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Motive Partners - Sunday Brainfood

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Paul Desmarais III (Executive Chairman, Portag3 Ventures and Chairman & CEO, Sagard Holdings) sha
 
March 17 · Issue #134 · View online
Brainfood
Paul Desmarais III (Executive Chairman, Portag3 Ventures and Chairman & CEO, Sagard Holdings) sharing his view on the collaboration between banks and FinTechs:
“Ultimately, from the vantage point of sitting on the boards, investors groups and other financial institutions, I think the biggest challenge today is that with scale comes legacy. And this legacy comes in legacy systems, legacy talent, legacy channels, legacy customers. All of this legacy is very hard to evolve and I think a lot of large companies are struggling with change management initiatives.
One of the biggest challenges in the change management initiatives is the willingness to take risks and the willingness to potentially fail when the risk is taken, given the conservative nature that gets built in these large organisations. Ultimately, the financial institutions that are most willing to take risks and potentially fail will be those that are able to circumvent and overcome their legacy challenges in the future.”


Motive Podcasts
In last week’s podcast, we heard from Adrian Lovett, President and CEO of the World Wide Web Foundation, co-founded by Sir Tim & Rosemary Leith (Motive Partners’ Global Advisory Council member) and this Wednesday on our 52nd podcast of the series, from Toronto, we are joined by Paul Desmarais III (Executive Chairman, Portag3 Ventures and Chairman & CEO, Sagard Holdings)
The Future of Finance by Motive Labs on Apple Podcasts
The Future of Finance on SoundCloud
Upcoming Industry Events
Financial Services
ING Bank gets unlimited access to R3’s Corda
Mastercard acquires Ethoca
Standard Bank: Technology steadily deepening international trade as global power shifts East
Standard Chartered and Naspers are showing interest in India
StanChart to set up digital SME platform in India
AIB and Institute of Banking develop digital revolution resource
HSBC backs CXA Group’s $25m funding
Dubai International Financial Centre launches $10m FinTech fund
First Data to acquire Brazil's Software Express
Deutsche Börse and Swisscom to build digital asset infrastructure
Lloyds, NatWest and Barclays team on biz banking hubs
Santander to adopt BlackRock's Aladdin platform
FinTech
The UK embraces contactless payments
PayPal lets users instantly transfer funds to bank accounts
Crypto and blockchain giants join the GDF board
IBM blockchain partners with Stellar to expand Cross-border banking networks
Facebook's cryptocurrency could be a $19 billion revenue opportunity
CULedger brings DLT security to voice banking
Bitcoin's trading volume tops $11 billion for the first time in nearly a year
Who will trust Facebook bank?
9 Startups inducted into inaugural Apollo Munich InspireNext Program
The new business models of banking
Fintech Startup stash to Launch "Stock-Back" debit card rewards
Barclays launches algorithm Barx Peg
NatWest pilots biometric payment card
FSS acquires 46% stake in Standard Bank subsidiary Ecentric
CapitalRise turns to Seedrs for equity financing
Report: Machine learning aids visible hand of payments
Regulation
EBA publishes PSD2 API clarifications
SEC Commissioner, Hester Peirce, says that crypto markets should self-regulate when possible
UK regulators host the first meeting of the Climate Financial Risk Forum
Can PSD2 Get Past Its GDPR Problem As Deadlines Hit?
Regulators turn to artificial intelligence for market surveillance challenges
Key Hires
Finantix appoints Marc Bussell to a brand-building role
Deutsche Bank adds the digital expert - Samar Sen from BNP Paribas
Goldman Sachs is hiring startup-minded engineers for its new tech incubator
Citi’s Michael Lewis joins Bian executive board
Nutmeg cuts six directors from board
Fintech Built Technologies Hires Ritz as SVP of Technology
Former Virtu executive joins Dash Financial as compliance chief
Confluence appoints Jory Wheeler as SVP of engineering
Fintech industry pursues clarity on ‘token’ regulation
M&A Activity
Funding Transactions
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