The new finances in the Digital World

The past 4th and 5th of July we had the opportunity to participate in the Summer Course of the University of Santiago on "As novas finances no mundo dixital". Organized by the Faculty of Economic and Business Sciences, the Delegation in Galicia of the IEAF and the Abanca Foundation, among others, allowed to raise awareness and deepen the challenges that the financial sector is facing after the growing digitalization of the global economy , a process that, without a doubt, does not have a reverse: the irruption of new digital competitors, the normative changes, the new role of the client in this context, etc.

As a counterpoint to all these changes, some of the measures that financial institutions are carrying out to adapt to this new environment and to meet the demands of new digital customers, much more informed, demanding and qualified than customers, were also exposed. of traditional banking. One of the conclusions drawn from the presentations is that the blockchain technology will play a fundamental role to give security, immutability and confidence to many of the banking operations that are taking place at present.

The experience also allowed other entrepreneurs from the Galician Fintech world to present their experiences in the sector, and start ups such as those led by David Conde (SENSEITRADE), Luis Taboada (QBITIA) or Xoan González (SETPAY) had the opportunity to share their vision of financial business from the point of view of the FINTECH companies, which will undoubtedly be one of the key players in the new paradigm that is taking place in the global financial sector.