Hyperfinance named best thought leadership paper
09 Oct 2017
Simmons & Simmons’ Hyperfinance campaign has been awarded Best Thought Leadership Paper at the Investment Week Fund Services Awards 2017
The Fund Services Awards celebrate companies that offer cutting edge services and solutions to those involved in the fund management industry.
“We are delighted that the value of the research underpinning our Hyperfinance report has been recognised by this award. The research was prompted by the wide range of FinTech work the firm does both for FinTech businesses and established financial institutions and asset managers. This award reflects the ever increasing impact that the FinTech sector is having on asset managers.” - Angus McLean, Partner.
Hyperfinance studies the relationship between fintech start-ups and financial institutions. The firm surveyed 200 senior level respondents (30% at c-suite level) across five financial centres to investigate why most large institutions in the financial services sector are struggling to innovate quickly enough. Key findings:
- 71% of respondents report that cybersecurity is the most significant risk associated with partnering with FinTech firms.
- Approximately one third expect to acquire a FinTech firm within the next 18 months. Of the remaining two-thirds, 45% cite concerns about regulatory risk as a key deterrent.
- 55% are building in-house capabilities. With disruption at the door, incumbents accept the need to partner and move faster, but say they are poorly equipped to do so.
- 53% say that there is an institutional desire to own the IP when working with FinTech firms, which can stand in the way of effective collaboration.
- 38% say establishing new business units for FinTech has been the most effective in improving their digital innovation, putting it ahead of other strategies that firms are pursuing.
So far the research has received 50 pieces of international coverage and over 1,000 downloads.