When was the last time you walked into a physical bank? When was the last time you went to cash a cheque? These are just a few of the many questions that the second instalment of freuds’ tech debate series tried to answer.
Will Technology Break the Bank? aimed to charter the relentless rise of innovative technology in the financial sector — innovations that have significantly changed the way we experience our day-to-day lives and plan for the future.
The audience had the opportunity to hear from a vast range of different perspectives. The panellists included Alex Park, Head of Digital at Metro Bank; William White, Chief Operating Officer at the millennial banking app Loot; Mustafa Al-Bassam, Doctoral researcher at UCL and an ex-hacker; and Georgia Hanias, Head of Communications and Diversity Programmes at Innovate Finance.
The panel was moderated by Gemma Acton, a CNBC news anchor and correspondent who has a wealth of global knowledge in investment banking and asset management after her years at Goldman Sachs, PIMCO, and Merrill Lynch.
Fintech is an area that has seen remarkable expansion in the last decade, particularly in London. The panellists discussed whether banking had been firmly placed into the digital sphere, or whether there was still a demand for human-to-human service despite the rise of AI and chat bots.
The debate underlined the various fears associated with this unprecedented technological growth within the financial sector.