Best Practice in Innovation, Entrepreneurship & Design Suits in the Garage Can technology restore trust in the financial sector?

Imperial College Business School

Agenda Welcome Nic Carey, Blockchain Huy Nguyen Trieu, Disruptive Finance Panel Q&A Networking Close

Huy Nguyen Trieu Author, Disruptive Finance @huynguyentrieu

Entrepreneur, Banker, Blogger, Advisor, …

•  Polytechnique / Ponts et Chaussees / MIT

•  Entrepreneur: CEO Ukibi. From 3 to 50 to 20 people. $15m

•  Banker: MD international bank*

•  Blogger: Disruptive Finance

•  Advisor: Fintech HK / WEF / Trusting Social. Resident Expert Oxford Said Business School

* Views are my own and do not reflect my employer’s or any organisations I am affiliated with

Why I find Fintech exciting

•  Technology has revolutionized many sectors and will continue transforming more

•  Finance facilitates commerce and will be revolutionized in the same way

•  Innovations will exceed our expectations. Easy to imagine a faster horse, harder to think of the automobile

•  Timing is now:

•  Aftermath of subprime crisis

• Regulatory changes for financial institutions

• Changes in consumer behaviour

Don’t underestimate disruption

Source: Disruptive Finance

www.disruptivefinance.co.uk/

?p=125

Vision is clear. But how long does it take to get there?

Opportunities in developed and developing world

• Developed:

• Huge potential

•  “Different” is better than “better”

• Don’t underestimate procrastination and inertia (“more likely to get divorced than change bank account”?)

• Developing:

• Huge potential

•  Leapfrog

• Home-grown

Blockchain: amazing vision. How to make it real?

• Mental revolution: financial assets can be transferred without trusted third party

• Compared to Arpanet or TCP/IP:

•  Potentially huge impact

• Much longer than expected (Arpanet:70s. Mosaic:93)

• Unpredictable “killer app” (IMDB / Bloomberg / The Tech)

•  Institutional finance even harder:

• Need consensus

• Regulation: e.g 6 years for central clearing

•  “Different” is better than “better”

Exciting companies in Fintech

•  Klarna: from online checkout to lending to deposit to…

•  P2p Lending: online lending unstoppable. Many variations (agent vs. principal, retail vs. institutional, etc. ) will emerge

• Credit Karma: monetizing financial information (= Google for finance)

•  Ant Financial: the potential of emerging markets

Imperial means Intelligent Business Imperial College Business School 11

Suits in the garage

Thank you for attending this evening’s talk! Please make your way to Lower Ground LG19 for

refreshments and networking