The future of banking
Changes sweeping through the world of FinTech are opening up incredible opportunities for consumers and startups. The future of banking is nearly here and the excitement was palpable at parliament on 28th June. Leading lights from the rapidly-growing world of finance technology came together in Westminster to discuss the coming year at the Innovate Finance Summer Reception. Choose Wisely was represented by our Chief Operations Officer and co-founder, Tara Flynn. This will be a crucial financial year for the FinTech community, as the Competition and Markets Authority implements ‘a wide-reaching package of reforms’.
Sweeping changes will help consumers
Attendees were buzzing with anticipation over the upcoming shift to digital across the sector. The opening up of the banking system spearheaded by the CMA will see big banks forced to compete on a level playing field with smaller startups. Consumers will finally be able to use money management apps to access savings, current accounts, credit cards and loans in the same place. The recent requirement for payday loan providers to link out to comparison sites is a part of this ongoing shift in regulation. It has presented a golden opportunity for consumers, who now have easy access to powerful price comparison tools. Big lenders such as Wonga have chosen to feature ChooseWisely.co.uk as their recommended destination for price comparison.
Flynn on the Women in FinTech Powerlist
As Choose Wisely becomes a key player in the industry, the strong leadership shown by our COO has launched her into the upper echelons of women in tech. Colleagues describe her as ‘an inspiration – she’s the force driving our ongoing commercial success’. Tara’s achievements were recognised when she was awarded a place on the Women in Fintech Powerlist by Innovate Finance. Other notable finance personalities on the list include Louise Brett, partner and head of Fintech at Deloitte; Rana Yared, Managing Director of the Securities Division at Goldman Sachs and Vanessa Coulson, Head of Digital Change at Aviva.
Inspiring women in FinTech
Tara was humbled to be listed amongst some of the top power brokers in finance:
Choose Wisely champions consumer rights
Under the joint leadership of CEO Marc Biles and COO Tara Flynn, Choose Wisely has gone from strength to strength as a champion of consumer rights. The site uses clear, jargon-free language, with ad-free comparison tables. Choose Wisely stays at the leading edge of FinTech with a dedicated team of designers, engineers and commercial experts. The company is constantly developing new tools to stay on a level-footing with the mainstream competition. We are now expanding rapidly, with new offices and new staff. The company is well-prepared to take on the next challenges in the FinTech revolution.
Mark joined Choose Wisely in 2015. He continues to work in close contact with the providers, brokers and journalists operating in the world of consumer credit.