FinTech Boom: Chance oder Bedrohung für den Finanzplatz Schweiz? Zürich, 29. September 2015 T. Puschmann

Transcription

1 FinTech Boom: Chance oder Bedrohung für den Finanzplatz Schweiz? Zürich, 29. September 2015 T. Puschmann

2 Investments in innovation are currently primarily driven by FinTech companies cooperation with FinTech companies therefore is key Banks` Innovation Spending Average yearly growth rate (simplified) Non-banks` Innovation Spending Average yearly growth rate (simplified) 48.4 billion USD?* (estimated for 2017) 60 billion USD?* (estimated for 2017) Banks don't show up on the Global Innovation 1000 largest copmanies spending report* They are lumped in to the other category of all industries * Sources: - Jaruzelsky, B., Staack, V., Goehle, B, Global Innovation 1000, PwC Strategy& Inc., New York (NY) - Lodge, G., Zhang, H., Jegher, J., IT Spending in Banking: A Global Perspective, Celent, Boston (MA) Swiss FinTech Innovation Lab / 2

3 Thus, FinTech has become THE key topic in all financial centers around the world Swiss FinTech Innovation Lab / 3

4 But FinTech innovations are currently created outside Switzerland although Switzerland / Zurich ranks high in many areas New York Silicon Valley London Zurich Swiss global competitiveness ranking Hong Kong Zurich global financial center ranking 5 7 Swiss global innovation ranking Swiss global offshore wealth ranking 1 Singapore Sydney Legend: existing in conception does not exist / no plans yet Comment: Dublin, Tel Aviv, etc. are other locations, which do currently not have relevant investments. Swiss FinTech Innovation Lab / 4

5 How can we bring Zurich on the global FinTech map? Source: U

6 Oliver Bussmann / UBS Networked innovation in ecosystems is key Source:

7 We currently observe a paradigm change in innovation from a linear to a networked model Today: Linear Model Future: Networked Model Idea Generation Conversion Diffusion Innovation Ecosystem Governm. & Regulator Governm. & Regulator Universities Start-ups / Incumbents Innovations Universities Innovations Start-ups / Incumbents Angels & VCs Angels & VCs Diffusion Swiss FinTech Innovation Lab / 7

8 But what are the «ingredients» of a successful innovation ecosystem? Collaboration: Strong research and innovation and very close (physical) collaboration of science and practice Money: Research and investment capital Culture: Attract leading persons from science and practice and increase entrepreneurship culture Professor (and Provost from 1955 to 1965) Frederick Terman worried about a brain drain of Stanford graduates to the East Coast, where jobs were plentiful. So he worked with President J.E. Wallace Sterling to create what Terman called a community of technical scholars in which the links between industry and academia were fluid. Source: Berlin, L., Project Historian for the Silicon Valley Archives at Stanford University The Man Behind the Microchip: Robert Noyce and the Invention of Silicon Valley. Swiss FinTech Innovation Lab / 8

9 A new «Swiss FinTech Innovation Lab» shall coordinate the innovation value chain and the corresponding ecosystem Swiss FinTech Innovation Lab Wissenschaft Disziplinen Wirtschaftsinformatik Banking & Finance Informatik Partnerinstitutionen UZH ETH ZHAW Ideengenerierung z.b. Open Innovation Konversion z.b. Prototyping Diffusion z.b. Start-up-Gründungen Praxis Banken (Rück-)Versicherer Dienstleister Regulatoren (Finma) Startups Inkubatoren Accelerators Funding Angels Venture Capital Unt. Komm., Marketing & Event Plattform (Standortmark., etc.) Übergreifend Strategy & Governance (Steering Committee) FinTech Compliance (Finma) Funding Platform (Angels & Venture Cap. Unternehmen) Infrastruktur (Co-Working Spaces, Housing, etc.) Start-up Support, Steuern, Visa, etc. (Kanton & Stadt ZH) Swiss FinTech Innovation Lab / 9 Swiss FinTech Service Plattform

10 Benefits of the Swiss FinTech Innovation Lab Establish new research programs around digital banking and insurance and strengthen international competitiveness of the Swiss financial center. Improve innovation transfer to banks and insurance companies (intrapreneurship), increase the number of start-ups in relevant areas (entrepreneurship) and ensure a leading position in global innovation. Establish new education programs and link them with existing programs and ensure long-term employment in the Swiss financial services industry. Swiss FinTech Innovation Lab / 10

11 Swiss FinTech is about collaboration Swissness 1307 Swissness 2014 Swiss FinTech Innovation Lab / 11

12 Thanks for your attention!