Corporate and Investment banking
When financial services firms get clever
Business growth is driving a demand for capital
Digital disruption is a reality, and industries ranging from telecommunications and transport to holiday accommodation have had to grapple with it in the very recent past, writes Johann Barnard. One of the next targets in the sights of digital disruptors is the financial services sector. It is easy to foresee this taking place in the consumer market, though a similar reshaping of the corporate finance landscape appears far less likely. But then so did the possibility that the taxi industry would be overtaken by ride-sharing services. Or that people would be able to rent a house, an apartment or a bed directly from the home owner. The catch-all phrase that encompasses this threat is "fintech". It ranges from basic transnational banking to the downright bewildering, such as blockchain technology and digital currencies. The proverbial ostrich would be inclined to stick its head in the sand, which is precisely the wrong response. Candice Raybourn, who leads Deloitte’s financial services...
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