Ground-breaking FinTech initiatives already exist in Guernsey and more are in the pipeline, delegates at a GIFA Funds Academy session heard this week.

Among them was Ogier's Frances Watson, a partner in Ogier's Guernsey corporate team.

"FinTech (Financial Technology) isn't just an asset class, it's a whole new area for growth within the financial services space," she said.

"The list of ground-breaking FinTech initiatives which already exist in Guernsey is breathtaking – from Elian's ID solution and PWC's Alderney-based KYC centre of excellence, to Dorey Financial modelling.

"Other initiatives to maintain the Island's reputation as an innovative yet secure place to do business, such as the development of a cyber security certification standard, were interesting to hear about."

Insights from this FinTech Academy session aimed to demystify the jargon and bring FinTech to life, from the ways in which technology can enhance a business, as well as new businesses entering the market and how they are going to disrupt the way in which traditional businesses operate.

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