The arrival of CBDCs This year’s Future of Money session will be moderated by James Lloyd, partner and Asia Pacific fintech and payments leader at EY (Ernst & Young). He’s also excited by the prospect of Sibos’ debut in London. “If anything, I expect our session to be even more popular this year!” says Lloyd. “As perhaps the leading global financial services and fintech hub, London is the perfect location to consider not just the future of money, but also its changing nature. “A recent speech by the governor of the Bank of England, for example, in which he suggested that a new ‘synthetic hegemonic
currency’ could conceivably emerge to ‘dampen the domineering influence of the US dollar on global trade’, has brought to the fore one of the most intriguing developments in this space – the emergence of central bank digital currencies (CBDCs).” Lloyd agrees that the penetration of cash is declining globally, and expects this trend to continue. He thinks that what will replace it will differ from market to market – from mobile wallets to bank-to-bank transfers, to cryptocurrencies. “While customer demand will help shape outcomes, so too will the supply side,” he explains. “In particular, the changing
regulatory landscape. Consider, as an example, the pushback we’ve seen following just the announcement of the digital currency proposed by a certain social media company.” As with many areas of fintech, Lloyd believes that China is the most advanced when it comes to developing crypto for the masses, with the People’s Bank of China suggesting that its own CBDC is nearing deployment and may replace cash. “No matter which way this goes, expect to hear more about the seemingly inevitable rise of CBDCs,” adds Lloyd. “The future of money is nearly here – but are we ready?”
THE FUTURE OF MONEY LINE UP Tony Fish, Founder, AMF Ventures
Fish is a seasoned executive director with more than 25 years of experience in investment, innovation and high growth businesses. His professional life has cut across a diverse range of sectors, including venture capital, health, finance, digital fabrication, media, mobile, sport and education. His attention is currently focussed on AI, voice, ethics, DLT and cryptocurrency. He has founded, cofounded, sold and listed many businesses but remains passionate about highly disruptive technology that has the capability to scale fast and is at an early stage. A visiting lecturer and speaker on innovation, entrepreneurship, digital trends and early stage growth, he has authored and published three books.
Scarlett Sieber, Managing Director & Chief Strategy and Innovation Officer, CCG Catalyst Sieber is a respected leader, driving organisational change at startups and global enterprises alike. She is currently MD and chief strategy and innovation officer at the consultancy CCG Catalyst, where she advises financial institutions and fintechs on next-generation financial services. She is also a senior advisor for NASA’s Cross Industry Innovation Summit. Previously, Sieber was vice president at USAA where she led the newlycreated business development initiative.
TheFintechMagazine | Issue 13
Prior to that, she was chief innovation officer for Opus Bank, where she led the digital strategy and transformation for Opus and its trust subsidiary, Pensco. She was chief operating officer and cofounder of data visualisation tech startup, Infomous, whose clients include The London Olympics, Super Bowl XLVII, NFL Films, The Economist, The Guardian and USA TODAY.
Dr Leda Glyptis, Chief of Staff at 11:FS and CEO 11:FS Foundry Glyptis is responsible for the 11:FS revenue-generating businesses and leading the growth of Foundry, the firm’s modular core banking offering. She describes herself as a recovering banker, with a long career in operations and IT across major banks, products and geographies. She is a renowned speaker, writer and academic in banking and fintech, and an expert in digital disruption, strategy and execution in financial technology.
Michael Moon, Managing Director for Payments, Trade and Communications, Asia Pacific, SWIFT Moon joined SWIFT’s Singapore office in 2012 and leads its payments, trade and communications functions in Asia Pacific. He partners with the payments and banking industry to deliver next-generation payment and settlement solutions.
Moon manages SWIFT’s strategic initiatives in Asia Pacific, many of which are reshaping the payments landscape globally. These include SWIFT gpi for crossborder payments and SWIFT’s instant payment system solutions in Asia Pacific (including the New Payments Platform in Australia for domestic real-time payments). He joined SWIFT from American Express, where he led group strategy and business development for its network, merchant and B2B businesses in Asia Pacific.
James Lloyd, Partner and Asia Pacific Fintech & Payments Leader, EY (moderator) James is a partner at EY, specialising in strategy and transaction advisory. He leads the firm’s dedicated fintech capability across Asia Pacific, with a particular focus on growth-stage and non-traditional financial services. He is also APAC leader of the firm’s payments practice. Prior to EY, James helped build and scale a venture-backed alternative-finance platform enabling banks to profitably offer short-term unsecured loans to underserved small businesses. Before that, he supported a bootstrapped ecommerce payment gateway in combining direct-to-market customer acquisition with whitelabelled full-service delivery for partner banks. Based in Hong Kong, James sits on a variety of governmental advisory panels and is regularly quoted in local and international media. www.fintech.finance
Fintech Finance presents: The Fintech Magazine Issue 13