“Fintech is a really important part of the UK economy and a really important part of our future as well.” Christopher Woolard CBE, partner at EY and chair of the EY Global Regulatory Network, shares his thoughts on the future of fintech.
Woolard chatted to Matt Hyde, managing director of Fintech Awards London and a director of fintech recruitment provider Recruit 121, about developments in fintech and how EY is growing in that sector.
At EY, Woolard leads its financial services regulation services with a strong focus on innovation. His role is to play a key role working with EY clients to become more resilient and customer-focused as the financial services industry reshapes.
“It’s going to be a really really challenging business environment in the next few months and probably for the next couple of years to come,” he said. “However, at the same time in financial services we are still seeing a high degree of resilience in many of the firms that we work with.”
“I think also customers and business are really interested in ways in which they can access greater efficiency, how they can actually deliver products that more consumers want or actually use on a regular basis. So in terms of the fintech sector I think there’s some really interesting things that can be done there. Fintech is a really important part of the UK’s economic future.”
The pair also discussed the importance of fintech for good and industry diversity, as well as EY’s sponsorship of the Fintech Awards London 2022. For Woolard the ‘tough’ entry process for the Awards struck a chord.
“One of the things that struck me from being one of the Award‘s judges was how firms are put through their paces. This really felt like a tough competition for those firms that are involved rather than just a vanity project or just