Former Innovate Finance chief executive Charlotte Crosswell has said fintechs have shown the future is technology led, after the sector adapted well to Covid.
Crosswell (pictured), who stepped down from the helm of the fintech trade association on 1 May to be replaced by Janine Hirt, said it was remarkable how quickly the fintech sector assessed the situation Covid presented, regrouped and began to push ahead once again.
Speaking at UK Fintech Week last month, Crosswell highlighted how fintech innovations are embedding themselves into other sectors, for example, with big data and artificial intelligence, and will continue to do so in other parts of people’s lives.
Crosswell added that the UK financial services sector must continue to innovate and fintech must continue its journey to being truly tech led.
“We often say that fintech was born from the global financial crisis of 2008,” she said.
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“The Covid crisis has had a similar jolting impact, setting the stage for how the future of financial services can rapidly evolve and innovate, leverage best in class technology and data-led products and services.
“I simply cannot give enough credit to everyone for their resilience, resourcefulness and the speed at which they reacted to the challenge.
“The world of financial innovation never ceases to amaze me, fintech was born from one crisis and has proved itself in another. It has become a leading light in the UK’s technology story, something we can be proud of, and we must grasp that opportunity to challenge ourselves as we look to economic recovery.
“Our future post Covid is clearly technology led and fintech is showing us that future. I personally cannot wait until that chapter.”