Startups should be ready to pivot if the current climate demands it and build even closer ties with clients.
This article was written by Dennis Owusu-Ansah, CEO and founder of TradeRiser.
Prior to the EU referendum there was a lot of speculation regarding the impact of a potential Brexit on the financial industry. The one thing that was certain was that there would be a lot of volatility in the market on the day of the vote. Post-Brexit, let's examine what happened and what it means for the UK fintech industry.
With the pound dropping to its lowest level since 1985 and David Cameron resigning as Prime Minister, the Governor of the Bank of England came to reassure the financial industry of its contingency plan, promising £250 billion to ensure that financial institutions do not run short of cash. Although the financial institutions have been assured, it does not save them from the increased regulatory burden that will ensue as the UK prepares to exit.
Innovation for these institutions will fall even further down their list of priorities as they adjust, creating space for fintech startups to occupy. The fintech companies that will prove to be the winners will be the ones that figure out how to develop and manage distributed ledger technology that will quickly reduce counterparty risk, margin requirements, and settlement.
As these technologies come to market, they should be in a position to attract new entrants with lower transaction costs, increased transparency, and ultimately bringing increased Liquidity to the market.
Some institutions may even decide to make job cuts, and this will certainly led to more fintech companies being spawned to fill the void where possible.
Retail brokerages may have an even harder time trying to convince their clients to trade more, due to the Brexit uncertainty. The increased uncertainty will mean that a greater degree of intelligence and insight will be required when trading, in order to exploit changes in currency correlations and other non-traditional market phenomena. For this, startups that offer artificial intelligence and research assistant technology as a value added tool will prove crucial in order to stimulate trading.
Smart negotiations based on UK interests could open access to talent within the fintech ecosystem by using the immigration of non-EU immigrants. This demonstration of a desire to seek stronger ties outside the union may spur venture capitalists to funnel money into the fintech ecosystem.
Until the UK finally exits the EU, it will certainly be an interesting 2 years, and providing technology solutions that will help alleviate the challenges faced by the industry in this period can only be a great thing. My advice to startups such as ourselves is to keep persevering, be ready to pivot if the current climate demands it and build even closer ties with clients.
As always the dust will eventually settle.
This article was written by Dennis Owusu-Ansah, CEO and founder of TradeRiser.
Prior to the EU referendum there was a lot of speculation regarding the impact of a potential Brexit on the financial industry. The one thing that was certain was that there would be a lot of volatility in the market on the day of the vote. Post-Brexit, let's examine what happened and what it means for the UK fintech industry.
With the pound dropping to its lowest level since 1985 and David Cameron resigning as Prime Minister, the Governor of the Bank of England came to reassure the financial industry of its contingency plan, promising £250 billion to ensure that financial institutions do not run short of cash. Although the financial institutions have been assured, it does not save them from the increased regulatory burden that will ensue as the UK prepares to exit.
Innovation for these institutions will fall even further down their list of priorities as they adjust, creating space for fintech startups to occupy. The fintech companies that will prove to be the winners will be the ones that figure out how to develop and manage distributed ledger technology that will quickly reduce counterparty risk, margin requirements, and settlement.
As these technologies come to market, they should be in a position to attract new entrants with lower transaction costs, increased transparency, and ultimately bringing increased Liquidity to the market.
Some institutions may even decide to make job cuts, and this will certainly led to more fintech companies being spawned to fill the void where possible.
Retail brokerages may have an even harder time trying to convince their clients to trade more, due to the Brexit uncertainty. The increased uncertainty will mean that a greater degree of intelligence and insight will be required when trading, in order to exploit changes in currency correlations and other non-traditional market phenomena. For this, startups that offer artificial intelligence and research assistant technology as a value added tool will prove crucial in order to stimulate trading.
Smart negotiations based on UK interests could open access to talent within the fintech ecosystem by using the immigration of non-EU immigrants. This demonstration of a desire to seek stronger ties outside the union may spur venture capitalists to funnel money into the fintech ecosystem.
Until the UK finally exits the EU, it will certainly be an interesting 2 years, and providing technology solutions that will help alleviate the challenges faced by the industry in this period can only be a great thing. My advice to startups such as ourselves is to keep persevering, be ready to pivot if the current climate demands it and build even closer ties with clients.
Insurtech, Crypto, and Blockchain: The Fintech Trifecta of Q1 2024
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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