The Ostfalia University of Applied Sciences, Wolfenbüttel, Germany hosted, within the scope of the Study Programme Sustainability & Risk Management (M.Sc.), a virtual lecture done by Mr. Desislav Danov, co-founder and the managing director of the F intechguardian, first EU based NGO dedicated to FinTech consumers protection. During Mr. Danov`s online lecture, entitled Sustainability, Digital Transformation and FinTech, which took place on Tuesday, December 17, 2020, participants of the Module Social responsibility, sustainability strategy & reporting, could gain a deeper understanding of the development of the FinTech industry as opportunity and challenge for sustainable future.
The key takeaways of Mr Danov's lecture are within the realm recent Fintech and Insurtech developments. He highlighted the trade-off between opportunities and challenges, brought forward by those new entrants into the financial services markets. The presentation also made connection between ESG goals and deployment of technological solutions in the area of Finance. Another focus of the lecture was the consumer protection and the mismatch between existing approaches and the new, tech-driven environment. A special impetus was put onto tech fact that today almost all companies have software – driven organizational architecture.
„ Translated into supervisory architecture, the new type of Fintech supervisor should possess toolbox with up-to-date business models and technological instrument in order to be adequate to the supervised entity. His internal organization and methods of work should mimic those of the supervised structures, because we should always remember the bottom-line: Today all companies are software companies“ - states Mr. Danov regarding the role of the consumer protection authorities today.
This lecture was a great possibility for students to learn more about Fintech and Insuretch solutions and challenges of sustainability by a highly skilled and experienced professional from the FinTech sector.