AMPLYFI CEO Chris Ganje discusses how new AI capabilities are opening up opportunities for finance companies. The financial services sector exists in a disrupted and highly uncertain space. In the decade since the 2008 financial crash, there has been a fundamental shift in how it is regulated, how we think about finance, and how players compete.
While the role of the financial crisis as a catalyst for disruption cannot be overlooked, the part that technology has played in enabling this disruption cannot be disputed either.
The application of new technologies supporting increasingly innovative products, streamlining operations, and transforming how customers interact with their financial service providers has fundamentally transformed the competitive landscape across all financial services, in particular the banking industry. As global markets increasingly seek to follow and adapt regulatory leads initiated in the UK and Europe, the demand for insight and understanding of the future will only grow.
A key outcome of the 2008 financial crisis was to place pressure on bank lending, particularly personal and small and medium enterprise (SME) loans. This gap in turn created opportunities for new sources and channels providing access to capital to emerge. One such example has been the rise in peer-to-peer lending.
Originally by Chris Ganje for Asset Finance International, read the full article here