BL Magazine
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Finance<br />
FIntech in<br />
the Channel<br />
Islands:<br />
a bright<br />
future…<br />
It’s hailed by some as the next<br />
big thing for the islands, but<br />
are the opportunities in fintech<br />
as dazzling as they seem, or are<br />
people getting carried away?<br />
IF YOU’RE LOOKING to coast along in a job where everything<br />
remains safe and familiar, and the only change you have to deal<br />
with is the stuff in your pocket that secures goodies from the office<br />
vending machine, then the world of finance may not be for you.<br />
The sector is being turned on its head, thanks to record levels of<br />
investment pouring into groundbreaking technology platforms.<br />
According to Accenture, investment in financial technology<br />
(fintech) companies trebled last year, rising from just over $4bn<br />
globally in 2013 to more than $12bn. It marks a formidable shift,<br />
especially in a sector that has traditionally raked in those dollars<br />
and cents without worrying too much about the 1s and 0s.<br />
The most eye-catching fintech deals in recent times have been<br />
the $3.5bn that KKR and others poured into payment processor<br />
First Data, and the $865 million raised on the New York Stock<br />
Exchange by Lending Club, a peer-to-peer lender. But the fintech<br />
34 January/february 2016 www.blglobal.co.uk
Change language