IBS Journal April 2017


55


IBS Journal: What has been your smartest move?


FS: We wanted to launch in the UK first because there is a hunger here for FinTech, and a market environ- ment that can support new finan- cial services apps to be developed quickly. This is the right time for FinTech businesses and enterprises to start building the next generation of financial applications, and now they can with TrueLayer.


IBS Journal: What was your biggest challenge/setback?


FS: The reluctance of banks to em- brace a new approach to banking has probably been the most frustrating thing. Everyday I talk to end custom- ers who want to be able to do so much more with their finances, but want to maintain a level of security and trust in where their money is held. Everyday I speak with FinTech startups and enterprise innovation labs who have great ideas about how to bring new apps and experiences to end customers to excite them and make financial management a more intrinsic part of how we live our daily lives. But banks still put too many roadblocks on working together and working with the regulators, hinder- ing the ability to open up banking


APIs so that FinTech can create the new apps that customers want.


IBS Journal: Where do you want to be in five years?


FS: We are creating the platform for marketplace banking and we want to be the leader of this new category. We see ourselves as the universal infrastructure that banks can leverage to distribute their financial products and innovators can use to build in-


novative experience. We envision a future where banking functionali- ties would be embedded in a variety of applications and services and we want to be the enabler of this industry wide revolution.


“WE WANTED TO LAUNCH IN THE UK FIRST FIRST BECAUSE THERE IS A HUNGER HERE FOR FINTECH”


www.ibsintelligence.com


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