{"id":7494,"date":"2021-03-24T04:46:53","date_gmt":"2021-03-24T08:46:53","guid":{"rendered":"https:\/\/www.sage.com\/en-ca\/blog\/?p=7494"},"modified":"2026-01-16T04:51:15","modified_gmt":"2026-01-16T09:51:15","slug":"what-does-the-future-of-fintech-look-like-csr-accessibility-and-gen-z","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ca\/blog\/what-does-the-future-of-fintech-look-like-csr-accessibility-and-gen-z\/","title":{"rendered":"What does the future of FinTech look like? CSR, accessibility, and Gen Z"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tToday's tech<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tWhat does the future of FinTech look like? CSR, accessibility, and Gen Z\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Chris\t\t\t\tChris Gledhill<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n\n\n

The Sage Finance Futurists<\/a> are a diverse group of finance leaders from a variety of sectors and backgrounds. They have been recognised for driving innovation and showing leadership across businesses of all sizes.<\/p>\n\n\n\n

I recently had the pleasure of interviewing one such futurist, Aqsa Zubair<\/a>, to get her unique perspective on ten hot topics in FinTech.<\/p>\n\n\n\n

Aqsa Zubair is a FinTech specialist currently working at the Bermuda Monetary Authority.  She is responsible for leading regulatory authorisation and supervision efforts for digital asset businesses and digital asset issuances, and for instigating and advancing FinTech and blockchain innovation. An ex-entrepreneur, she\u2019s co-founded two businesses in technology and social entrepreneurship.<\/p>\n\n\n\n

Aqsa\u2019s passion and progress have earned her a seat at the delegation of Blockchain for Impact at the United Nations Headquarters for discussions on using technology to support their sustainable development goals. Sustainable Finance and ESG (Environment, Corporate and Social Governance) is a real talking point in FinTech right now.<\/p>\n\n\n\n

Last year, Aqsa co-founded Cryptocamp, Canada\u2019s first Cryptocurrency un-conference, making a wealth of FinTech and Blockchain learning sessions available to hundreds of executives, students, and entrepreneurs. Her goal is to foster greater Blockchain and financial literacy in her community, and discuss issues hindering the wide adoption of FinTech. I was keen to get her thoughts on all things FinTech, from Corporate and Social Responsibility to education, the pandemic, and beyond.<\/p>\n\n\n\n

CSR is gaining traction in FinTech and the wider sphere of financial services. Is this a passing trend or is there real currency in conscience?   <\/strong><\/p>\n\n\n\n

I do not see this as a passing trend, rather the beginning of a societal norm, expected of all important stakeholders of any organisation large or small. There is more emphasis now than ever before on improving the society we live in to ensure it thrives. <\/em><\/p>\n\n\n\n

Working, particularly in a digital era, has increasingly merged the work self with the personal self. People want to be a part of organisations that align with their value systems. As such, the employee, customer, and client are evolving, and the organisation must cater accordingly to retain and grow its relevance and position within the market<\/em>\u2014meaning, yes there is currency in conscience.<\/em><\/p>\n\n\n\n

The current trends in CSR are set to expand. Organisations\u2019 CSR makeup will reflect their stakeholders, including the causes and initiatives their investors, staff, customers, and target market support. For example, as we have noted from recent investment market developments, providing financial literacy is an opportunity. At the introductory or intermediate level, it opens up mainstream financial services to those who have historically not participated or have not had the opportunity to participate. For companies who do this sustainably, it opens up an entirely new customer base that wants to engage and access existing or new financial products.<\/em><\/p>\n\n\n\n

How much is Financial Literacy an education challenge for consumers and how much is it an explanation challenge for financial organisations?<\/strong><\/p>\n\n\n\n

Financial literacy is much broader than an education challenge for consumers, or explanation challenge for financial institutions. It is framed by the societal infrastructure that has historically excluded its merit in education. <\/em><\/p>\n\n\n\n

From a young age, students learn about the intricacies of science, math, and history as a means to understanding the universe. But the education system fails to teach them how to bank, save and strategically invest. When these same students become customers of financial institutions, the gaps in knowledge begin to surface. <\/em><\/p>\n\n\n\n

In the last decade, we\u2019ve seen FinTech changing this problem statement by building technology-enabled financial products that aim to both educate the consumer through quick videos, complex financial decision-making automation, and general financial services guidance, and build a loyal customer base. <\/em><\/p>\n\n\n\n

Today\u2019s digital customers expect financial services to be intuitive, user-friendly and offer them what they need, when they need it, and in language that is easy to understand. The more financial institutions learn about the customer, the more they can break into new market segments and retain relevance among increasingly fierce market competition. Financial literacy is a necessity, not only for those learning from it but also for businesses wanting to drive growth.<\/em><\/p>\n\n\n\n

Blockchain platforms, Blockchain as a Service, Blockchain Frameworks and the like are making blockchain development far more accessible for both corporate and start-up founders. Does one still need to have knowledge of how the underlying blockchain works?<\/strong><\/p>\n\n\n\n

The first step has always been and will always be understanding the problem you want to solve. Understanding the technology may then help to determine whether blockchain technology is a viable and optimal method to solve the problem. <\/em><\/p>\n\n\n\n

Often, the cost attached to participating in and developing such a solution<\/em>\u2014even using SaaS platforms<\/em>\u2014can be quite expensive, in terms of time as well as capacity, and it may be more cost-effective to find an off-chain solution. However, it\u2019s important to, at the very least, understand the merits of the technology and the type of efficiency and cost savings it generally brings.<\/em><\/p>\n\n\n\n

Blockchain began life in financial services, but what do you feel is the most impactful use of the technology beyond that sector?<\/strong><\/p>\n\n\n\n

Blockchain has the power to influence transactions of any kind. Its underlying infrastructure<\/em>\u2014which brings about its own evolution<\/em>\u2014can oversee and trace land, energy, and intellectual property transfers, including maintaining a true and continuous data record available to all relevant stakeholders.<\/em><\/p>\n\n\n\n

However, we also need to consider the development of this technology, which can greatly influence the scale of its adoption. The influx of decentralised and open-sourced models, like decentralised exchanges, for example, will be interesting to follow in the short and medium-term. These technologies will further democratise access and enhance technology stacks, where services will be built atop the infrastructure and show the market a new means to transact and potentially create efficiency. Beyond this, existing innovations will serve as a good testing ground to identify the limitations of technology and find fresh opportunities for iterative evolutions and potential new offerings in areas, perhaps, that have yet to be imagined.<\/em><\/p>\n\n\n\n

Coronavirus has pushed us all online, reducing the relevance of geographical proximity. What does a \u201cFinTech Hub\u201d look like in a post-pandemic world? <\/strong><\/p>\n\n\n\n

This is an excellent question. Interestingly, even prior to the pandemic, geographical clusters were already disbanding as professional travel became more popular, and industries and subject matter communities globalised. In the blockchain world, annual events like Consensus and FinTech Festival brought together thousands in New York and Singapore respectively. But beyond this, while hubs have existed, they grew and thrived over time through their participation in a broader ecosystem both at the domestic and international level.<\/em><\/p>\n\n\n\n

We have seen that while Coronavirus has taken its toll on the world, our industry will continue to push forward. FinTech has used this time to identify problem statements like this to build new solutions and cater to the evolving customer. New smartphone applications like Clubhouse have emerged as great mediums to aggregate a community on a topic of interest, engage in dialogue to further the spread of knowledge, and spark ideas that could formulate new enterprises entirely. With this, we have further democratised access and allowed for greater inclusivity than ever before; the cost of participating in these hubs today is reduced to owning a smartphone and having an internet connection. There is, after all, little to no need for fees that were in place to cover venues, travel, and meals upon arrival.<\/em><\/p>\n\n\n\n

Digital tools like these have not only aided in the dissemination of ideas, but also:<\/em><\/p>\n\n\n\n