How have you seen Fin Tech since
you stepped into the space?
When I designed and setup a
venture programme in 2008/09 at
State Street, Fin Tech wasn’t a word
that was in existence.
It has since evolved drastically
and regulators are an additional
positive facilitator. Especially over
the last year, regulators across the
globe have been stepping up and
embracing Fin Tech to see what it
A number of regulators that we
have spoken to, such as the FCA in
the UK, have been very vocal about
their plans to collaborate with
Fin Tech firms. We have also seen
many others setting up sandboxes
to understand and progress the
development of Fin Tech.
Regulators are naturally keen to
create environments that make
them internationally competitive.
What was the catalyst for these
rapid Fin Tech developments?
If you look at the banking sector
since the crisis, the entire banking
model has been challenged. The
cost of doing business has increased
and revenues have been affected
due to low interest rates, creating a
very different environment.
As incumbents, banks are having to address these challenges.
At the same time we are seeing
more nimble start-ups, who are
working on disruptive solutions.
As a result, we have seen banks
become more open to the idea of
working with emerging Fin Tech
RISE Financial Technologies’ CEO Thorsten Peisl spent
15 years in the post-trade industry, before taking the
helm at the distributed ledger technology firm. Here
he talks about the growth of Fin Tech, collaborating
with banks and some predictions for the future.