Fintech offers up the promise of democratisation of finance by providing digital, mobile, networked and decentralised solutions. It has potential to include traditionally underserved communities. AI is key to many of the new solutions as they influence, for instance, the terms and availability of credit based on social media behaviour and relational data. If learning algorithms fail on their promises of inclusion, fintech firms may hardwire predatory inclusion, existing inequities, and unconscious biases into financial markets. And new platform players may offer integrated solutions that increase the availability of financial offers but reduce their transparency.
Some of the questions posed by the FinTech Stream and addressed by our speakers are:
- How do we ensure that the already profound inequality worldwide is not further exacerbated by this new technology?
- How can we help users stay in financial control?
- Do we need new infrastructures (identity, transparency, trust) to support new solutions?
- How can we build a financial world fit for all kinds of people?
Who should attend this workshop
This workshop is for delegates who attended the FinTech stream sessions on Friday 9 October, and who want to participate in further discussion and hands-on activities to actively engage with the challenges, risks, and opportunities identified at the conference.
Dr Anette Broløs, Independent FinTech analyst
Anette Broløs is an independent FinTech analyst and experienced network leader working with strategic innovation and partnerships. Anette holds an industrial PhD in collaborative innovation and has a background in economics (Master and MBA). Anette has extensive work experience in finance including six years as CEO in Copenhagen FinTech Innovation and Research. Together with Dr Erin B. Taylor, she is an EWPN Research Lead.
Erin B. Taylor, Economic Anthropologist
Erin Taylor is an economic anthropologist who specialises in research into financial behaviour. She is Principal Consultant at Canela Consulting. Erin is the author of the book Materializing Poverty: How the Poor Transform their Lives (2013, AltaMira), which deals with socioeconomic transformation in the Dominican Republic. She has published chapters (with Professor Heather Horst) on financial inclusion and financial literacy in Haiti and the Dominican Republic in Money at the Margins (2018, Berghan), Design Anthropology (2017, Springer) and Linguistic and Material Intimacies of Cell Phones (2018, Routledge). Erin is also a co-lead (with Dr. Anette Broløs) of the research programme of the European Women Payments Network (EWPN).