About the Project
The Covid-19 pandemic continues to reverberate across global societies, causing us all to adjust to new realities such as working from home. There is no doubt that the economic crisis brought about by the virus’ impact will trigger deep changes in all of our lives.
Some businesses are thriving and proving mission-critical to ensuring that everyday life goes on. Many more face huge uncertainty in the months ahead, adapting to new ways of working, while being forced to make cost savings in an attempt to mitigate the impact of the crisis.
The financial world is, of course, no different. The challenges facing our FinTech sector are equally significant. Despite such immense uncertainty, I have been amazed by the response of the FinTech community to this crisis. Now, more than ever, is the importance of innovation and progress in financial technology truly apparent – and it is clear that the UK is especially well positioned to demonstrate this.
FinTech was born from the 2008 financial crisis and the recession that followed. Since then, technology and innovation have transformed finance, with consumers and businesses alike benefitting from many new products and services.
I strongly believe that FinTechs will continue to play a critical role as we emerge from this crisis. That is why I am so excited about the Innovation in Finance series, produced for Innovate Finance by BBC StoryWorks Commercial Production this series of films will be advertised across BBC.com sites globally, as well as across social media.
In addition to showcasing some of the most exciting developments in the industry today, Innovation in Finance will ultimately evolve into a first-of-its-kind documentary telling the story of the global FinTech ecosystem. BBC StoryWorks crews have already filmed across five continents to bring to life the stories of people whose lives are being made better and easier thanks to FinTech – many of which you can view on this website today.
Throughout each film, we are introduced to the perspectives and challenges of a diverse range of business owners, users and those building careers in this dynamic sector. Each story will be used to illustrate the state of finance today, and its future as technology continues to advance dramatically.
By bringing such stories to life, our hope is that we will be able to spark a conversation around the importance of financial inclusion and the democratisation of financial products and services for everyone.
In so doing, we have encountered extraordinary female leaders in the sector who are contributing towards these objectives, as well as young innovators who are reshaping an industry with the benefit of a fresh and renewed perspective. Such individuals will inevitably play an increasingly important role in the future of finance.
Innovation in Finance identifies and communicates FinTech solutions as they are applied to unique, local problems worldwide, demonstrating the growth of a UK-originated trend that has evolved to become a truly global phenomenon. “Traditional” financial institutions collaborating with FinTech innovators is an increasingly common occurrence, emphasised by the diversity of organisations involved in this project.
After first being shared with the Innovate Finance community, this series of films will be promoted across BBC.com sites globally, as well as across social media. I am extremely excited to gauge the reaction of such a widespread audience to our industry’s cause.
Undoubtedly, this collaboration comes at a fascinating time for the sector, as technology and finance continue to become intertwined. I believe this series will act as an important tool to raise awareness among audiences as to how FinTech is changing lives – including their own. The last few weeks have reminded us just how critical these changes really are to our lives and work.
The importance of using new technology to support and improve business has become crystal clear. There is little doubt that we will see the speed of digital transformation across the economy accelerate in the months that follow. I fully expect the revolution of FinTech to extend from banking innovation and to take root across sectors such as insurance, wealth management, asset management and pensions.
I truly hope you enjoy the series of films produced so far, and look forward to sharing the final documentary with you once filming is able to be completed. This series seeks to demonstrate that innovation in financial services really does have the ability to make a huge difference to our society. How we respond now will shape our economic development in the coming years.
Charlotte Crosswell, Former CEO, Innovate Finance