FintekNews is pleased to offer our weekly feature column “3 Questions”. Each week, we feature a thought leader within a unique sector of fintech and ask them to answer just 3 questions for our audience in their vernacular. This week we are pleased to introduce you to Paolo Sironi, IBM FinTech Thought Leader & author of a new book about fintech innnovation.
NAME: Paolo Sironi
TITLE: IBM FinTech Thought Leader
COMPANY: IBM and Author of “FinTech Innovation: from Robo Advisors to Goal Based Investing and Gamification”
WEB ADDRESS: www.thepsironi.com
How did you personally become involved in fintech?
After 10 years as head of market and trading risk management in Milan, I thought of creating a new company in Frankfurt back in 2008 to foster innovation in Asset and Wealth Management using API technology and Behavioural Finance principles to change the way individuals relate to their money and investments. Today, this would be called a white label Robo-Advisor of new generation. The company was bought by IBM in 2012 together with funding partner Algorithmics, world leader of risk management architectures and previously owned by Fitch Ratings.
What is your role within your firm and what do you do there on any given day?
Since I joined IBM I became Spokesperson for IBM Investment and Risk Analytics globally. I travel world wode 70% of my time, learning from and sharing with clients, delivering keynotes at conferences, visiting FinTech entrepreneurs and presenting my two books, particularly last book FinTech Innovation.
I attempt to link FINance and TECHnology to promote digital transformation coupled with Goal Based Investing and sound investment analytics. I try to cast a rational and practical vision inside this noisy industry of financial services, looking beyond the many FinTech buzz words. I don’t care about disruption in itself, I care about the elements and business models which help to outthink disruption so that investments in innovation lead to better businesses, not just cheaper offers.
What do you believe the next major innovation in financial technology will be and why?
I believe Gamification has the chance to play a relevant role in reshaping financial services because it can help individuals to learn new and less myopic ways of investing, as well as financial institutions to grant effective training to their employees on the new investment narrative which is imperative in the digital world. Personalize personal finance is also about education, it requires digital solutions, less product marketing, more contextual information about individual needs and a stronger engagement model. That is what games are for, they are here already. It not yet explored by banks nor FinTech. I bet on it, all in my new book FinTech Innovation.
Paolo Sironi is a recognized author of portfolio management and financial innovation. In his current role as FinTech Thought Leader and Spokesperson for IBM Investment and Risk Analytics, he links strategic innovation in Finance and Technology, demonstrating international expertise in Wealth and Asset Management, Risk Management, Trading and Technology.