FINTECH
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Huawei ’ s Bill Genovese on the technologies , business models and innovators disrupting banking and why ‘ banking as a lifestyle ’ is the new norm
T he digital evolution of the financial services sector is unceasing . The ‘ traditional ’ banking business model has fundamentally changed , driven by new and innovative technologies , the entry to market of digitally-led and diverse businesses better suited to meeting evolving customer expectations , and the broader rise of the sharing economy spearheaded by the likes of Uber and Alibaba . This is the next generation landscape for financial services – an environment in which banking and finance is no longer about manufacturing and delivering products , but rather , about building a lifestyle .
Such change doesn ’ t happen in isolation . Indeed , says Huawei ’ s Bill Genovese , those three key forces mentioned above are changing the future of society more broadly . Genovese , Huawei ’ s Vice President Corporate Strategy – Banking &
Financial Markets , knows the industry like few others . He has more than 25 years ’ experience in providing professional solutions to the sector , including consulting , designing and delivering financial , analytical and systems management applications and their underlying infrastructure . At Huawei he leads the corporation ’ s financial services industry strategy , represents the financial markets industry as the leader in a cross-Huawei Blockchain technology working group , and works
MAY 2020