
Product partnershipChallenger banks’ data-driven personalised
products with better rates and improved
transparency
Experience partnershipCustomer-facing challenger banks’ platfomrs for
improved onboarding experience and self-serve
capabilities
Digital subsidiariesMobile-first bank subsidiaries to capture niche
customer segments, especially millenials
![Page 48: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/48.jpg)
Insurance collaboration catching up
![Page 49: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/49.jpg)
![Page 50: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/50.jpg)
No one knows what’ll be the impact of Brexit (really)
![Page 51: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/51.jpg)
WTO Model
Turkey Model
Swiss Model
Norway Model
Long-termMid-term
What are the next steps for fintech’s?
Short-term: Uncertainty Assess immediate impact | Avoid hasty strategic decisions | Develop several strategic scenarios |
Active communication strategy
Mid-term: New Roadmap
Short-term
Regularly evaluate UK and EU negotiations roadmap and timeline
[Article 50, new UK legislation, 27 EU states negotiations]
Evaluate scenario impact
Long-term: Vision
123
1
2
3
Movement of Talent | Investment and Funding | Passporting and Regulatory | Customer Data | Contracts and Costs | Innovation and IP
Movement of Talent | Investment and Funding | Passporting and Regulatory | Customer Data | Contracts and Costs | Innovation and IP
Movement of Talent | Investment and Funding | Passporting and Regulatory | Customer Data | Contracts and Costs | Innovation and IP
Movement of Talent | Investment and Funding | Passporting and Regulatory | Customer Data | Contracts and Costs | Innovation and IP
Minimal impact | Significant or uncertain impact | Maximal impact
London will remain a financial hub.
Will it be the fintech hub?
What is your company vision?
![Page 52: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/52.jpg)
Potential Impact
Investment and Funding
Impact
o Uncertainty leading to temporary decrease of funding
o Affects early stage incubator/angel investments more than VC investments
Next Steps
o Revisit timeline of current and future funding plans (especially early stage funding)
o Pro-active investor relations
Global VC funding
Pre-Brexit investor
anxiety
UK VC funding
Q2 2015 Q2 2016
$33bn $40bn >>
>
$4.3bn $2.8bn
>>
>
EU VC funding
$1bn $994m
>>
>
![Page 53: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/53.jpg)
Potential Impact
Passporting and Regulatory
Impact
o Depends on EU-UK negotiations
o Window of opportunity for lobbying
Next Steps
o Assess related risk and costs for your product/service
o Plan alternative strategies
![Page 54: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/54.jpg)
Potential Impact
Innovation and Intellectual Property
Impact
o UK will likely repatriate EU Intellectual Property legislation
o Crisis creates new threats and also opportunities
o Benefits to creative, innovative and agile startups
Next Steps
o Research post-Brexit customer needs
o Investigate new partnership, M&A and exit opportunities
o Review your patent and trademark strategy
o Prepare for changes in application processes
![Page 55: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/55.jpg)
Potential Impact
Cross-border Movement of Talent
Impact
o Free movement of workers
o Additional personnel costs
o Motivation of your key non-UK talent
Next Steps
o Assess your exposure
o Retain your key talent
60,000FinTech jobs in the UK [Fortune.com]
30%are talent from
overseas
[Innovate Finance]
![Page 56: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/56.jpg)
Potential Impact
Customer Data
Impact
o Major policy change is unlikely
o Depends on ‘adequacy’ provision from EU
Next Steps
o Assess your current data location, ownership and flow
o Review the contracts, user agreement and privacy policy
![Page 57: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/57.jpg)
Potential Impact
Contracts and Costs
Impact
o Lack of clarity when EU territory is referenced
o Additional costs
Next Steps
o Assess the contractual agreements
o Revisit contractual, currency and operational risks and costs
£50 000Estimated UK-EU relocation cost per
1 employee in financial industry
![Page 58: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/58.jpg)
London’s fintech status could be under debate, but it still rules the scene post-Brexit
![Page 59: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/59.jpg)
![Page 60: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/60.jpg)
Blockchain – Dilbert’s view
Collaborate.
Thank you!
devie @ burnmark.com@devie_mohan
![Page 61: UK Fintech and InsurTech All about collaboration · Axis Bank has partners with Active Intelligence (Active.ai) to launch intelligent banking chat bots Russia-based Tochka Bank launched](https://reader036.vdocument.in/reader036/viewer/2022070806/5f03fcc57e708231d40bc231/html5/thumbnails/61.jpg)
Collaborate.
Thank you!
@devie_mohandevie@ burnmark.com