To summarise these are the top areas to consider:

1. ESG 360 will become a new DNA for finance and businesses

2. Digital assets, including Bitcoin, will become mainstream 

3. Metaverse NFT certification will become mainstream 

4. Carbon footprint will become the new financial credit score

5. The healthcare sector and data will become the new ID fintech footprint

6. DeFi and Cefi will increasingly merge 

7. AI Open Finance Web3.0 Metaverse will lead, disrupt, and replace the global financial economy

The last years were the years of fostering innovation and digital transformation for fintech and for our society, partly because of the Covid-19 pandemic. However, 2022 will accelerate the AI and P2P growth, creating fintech-driven communities continuously using Blockchain, the Metaverse, and NFTs as critical pillars of their foundations.

The financial services continued to have their waves and moments, as fintech fundraising surpassed the levels seen in previous years. In the next years, we might experience some troubles in the financial sector. Hence why we project that 4IR and Society 5.0 will drive fintech. These technologies will transform our society in a way that welcomes fintech into all business sectors, with a view that every business becomes a fintech eventually.

According to the data from Infinite Market Capitalisation, the market cap of Ethereum has surpassed that of every global bank, including JP Morgan.

1. Digital assets, including Bitcoin, become mainstream 

As businesses evolved over the previous decades, taken over by the internet and wireless communications in every dimension, the use of crypto is gradually becoming a common trend, especially in the financial services industry. Finance-related apps are increasingly adding crypto products and features to their wallets. For example, some challenger banks are allowing their customers to increase their share of yield by offering DeFi (decentralised finance) solutions. Similarly, larger banks are experimenting, for now at a small scale, with lucrative crypto offers. Another trading app, Robinhood, has recently started to allow crypto trading on its platform.

To facilitate the integration and management of the correct balance between the fiat and crypto financial solutions, we will see the advent of more (and better) crypto infrastructure. This trend will enable consumers to utilise transfers, yield, and many more related services. Further, these infrastructure moves will support a new wave of fintech companies, giving rise to a revolutionary phenomenon – DeFi mullets in 2022 (DeFi in the back end, and fintech in the forefront). 

Over the past decades, Bitcoin has entered the mainstream to successfully become a value store. After a slow rise, it gained immense traction in 2021, reaching all-time highs, and building up a considerable demand for the cryptocurrency. This trend is promising to blossom in the coming year, with the increase in trust among the users of the underlying blockchain technology. 

2022 looks very promising for Bitcoin owing to its guerilla-style marketing strategy involving word-of-mouth practice and heightened expectations due to promising projections. Further, its unpopularity amongst the federal governments is one of the factors that drive the victims of the flawed system of traditional banking to embrace revolutionary technology.

2. Institutional retail interest in digital assets grows

With many institutions accepting the trade of cryptocurrency for carrying out their businesses, the masses are increasingly vesting their trust in blockchain technology. By the end of the previous year, institutional investments started flowing in from the like as – The European Investment Bank, Visa, JP Morgan, Square, and even Twitter. 

The trend looks even brighter for the coming year with the rise of more crypto exchanges in the marketplace. This is bringing more cash flows due to conversions from fiat currencies to crypto. Technology seems to be evolving with the passage of time, tempting many new players to enter the grounds.

3. A shift to Metaverse experiences progresses 

The web-based social platforms – Reddit, Twitter, Meta, and other online discussion forums are constantly discussing crypto for good reasons. A variety of participants- crypto enthusiasts, investors, and traders are increasingly getting involved in almost every manner- discussion forums, chats, and even live interactive broadcasts. These are the enlightening sources that can guide a seasoned as well as a new entrant in the world of crypto about price trends, trading strategies, and volatility.

Community-level crypto fundraisers like GameStop saga, ConstitutionDAO, or Citadel’s Ken Griffin provide an illustrious picture of the digital community that willingly directs its funds for a greater cause. Such a trend will gain momentum in 2022 when collective action of the community would involve various technological solutions like NFTs, digital assetisation, and Metaverse experiences.

4. Carbon footprint becomes the new financial credit score

ESG (Environmental, Social, and Corporate Governance) is a critical aspect of our modern-day sustainable living. 

According to an estimate by OECD and World Bank, an investment of 6.9 trillion will be required by 2030 to meet the ESG targets for climate and development. The current spending on infrastructure is no more than USD 3.4 – 4.4 trillion, lagging significantly more than what is required.

Fiscal constraints and societal challenges like health, ageing population, and education overwhelm the governments and central institutions in bridging this gap. These enormous infrastructure challenges make it difficult to realise the UN estimates that by 2050, approximately 70% of the global population would be inhabiting urban areas. Thus, while governments, communities, and businesses would be upgraded to an equal economic status, society still faces the challenge to increase the momentum of development with innovation and technological advancements. 

5. The healthcare sector becomes fintech-savvy

Some fintech products have the potential to be a breakthrough for the healthcare sector. In this industry, diversification into new revenue streams is critical. The payments are usually complicated (using the third-party payer system), for instance, which means that traditional products such as Stripe may not be the answer. The potential here is enormous.

6. Metaverse, NFTs, and DeFi increasingly merge with fintech

Decentralisation is the term of the day. Everyone is speaking about it. DeFi (Decentralised Finance) is not just a trend, however. It is clear that the everyday person is tired of centralised money supply control; the growth of Bitcoin and other cryptocurrencies proves that. And although the federal government may still stop this development and come in with new regulations, this would be against the wishes of its electorate.

7. AI Web3.0 community will lead the global financial economy and society

The current financial system is not working for everyone, it is clear. The communities that have been unable to build generational wealth are looking for a meaningful alternative. This is where Web3.0 comes in. Its constituency is young and diverse. Statistically, 9% of millennial voters, 73% of Hispanic voters, and 79% of Black voters are more likely to support a candidate who agrees that we should expand Web 3.0. 

Conclusion:

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change” – Charles Darwin.

If the 1st generation of the digital revolution brought us the Internet of information and data, the 2nd generation, now powered by blockchain + AI, as well as NFTs and Web3.0, is bringing us the Internet of value, money as digital assets, and digital twins identity.

We are now at a stage where digital community, token-driven platforms are the go-to platforms reshaping the world of business, healthcare, wellness, finance, and human affairs.

Finance is about managing financial assets. What we are experiencing now is all about technology and data but without forgetting the basics – the relationships between clients/partners.

New technologies are rapidly reshaping the entire financial services sphere. Fintech is no longer the headline, it is now the industry reality. Banks, insurers, and asset managers are knee-deep into the potential of such technologies. These will soon merge with Web 3.0 integration. This is followed by Blockchain, NFTs, and increasingly the Metaverse, where digital twins will become an integral part of our lives.

These technologies are the main drivers helping transform the finance industry and to stay on top of ever-changing consumer expectations. 2022 will be a powerhouse year for substantial disruption in this area.

Dinis Guarda

Dinis Guarda is the founder of intelligenthq.com and an author, serial entrepreneur and CEO of ztudium that manages openbusinesscouncil.org, fashionabc.org, blocksdna.com, lifesdna.com.

He creates and helps build ventures focused on global growth, 360 digital strategies, sustainable innovation, Blockchain, Fintech, AI and new emerging business models such as ICOs / tokenomics.

Dinis is the founder/CEO of ztudium that manages blocksdna / lifesdna. These products and platforms offer multiple AI P2P, fintech, blockchain, search engine and PaaS solutions in consumer wellness healthcare and life style with a global team of experts and universities.

He is the founder of coinsdna a new swiss regulated, Swiss based, institutional grade token and cryptocurrencies blockchain exchange. He is founder of DragonBloc a blockchain, AI, Fintech fund and co-founder of Freedomee project.

Dinis has created various companies namely Ztudium, a tech, digital and AI blockchain startup that builds cutting edge software, big data insights, publishes intelligenthq.com, hedgethink.com, fashionabc.org, openbusinesscouncil.org and tradersdna.com, citiesabc.com among others.

Dinis is the author of various books. His upcoming books “4IR AI Blockchain Fintech IoT Reinventing a Nation“, “How Businesses and Governments can Prosper with Fintech, Blockchain and AI?”, also the bigger case study and book (400 pages) “Blockchain, AI and Crypto Economics – The Next Tsunami?” last the “Tokenomics and ICOs – How to be good at the new digital world of finance / Crypto” will be launched in 2018.

Some of the companies Dinis created or has been involved have reached over 1 USD billions in valuation. Dinis has advised and was responsible for some top financial organisations, 100 cryptocurrencies worldwide and Fortune 500 companies.

Dinis is involved as a strategist, board member and advisor with the payments, lifestyle, blockchain reward community app Glance technologies, for whom he built the blockchain messaging / payment / loyalty software Blockimpact, the seminal Hyperloop Transportations project, Kora, and blockchain cybersecurity Privus.

He is listed in various global fintech, blockchain, AI, social media industry top lists as an influencer in position top 10/20 within 100 rankings: such as Top People In Blockchain | Cointelegraph https://top.cointelegraph.com/ and https://cryptoweekly.co/100/ .

He has been a lecturer at Copenhagen Business School, Groupe INSEEC/Monaco University and other leading world universities.

He is a shareholder of the fintech social money transfer app Moneymailme and math edutech gamification children’s app Gozoa.

Between 2014 and 2015 he was involved in creating a fabbanking.com a digital bank between Asia and Africa as Chief Commercial Officer and Marketing Officer responsible for all legal, tech and business development. Between 2009 and 2010 he was the founder of one of the world first fintech, social trading platforms tradingfloor.com for Saxo Bank. In 2011 he created the B2B platforms socialmediacouncil.org and openbusinesscouncil.org with Jamie Burke.

The post Fintech 7 Big Trends for 2022: ESG, Digital Assets, Metaverse NFTs, Healthcare Fintech, AI Open Finance, Dinis Guarda expands on those in his newest piece appeared first on OpenBusinessCouncil Directory.

Sundeep Reddy Mallu pursued Electrical Engineering at the undergraduate level and began his journey by selling seeds to the farmers in his native place. Grasping the basics from his early years, he postgraduate in management and business administration with Marketing and IT as his majors. He gives credit to this stellar journey that made him adept with Data Science skills and being able to deliver business values to Fortune 100 clients globally.

Sundeep is currently serving as SVP Analytics at Gramener to advise executives on aligning their data science strategy with business vision. He is also responsible for building teams to apply analytics and data visualisation, while also helping businesses adopt a data-driven culture. His keen interest in the application of Data Science and Machine Learning in ESG makes him believe that the action of humanity in the next decade would be critical.

“It’s no longer within 1.5ºC of temperature rise. It’s the case of how far are we overshooting it. This means ESG, as an overall ecosystem is gaining traction. This is evident in the number of companies who are making public commitments to carbon-neutral initiatives. This means that the climate effects are slowly starting to show up in the company top lines and bottom lines.”, he indicates.

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Hilton asked Sundeep about the drivers that helped him apply his skills to agriculture in India. He fondly replies that though India is a country with its own share of challenges, he has been able to provide leverage by introducing simple yet effective technological concepts to farming.

While citing the exemplary work he has done in the country, Sundeep adds, “The kind of solutions that we could bring into the Indian context was way different from the ones in the US, particularly due to the huge difference in the percentage of population dependent on farming as their primary source of income. Therefore, while the AI and ML applications have been in practice for a very long time in the US, India is still experimenting with tailor-made solutions. With startups budding up in the country, there seems to be a whole lot of optimal progress being made here”. 

On this note, Hilton was interested to know what prompted Sundeep to join Gramener. In the words of Sundeep, “The vision of Gramener is about the public impact. While the organisation is a commercial entity, the underlying goal that the founder’s support is the impact it makes on society. The intent is to take the help of data to narrate inside stories to create action so that impossibilities can come to life. Gramener focuses on custom solution-building in pharmaceutical and life sciences, logistics, and ESG.”

He further adds, “Given that our ESG solutions span not just across climate or agritech alone, it’s the fusion of these multiple problems that interlap with each other. And we, being at a position, where we can understand the science part of it the climate standpoint, understanding the solution point of it from a technology standpoint, we are fortunate that we are able to play a small role in this big picture of assisting in the ESG space to our clients.”

On being asked by Hilton about how data is managed, Sundeep tells him that to reduce the noise and create relevant data, technology helps them connect to various data sources. They are also able to aggregate the data, and standardise the data cleaning access and data quality checks, thus reducing the manual effort.

Sundeep told Hilton that three basic ways to maintain data ethics at Gramener involve the collection of only the required data, maintaining standards even while procuring the data from the third party, and aligning the policies while complying with industry regulations.

Explaining the challenges while providing solutions that meet ESG goals, Sundeep says, “The popular culture, folklore, is for companies like big companies consuming every data that they can collate and use it. They have the means and resources to spend on these. When it comes to the ESG space, you already have a limited monetary means that you have. That is a space where we invest a lot of time to optimize that stretch the dollar to the longest possible impact. And getting the data right is a big step in how much you invest. Because each of these solutions has to be maintained in a longer haul. It’s n0t that you built that and it’s done. These are the systems that have to survive and fight any of the windows. Unlike other engagements, ESG engagements don’t give you results in a quarter, they have their long tail where they play and out and they generate value, which means every system that you build has to withstand the test of the time. And that’s where creating a long pull- the total cost of ownership of a solution goes a long way. And hence, starting with data is key”. 

Concluding the interview that promises to enlighten the audiences with its deeper impact and awareness about the challenges in creating a sphere of intersection between technological advancements (AI, Data Sciences, and ML) with ESG, Hilton asks Sundeep to give his views on the future that lies here. “The hunger for data is constant. What we will see increasingly happen in my view is that the access to data would become uniform. The differentiation would not be a lot more different. How data gets put to use for digital making is what will go into a drastic change”, he shares.

About citiesabc.com
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4IR: AI Blockchain Fintech IoT Reinventing a Nation by Dinis Guarda and Rais Hussin (4irbook.com)

Dinis Guarda citiesabc openbusinesscouncil Series is also available as podcast on

Apple Podcasts: https://podcasts.apple.com/us/podcast/dinis-guarda-citiesabc-openbusinesscouncil-series/id1510330391

On Spotify: https://open.spotify.com/show/1vA8KaDaRpJ0mAfpNbfTSF?si=H_WngL4RSOyu1W7VAmM41w&dl_branch=1

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xMDMyMzg4LnJzcw==

Amazon Music: https://music.amazon.com/podcasts/953a5156-823c-4e86-baeb-4fda1128e44c/DINIS-GUARDA-CITIESABC-OPENBUSINESSCOUNCIL-SERIES

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post citiesabc Podcast: Hilton Supra With Sundeep Reddy Mallu On Sustainable Application Of Data For Business appeared first on OpenBusinessCouncil Directory.

Commercial waste from businesses has been a withstanding issue, with GOV statistics estimating that the UK generated 43.9 million tonnes of commercial and industrial (C&I) waste in 2018, of which 37.2 million tonnes (85%) were developed in England.

However, many businesses do want to go greener. A recent report found that over 60% of UK business owners would cut ties with suppliers that broke their environmental commitments. In addition, SME owners across the country are calling for more government funding to help businesses go green this year (87 percent), as over a third state their customers care about what their business is doing for the environment along with their own employees (24 percent).
In light of Earth Day, card payment specialists takepayments Limited have compiled a list of practical but straightforward tips to help businesses and SMEs go greener effectively.

Five eco tips for businesses this Earth Day

1. Invest in recycled paper

It’s all well and good to recycle your office paper and have separate waste bins for recyclable and non-recyclable stuff, but if. Still, if you opt to buy non-recycled paper, it’s counterproductive. Paper production necessitates an enormous quantity of energy.
Use recycled paper for offices to guarantee your company is environmentally conscious. Recycled paper uses 28 percent less energy, and you’ll be helping the UK economy as well (as recycled paper is often made in the UK).

2. Shut down tech properly overnight

Monitors and lights are easy things left on after everyone has clocked out. Making your employees shut off laptops and other equipment at the end of the day is a good way of lowering your carbon footprint. Although this may not significantly lower energy use, it will if you have a bigger office space.

3. Select green suppliers

Using a green energy supplier is a reasonably simple and environmentally friendly move your company can make. Many energy providers generate electricity from sustainable, renewable sources like solar, wind, and hydro. Some offer a combination of energy sources, others guarantee 100% renewable energy, and other stormwater prevention plan companies in houston tx, for instance, look at long-term solutions; assisting businesses with stormwater compliance, Ground Water Investigation/Remediation, Stormwater Pollution Prevention Plan, training and more.

4. Collaborate with other eco-conscious businesses

Do your research and, if possible, collaborate with other like-minded, environmentally concerned businesses. Numerous green partners range from sustainable raw materials suppliers to carbon-balanced office printers and even eco-friendly web hosting.
For smaller businesses, collaborating with other local eco-businesses in things such as giveaways on social media or using their services is a great way to communicate your efforts with your customers and help boost the local economy.

5. Invest in sustainable packaging

Encouraging recycling and reusing is critical in any industry. You could sell branded reusable items like shopping bags and coffee mugs in retail. If you own an office, make sure you have the appropriate recycling bins and encourage your employees to use the best green practices, as we do at Solve.

Even the most minor things don’t cost anything, like encouraging staff to bring their lunches in reusable containers. You could even give them branded eco lunch boxes –good marketing for your company and the environment!

Sandra Rowley at Takepayments Limited , said,

“Days like Earth Day are a reminder for all of us to keep incorporating minor changes in our business practices. People more than ever are looking to buy from businesses that incorporate the most ethical and eco-friendly friendly practices. Consumers are becoming more environmentally conscious every year, and companies need to adapt to that demand if they want to thrive long term.

Whether your organisation has the budget to invest in more long-term strategies or whether you’re an SME who wants to make small changes while getting the business off the ground, making a conscious yet committed effort towards sustainability will be rewarding not only for your business but also yourself.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Earth Day: Five Easy Tips To Help Businesses Go Greener appeared first on OpenBusinessCouncil Directory.

Change is a powerful feature. It reshapes global business and society (as a whole). As the emerging technologies turn human-centric in their nature, financial services are also facing a breakthrough in their conventional mechanisms. This is pivotal in its evolution into a more sustainable and inclusive industry altogether. This evolved version promises to restore public trust, with almost no trade-offs between yielding profits and ensuring positive social impact.

The financial services are undergoing disruptive innovation due to key driving factors- evolving customer expectations, rapidly advancing technologies, and changing landscape of regulatory grounds. Fintech innovations like cryptocurrencies, Big Data, and peer-to-peer lending are grabbing the attention and imagination of investors and customers.

Creating the Future: a Hacker’s Guide to Financial Services is a comprehensive report powered by Finastra FusionFabric.Cloud, where over 50 contributors have shared over a hundred predictions on the financial future. The report by Fintech Talents (by VC Innovations Ltd.) creates a relevant narrative, depicting some of the intriguing insights over what trends are going to redefine the future of our existing financial and banking system.

Path-breaking solutions to carve out better financial systems

ESG (Environment, Social, and Governance) for a sustainable finance

Over the past few years, the ESG criterion is a popular key metric that investors use to evaluate businesses. The parameters that decide the ESG criteria differ as per the industry standards. The environmental criteria could include everything from energy usage to how waste is disposed of, and even the treatment of animals.

On the other hand, the social criteria are primarily related to a company’s conduct with its stakeholders and its business relationships. This includes its treatment of the suppliers, the relationship with the surrounding community and the social impact it makes on them, or even the conditions of its employees.

Governance criteria, however, have traditionally been an afterthought. Nevertheless, its true meaning is changing, being relatively pertaining to environmental and social issues. Everything from executive pay to shareholder rights, or internal controls- are all relevant to investors within this criterion.

Contributors to Fintech- investors, consumers, and incumbents believe that the industry plays a central role in finding unique solutions to the challenges posed by ESG. The EU Sustainable Finance Disclosure Regulations were introduced in March of last year. This was followed by a roadmap published by the Treasury in the month of October that outlined new Sustainability Disclosure Requirements.

This is to continue with the development of the frameworks for appropriate regulation and reporting of ESG in financial services. Gartner reported that 85% of investors considered ESG factors in their investments in 2020. This illustrates the rapidly growing importance investors place on ESG issues.

While sharing his concern about the inadequate upgradation measures, Dinis Guarda, founder of intelligenthq, citiesabc, and openbusinesscouncil says for the report by Fintech Talents, “According to an estimate by OECD and World Bank, an investment of 6.9 trillion will be required by 2030 to meet the ESG targets for climate and development. The current spending on infrastructure is no more than USD 3.4 – 4.4 trillion, lagging significantly behind what is required”.  

The year 2022, for Mohamed Moullouze, Chief Innovation Officer at Attijariwafa Bank, will be the year for FS firms to make a progressive effort in bringing ESG products and services within the market. From green loans and mortgages to carbon tracking capabilities, and sustainable account checking- the innovative financial features are much awaited in the markets.

Embedded Finance ensures Bank as a Service (BaaS) experience for the consumer

Embedded finance is a seamless integration of financial services into a platform that has been functioning non-financial traditionally. For example, a ride-hailing app (like Uber) can accept cashless payments being made by its users on its digital platforms like apps and websites.

Adding the FS feature to business, retail, and corporate customers to a point where they would prefer the consumption of services is BaaS. This makes it convenient for the customers to access these services even at third-party interfaces. Now, to remain relevant, the banks must adapt to this evolving trend by collaborating with service providers, distributors, and enablers. To meet the scalability targets, an open API platform-based approach could be implemented.

Almost every vertical of the finance ecosystem has been impacted by embedded financing. From offering insurance for home appliances at the point of purchase to buying parking through Google Maps- everything is possible with the ingression of embedded finance.

Today, there is virtually no part of the finance ecosystem that hasn’t been impacted by embedded finance. Everything from offering insurance at the point of purchase for home appliances to purchasing street parking through apps like Google Maps has been made possible due to the spread of embedded finance in everyday experiences.

Big players like JP Morgan (who is using some of its $12bn of its tech budget over the next year for developing embedded finance), Goldman Sachs (announcing its own BaaS portal for developers), and Barclays (launched Rise Start-Up Academy for fintech entrepreneurs) are coming up with innovative ways to make the most of the upcoming trend.

“I think more specialisation per underserved industries will see new embedded finance collaboration occur in 2022. Aside from just payments and investments, I think the next evolution ventures into the area of royalties and affiliate compensation solutions that leverage the same concepts for creators” Australia Hoover, III, CEO, CDC Federal credit union.

Open banking and embedded finance, combined, could open up numerous gates for an inclusive ecosystem. This means the lenders and borrowers from all financial backgrounds could be allowed to participate equally on common grounds. With an increasing number of use cases for embedded banking, every business can potentially become a Fintech that provides more frictionless and personalised services.

Decentralised Finance (DeFi)

DeFi is the umbrella term for all blockchain-based financial apps. These apps offer (and perform) conventional banking services over a platform that is mostly based on smart contracts. These smart contracts negate the involvement of any middleman or broker for the culmination of financial transactions.

“Decentralisation is the term of the day – everyone is speaking about it,” says Dinis Guarda, Founder of intelligenthq, citiesabc, and openbusinesscouncil. “DeFi is not just a trend; it is clear that an average person is tired of centralised money supply control; the unprecedented growth of Bitcoin and other cryptocurrencies proves that.”

It is his belief that the advent of a new financial era with the rising DeFi and Web 3.0 trends offers new avenues for the diverse user base to engage interactively with finance. Speaking specifically in the context, Guarda adds “The current financial system is not working for everyone, it is clear. The communities that have been unable to build generational wealth are looking for a meaningful alternative”, for the report by Fintech Talents.

There have been significant barriers to entry with conventional financial systems. Traditional financial institutions consensually required complex infrastructure, well-trained staff, and intricate IT backend systems to ensure regulatory obligations. DeFi simplifies this system overall. Users can engage themselves in frictionless transactions- borrowing, lending, insurance, liquidity, and compound- all on one platform. DeFi is evolving as the innovation advances, though, there are still many challenges that DeFi will need to address.

Platformification

The accelerated digitalisation of products, services, and processes has altered the traction banks followed for over years. The pandemic itself was enough to project the loss of agility in the traditional banking system.

The API-enabled fintech ecosystem dramatically changed the outlook of financial services. This clearly depicts that a platform provides the required flexibility and innovation while imparting the simplicity of transactions in a most cost-effective manner.

Platformification enables financial institutions to offer a wider range of products and services to their customers using a plug-and-play business model. Collaboration and innovation are at the heart of a successful platformification plan. With a product mix, the traditional financial institutions can benefit from the innovations and embrace APIs. As easy as it is said, achieving these goals could be quite challenging for these institutions.

As more and more customers are getting accustomed to taking advantage of countless services at their fingertips, accessing a wide array of financial tools at a single platform is a preferred mode. This is why despite established brand names, banks operating in traditional ways are unable to support the features that users expect.

“The Banking as a Platform model allows FIs to securely expose their platforms to fintech and developers in the cloud via open APIs. Trusted third parties can access and build on top of existing FSI platforms and FIs can augment their services with third-party offerings and make these new services available to customers through their Super Apps or channels. It’s all about becoming part of their customers’ lifestyle rather than simply being a banking app”, says Özkan Erener, CEO of VeriPark.

Platformification establishes an ecosystem that offers the right products for the clients on a single platform like WeChat. This ensures retention and resilience amongst the customers even in an increasingly competitive environment. Specialised services that particularly target the niche audience create fintech sub-sectors like wealthtech and insurtech that could leverage the financial services for a better future.

Financial services are evolving for a sustainable future

The community of innovators is quirky to be able to see what is coming for the future, not just what is happening now and here. They are able to capture and predict the impact new services and products will make on the evolving needs of the customer. What the stakeholders’ demand is more transparency and accountability from FIs. This requires improved financial performance while meeting regulatory compliance. Nevertheless, the most important attribute for a successful financial process is the ability to articulate the unique culture of the society and amalgamate it with the evolving trends.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post How Innovation And Sustainability Carve The Future Of Financial Services appeared first on OpenBusinessCouncil Directory.

This shows a clear sign of the increased desire to invest in something which investors will hold a personal connection with, being given the chance to visit their investment into their local community and feel valued when they attend. One prime example of this is IW Capital CEO Luke Davis, who as a resident of Hove, has led a multi-million pound investment and renovation project on the seafront, creating a community hub and world-class entertainment venue known as Rockwater Hove (https://rockwater.uk). Part of this raise was a round open solely to residents which raised over £1 million.

It was a pivotal year for the Enterprise Investment Scheme also, with it being predicted to show equally impressive gains going into 2022. Since its inception in 1993, the Enterprise Investment Scheme has raised over £24 billion in funds for almost 33,000 companies. This trend continued into 2020 with a total of £1.9 billion of investment being raised by 4,215 companies. With over 6 million SMEs in the UK, making up 99.9% of private sector businesses, EIS is an essential tool to accelerate the country’s SME landscape. Providing such pivotal support to the backbone of the economy, if the EIS scheme were given greater muscle to assist startups and scale-ups to traverse the challenges posed by the post-Covid economic arena, it could provide for a boost for the UK economy as a whole.

Whilst there is still uncertainty in the investing world, along with obstacles caused by the Omicron variant, it seems the way investors are choosing their investment has changed and they are increasingly choosing investments which not only benefits their financial gain but also their local community and the environmental impact which their investment has. This seems to be here to stay heading into 2022.

Luke Davis, CEO of IW Capital discusses:

“This past year was certainly a momentous year in the world of investing. The pandemic has had an impact on the UK in ways that we could never have predicted, it has created a new class of investor, one more concerned with the impact their capital is having and the difference it makes to their local area.

“Given the chance, investors are more eager than ever before to make their financial decisions with altruism in mind. That is not say they don’t need good returns, but that if they can, doing good with their money is now a priority and this, I believe will be an important trend throughout 2022.

“Investing has never been more emotionally charged after a year where the social, environmental and medicinal good of companies has been in sharp focus. Individuals now want to back companies that can prove they are beneficial to the local area, either through employment, redevelopment, or community outreach. This comes alongside what the firm is doing on climate change and carbon emissions which is, as ever, increasingly important. 
 
“The EIS could also be an important trend throughout 2022. The EIS can be said to offer a win-win situation for both investors and small businesses – providing SMEs with much-needed investment to provide them with a platform to grow, whilst providing investors with tax reliefs to incentivise this investment. Small businesses and SMEs throughout the UK have benefitted enormously from the EIS in the last 25 years, fuelling growth and job creation at an impressive scale. SMEs are becoming so inventive and versatile with their companies and making sure they are at the forefront of the UK business scene. SMEs are an indispensable part of the UK economy and the outlook for the festive period is a reward for their constant hard work.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post ESG Investing and EIS Set For Substantial Growth In 2022 appeared first on OpenBusinessCouncil Directory.

Jonathan Sims Interview Focus

1. An introduction from you – background, overview, education…

2. How did you cope with your academic and corporate career?

3. Can you tell us about your MBA and DBA fields of research?

4. Can you tell us about the industry verticals you have been involved in – from change management, to legacy systems, environment, talent management, drive to zero carbon, digital twins, digital transformation…?

5. How can businesses cope on a practical level with carbon neutral solutions?

6. Engie SA is a French multinational electric utility company, headquartered in La Défense, Courbevoie, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum. Stock price: ENGI (EPA) €11.56 -0.05 (-0.45%), Headquarters: La Défense, France, CEO: Catherine MacGregor (1 Jan 2021–), Revenue: 60.1 billion EUR (2019), Number of employees: 171,100 (2019), Subsidiaries: Cofely AG, Electrabel, ENGIE Home Services, more. Parent organizations: Sofina, Agence des participations de l’État, Equans… Can you tell us about Engie company / companies, organisations and focus?

7. How do you see Carbon Neutral solutions for business?

8. How can businesses cope on a practical level with carbon neutral solutions?

9. ESG is a critical element of our business, society and government focus. How do you see Environmental, Social, and Corporate Governance data refers to metrics related to intangible assets within the enterprise, a form of corporate social credit score. Research shows that intangible assets comprise an increasing percentage of future enterprise value?

10. When it comes to supply chain and procurement with your experience working with hundreds of thousands, what are the most important subjects in order to simplify these big topics for SMEs and businesses?

11. How do you see the geolocation challenges when it comes to supply chain, carbon neutral and the ESG challenges?

12. How do you see your areas of expertise when it comes to #enterprisevalue, #corporatestrategy, and #culturetransformation / change management?

13. Can you highlight some concrete examples on how you deal with challenges and politics in the big organisation you have been working in?

14. You have been working in the energy and previously in the construction industry, very conservative and legacy industries. How do you see these industries when it comes to innovation and digital transformation?

15. How do you see Society 5.0 – 4IR concepts?

16. With Covid-19 what ways do you envision to redesign our society with technology and social impact?

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Jonathan Sims Biography

Jonathan Sims has 25 years of experience in the construction, engineering, and energy sectors.  Jonathan originally qualified as a development surveyor and brings significant knowledge of asset management, land acquisition and commercial property development.  Jonathan Sims has worked for two of the largest privately owned construction and engineering groups in Europe, in varied roles from strategic business projects, human resources, procurement and business transformation.  Currently, Jonathan Sims works as the CPO for the French company ENGIE/EQUANS where he manages an annual spend of £1.2bn on goods and services with a team of c65.  In this capacity, he holds expert knowledge in risk management, people development, zero carbon solutions, due diligence, and responsible business practices.

Jonathan said about his experience: “Having worked across a range of industry leading businesses, I have enjoyed senior level exposure to multiple business functions and projects including work winning, strategic procurement and supply chain management, organisational culture and strategic human resources, business transformation and general management.”

Jonathan Sims has a strong connection with academia and holds four university degrees, including an MBA and a Doctorate in Business Administration (DBA). Jonathan Sims is very well versed in delivering cultural change programmes and managing transformations within organisations. Jonathan has been an external advising practitioner to Nottingham Business School for the past 9 years.  Jonathan is also a guest lecturer at Durham Business School on the executive MBA and DBA programmes.

As CPO of ENGIE/EQUANS

Jonathan Sims is the Chief Procurement Officer of EQUANS, which is the joint venture of ENGIE UK & Ireland’s services-led activity under a new brand.

All of ENGIE’s UK & Ireland activity in technical services & facilities management, energy efficiency and regeneration are now part of EQUANS – along with their specialist energy related capabilities: smart buildings, green mobility, district & embedded energy and decentralised renewables.

EQUANS was formed by ENGIE Group in July 2021 as a new global market leader in the sector with 74,000 employees, leveraging 200 years of expertise. It has revenues of €12 billion and a presence in 17 countries. EQUANS is a company of ENGIE.

Industries, cities and businesses face unprecedented, ever-renewing challenges. The energy, digital and industrial transitions are redesigning the way we use and optimise energy towards a net zero carbon future, the way we move, work and live. Buildings are increasingly efficient and intelligent, transport greener and connected, industrial production improved and controlled.

EQUANS empowers transitions both for today and tomorrow.

Vision

Digital Transformation in Industry

“There is a huge amount of change that is hitting a business that is typically, a sector that is typically quite slow to respond to some of those changes. And there is a real burning platform around. So the issue probably keeping us awake at night is the EDA agenda, and our need to be more representative of society and inclusive. And there is a myriad of academic papers written on just how male, pale, and stale the construction and engineering sector is and that starts to impact on our ability to attract the brightest minds into the sector. The drive to zero carbon by 2050 has a huge impact on our sector and our organisation, so Enji globally as a business contributes 0.5% of all carbon, so we are a huge carbon-heavy organisation, that is a phenomenal challenge for us”.

Carbon Neutral solutions for business

“I mean it’s a, the focus on carbon at so many different levels, whether it’s from clients, whether it’s from government, whether it’s from our own supply chain, it’s huge and it is a phenomenal burning platform for us, and I think for me, where everybody is striving to get to at this moment in time, we have a team within Enji that are procuring carbon neutral team. The driver for us at the minute is to baseline and to have that really robust understanding across more than a 100 thousand vendors. I was heat-mapping where our carbon is actually coming from at scope 3 level. So it’s about understanding which services and which categories of spend and which subcontractors are the biggest contributors and how we can target the reduction of that embodied carbon. And it has a myriad of focus areas. It is about looking at alternative methods of delivery, be that moving to prefabricated solutions where applicable, reducing the embodied carbon in finished products and looking at the selectivity of products that we bring in”.

Links And Sources

https://www.efficioconsulting.com/en-gb/resources/insight/the-first-100-days-interview-with-jonathan-sims-chief-procurement-officer-uk-ireland-at-engie/

https://www.linkedin.com/in/dr-jonathan-sims-bsc-msc-mba-dba-fcips-81420064/

https://www.b2e-media.com/thedigitalinsight/jonathan-sims-cpo-engie-and-a-massive-procurement-transformation

https://issuu.com/b2e-media/docs/05.engie_cpostrategymarch2020

https://www.arounddeal.com/profile/jonathan-sims/p9kvxkeiom/

https://www.supplychainschool.co.uk/partners/engie/

The first 100 days – tips and advice for new CPOs, interview with Jonathan Sims

https://www.youtube.com/watch?v=5exGCQwbjBo

Jonathan Sims, Chief Procurement Officer, ENGIE, and a massive procurement transformation

https://poddtoppen.se/podcast/1450714884/the-digital-insight/jonathan-sims-chief-procurement-officer-engie-and-a-massive-procurement-transformation

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Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Jonathan Sims – CPO ENGIE/EQUANS – Carbon Neutrality, ESG, Change Management, Procurement & Businesses Challenges appeared first on OpenBusinessCouncil Directory.