A 20 minute talk from Markus Lampinen CEO of Difitek. Markus is a fintech entrepreneur and serves as the CEO of Difitek Inc, a San Francisco based financial services back office technology company. Difitek provides an API-first back office that standardizes, automates and enables intelligent connectivity of financial processes.
We explore the advancement of automation, which has been significant in the past decades, but now speeding up with new technologies such as blockchain and distributed services.
- Humans demand better services and offerings, 24/7 access and real time service, pushing more automation.
- Software engineers are becoming the ‘bankers of the future’ via fintech and their impact in writing new fintech applications
- AI is becoming predominant and will soon not only advise individuals but even act on their behalf (self buying AI bots, self driving cars etc)
- Distributed applications bring more ownership of data for individuals and empower them to even challenge large internet companies as owners of their own data
- But automation is getting to the stage that it needs to be intelligent too. We need intelligent algorithms, otherwise we’re only going to create stupid processes (that no one will want to use).
- This intelligence comes from the ecosystem, from connectivity and from new data sources. It understands your need and it solves it, whether its a loan or portfolio management. But it solves your problem in a novel way, something that will look vastly different from todays banks.