ZIBS FinTech CEO Program in the UK: Global Trends and China’s new Role

13 May 2019      By:

7 May, 2019, London Time. ZIBS FinTech CEO Program: UK Module officially kicked off in London. Over 30 students from around China and beyond participated in this overseas module. Consisting of company visits in London and executive coursework at Cambridge, participants gained in-depth insights about trends, practices and challenges from the field.

 

9 a.m., 7 May. The ZIBS Fintech CEO Program participants visited the London Stock Exchange, the first stop of the program. Tom Attenborough, Head of International Business Development, Primary Markets at the London Stock Exchange, briefed the delegation on the history of the Exchange, its cooperation with China as well as its comparison to other stock exchanges around the world. He gave details on the procedures for Chinese companies' going public at the London Stock Exchange, its support for new economy and SMEs, and its ELITE Programme which is dedicated to capital raising for private companies. Mr. Attenborough expressed his confidence in the continued in-depth collaboration between the capital markets in China and the UK. Participants had a lively Q & A session on “Shanghai-London Stock Connect”, two-way depository receipts between the London and Shanghai exchanges, how to invest and allocate assets globally via London, why Chinese companies prefer to go public in the USA, the trials made by London Stock Exchange for blockchain and UK's regulatory sandbox.

 

▲ A group photo at London Stock Exchange

 

11 a.m., 7 May. Prof. Ben Shenglin, Dean of ZIBS, led the group on a visit to Central Banking Publications, a renowned financial publishing company in the United Kingdom. Publisher Nick Carver and Editor-in-Chief Christopher Jeffery extended a warm welcome to the ZIBS participants. David Pagliaro, Managing Director of Insight Group, Infopro Digital, which is the parent company of Central Banking Publications, welcomed the group and cooperation with ZIBS, and briefed the delegation on the Group's history, status quo and long-term cooperation with China.

 

▲ Prof. Li Youxing (left), Prof. Ben Shenglin (middle) and Mr. John Cook (right) signed the MoU for strategic cooperation

 

During the visit, Prof. Ben Shenglin, AIF Vice Dean Prof. Li Youxing, and Central Banking Publications Commercial Director John Cook signed the MoU for strategic cooperation on behalf of the 3 organizations, marking ZIBS's latest step towards collaboration with the world's leading financial publishing group. Prof. Shenglin, Adam Csabay, Leader of China Work Team and Chair of FinTech Consultative Committee at Central Banking Publications, Nick Vaughan, Data Infrastructure Architect at Bank of England, and Phillip Straley, President of Financial Network Analytics (FNA) led a panel discussion on the key issues related to FinTech, including its impact, opportunities and challenges, regulation and responsibility and global cross-field cooperation. In addition, ZIBS participants had a lively discussion with the panelists on digital currency, sustainable development of FinTech, and FinTech regulation.

 

▲ ZIBS students

 

2 p.m. 7 May. At KPMG UK headquarters, Anton Ruddenklau, Global Co-Leader of FinTech at KPMG International, made a presentation on the trends and strengths of FinTech in the UK, KPMG’s core FinTech research, and the UK regulatory technology development landscape. Anton shared that the UK's well-developed financial market, quality financial eco-system, mature investment market and abundant human resources have been driving the quick FinTech development in the UK. KPMG has been studying FinTech infrastructure for several years, along with core technologies, and sub-domain development. In future, KPMG will further explore FinTech and regulatory technologies, to enable FinTech companies, investors, consumers and the industry as a whole to realize long-term healthy development. Oliver Oram, CEO of the FinTech startup Chainvine, the company’s innovative practices and future developments, and had an in-depth discussion with the participants on the issues related to business models, technologies and operations faced by FinTech startups.

 

▲ IBS students were at an exchange meeting at KPMG UK headquarters

 

5 p.m., 7 May. The delegation visited ZIBS's partner Ascential, a global B2B media company. ZIBS signed an MoU with Ascential at its Inauguration on 15 November, 2018. Money20/20 of Ascential, the world’s largest conference on payment and financial service innovations, was staged in Hangzhou in November 2018. It has maintained close partnerships with the Zhejiang Association of Internet Finance and AIF. During the visit, Ms. Tracey Davies, President of Money20/20, briefed the delegation on Ascential's history, brands and objectives and Money20/20 in Hangzhou. Afterwards, Pat Patel, Global Content Director at Money20/20, shared his insights on the history, triggering factors and future trends of FinTech. ZIBS participants asked questions about Ascential, in particular the business model, core features and values, and forms of company engagement, to better understand how to collaborate with Ascential, how to leverage the Money20/20 platform to enhance companies' brand effect and how to align resources. The participants hoped that the engagement with Ascential's FinTech ecology would help transform and upgrade their companies.

 

▲ Ms. Tracy Davies, President of Money20/20, was at an exchange meeting with ZIBS students

 

9:30 a.m., 8 May. The ZIBS group visited HSBC Group Archives in London, which is one of the 4 HSBC archives in the world. Participants gained a better understanding of HSBC, from its origin, history and global presence, to major historical events. The well-preserved handwritten account books, early banknotes, historical photos of HSBC's daily operations and the large stock of archives told an impressive story. Through exchanges with HSBC employees, the participants also appreciated the charm of the 154-year-old international bank and its long-standing collaboration with China.

 

▲ ZIBS students visited HSBC Group Archives in London

 

▲ A group photo at HSBC’s headquarters

 

Afterwards, the group visited HSBC's headquarters in City of London. Prof. Ben Shenglin, Dean of ZIBS, first elaborated on the purpose of the UK Module and expressed hearty thanks to HSBC for their hospitality. Alice Du, Head of the China Desk at HSBC UK Bank, presented HSBC's business portfolio, scale of assets and global position, and shared case studies on how HSBC assisted Chinese companies in their internationalization endeavor. Greg Guyett, Head of Global Banking at HSBC, once again extended a warm welcome to ZIBS participants, and reviewed the long-standing collaboration between China and HSBC. He also expressed the hope that HSBC could enable more Chinese companies to pursue international development.

 

▲ A group photo of the ZIBS delegation and Greg Guyett, Head of Global Banking at HSBC

 

2 p.m., 8 May. ZIBS participants visited Data Science Institute (DSI) at Imperial College London, to further understand the collaboration between Zhejiang University and Imperial College London on big data and FinTech. Dr. Wang Jiangli, Director of Zhejiang University London Office, extended a warm welcome to the group, and briefed them on the collaboration outcomes in the past 5 years and the latest developments at DSI. Huang Ping, Project Manager at DSI, presented DSI's history and current position, the ongoing research projects and outcomes of the 6 labs, including Business Analytics Lab, Social and Cultural Analytics Lab, and Data Economy Lab. She also demonstrated big data visualization and its profound impact on academic research, practical applications and social development.

 

▲ ZIBS delegation visited DSI at Imperial College London

 

By the end of the company visits in London, ZIBS participants conducted a series of in-depth exchanges with representatives of large companies and institutions in London, gaining a better understanding of the FinTech-related companies' development, the frontiers of the industry and the central role China plays in the global industry. On 9-11 May, the ZIBS participants will be at Cambridge Judge Business School for a 3-day course module.