Technology is already transforming the financial services. However many of the propositions that we have seen so far come from disruptive startups offering non-core consumer facing services. The next phase of transformation will see exponential technologies having a radical impact on the core banking and insurance processes.
The Financial Services sector will be transformed by advanced technologies bringing massive cost benefits to the industry. The combination of technologies such as distributed ledger and machine learning will bring huge efficiency benefits and increased regulatory compliance.
We believe the major innovations will come out of the startup eco-system. Startups have already demonstrated their ability to transform whole sectors. However, when it comes to the complex core banking processes, startup founders will need the support of experts with deep domain knowledge.
Dreamstake identify the most promising fintech startups and offer to connect them with the resources they need to succeed. This can either involve providing them with capital at pre-seed or seed stage or linking them with potential clients by implementing formal accelerator programmes.