The Milton Keynes business community gathered on the 4th October at Metro Bank Midsummer, to discuss FinTech and innovation. The event drew in a broad range of attendees including, individuals from Invest MK, financial services, solicitors, accountancy firms, and local entrepreneurs for an evening of discussion around technology trends in financial services.

Attendees were welcomed by Mike Adamson, Local Director at Metro Bank Midsummer. He outlined the growth story of Metro Bank in Milton Keynes and the values Metro Bank stands by, in delivering ‘banking that’s customer-focussed and convenient.’

Mike Adamson, Local Director at Metro Bank Midsummer commented:

“It was great to be able to host the FinTech Business Networking event at our Midsummer store.  Whitecap shared invaluable insight on the impact of FinTech on our lives, both in a business capacity and personally. We look forward to running more networking sessions like this for local businesses, enabling them to hear from market-leaders and meet more like-minded professionals in the local community.”

Stefan Haase from Whitecap Consulting provided an introductory explanation of FinTech, stating promptly that “it is the application of technology to improve financial products and services” and that FinTech is “5% Fin and 95% Tech”.

We also learnt that the UK is a No.1 leader in two areas of technology – Formula 1 (based in the Silverstone Cluster) and FinTech (with a prominent presence in London).

Looking across the different technology trends being utilised in the current FinTech wave, Stefan then delved into the key opportunities around Blockchain, Artificial Intelligence and Open Banking.

Lal Tawney from Whitecap Consulting concluded the event with 4 key points:

  1. FinTech is already changing our lives

  2. FinTech will continue to impact our lives at a faster pace as recent technologies develop

  3. FinTech will have impacts outside of the Financial Services sector

  4. The Financial Services sector will look very different in 10 years time

Follow @whitecapconsult on twitter to keep up to date with our future events. Whitecap Consulting is a regional strategy and commercial consultancy with offices in Leeds, Manchester, Milton Keynes, Newcastle and Bristol.