"The Billion Dollar Opportunity: FinTech Automation"

  • Ernst & Young, Boston 200 Clarendon Street Boston, MA, 02116 United States

Our January meet-up will explore why and how the use of bots, blockchain, AI and other emerging technologies are rapidly being adopted by large firms in the back-office and the opportunity this presents you. To date, a great deal FinTech innovation has centered on front-end solutions for the retail customer. Entrepreneurs have successfully built tech stacks that seemingly enable one to pay, lend, invest or even trade seamlessly and with great success. Yet, the back-end of these systems remain ripe for improvement. American Banker listed process automation as one of the top 10 venture investment areas for 2017 for good reason: Many processes at large Financial Services firms still rely on people, paper and outdated technologies. Traditionally, back offices have employed thousands of people to process, reconcile and audit transactions necessitating large budgets to support these manual efforts. Seeking efficiency, financial services firms are increasingly building analytic solutions and partnering with emerging tech firms to solve this challenge. Our panel will outline a roadmap for the back-office of the future and discuss their experiences and real cases already being tested and utilized today.