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Global insights handpicked by PwC

Freedom at a Price: Why Regulation Is Crucial to Fintech’s Future

In recent years, financial technology, or FinTech, has dramatically expanded financial inclusion in China and elsewhere in Asia. Small and midsized businesses that have been underserved by banks now have access to capital, as FinTech enterprises use the internet and mobile technology to reach those borrowers; leverage data analytics to build credible and innovative risk profiles to gauge creditworthiness, and are able to scale their reach exponentially with 24/7 customer windows and without the baggage of fixed-cost overheads that typically shackle traditional banks.

Rethinking Credit Scores in the Age of Fintech

The Equifax data breach that exposed 143 million personal records was a wake up call about the shoddy security at one of the major credit rating bureaus. But it left many of us thinking about larger issues. What value do the three big ratings bureaus, Equifax, Experian and TransUnion, provide today in our emerging digital economy? Not only do these agencies dangle the sword of Damocles over our creditworthiness, they each rely on nearly identical metrics to do so. And they have the gall to charge you to access your own data, which they collect to sell to businesses. Your data is their product.

The massive hedge fund betting on AI

As chief executive officer of one of the world’s largest hedge funds, Luke Ellis prides himself on a healthy appetite for risk. “My job,” he says, “is to not blink.” About five years ago, he did, though—in a big way. What spooked him was an experiment at his firm, Man Group Plc. Engineers at the company’s technology-centric AHL unit had been dabbling with artificial intelligence—a buzzy, albeit not widely used, technology at the time. The system they built evolved autonomously, finding moneymaking strategies humans had missed. The results were startlingly good, and now Ellis and fellow executives needed to figure out their next move.

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Vivek Belgavi

Partner, India FinTech Leader, PwC India

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