EY has named James Lloyd as its financial technology (FinTech) leader for the Asia Pacific region.
FinTech start-ups are changing the landscape for traditional financial services companies, which are responding by re-engineering processes and revisiting product offerings so as to more effectively serve their customers. The opportunities for cross-collaboration between the incumbent institutions and start-ups are thus considerable.
Moreover, the Asia Pacific region is a hotbed for FinTech. According to EY's FinTech Adoption Index released early this year, Hong Kong had the highest rate of FinTech adoption at 29.1 percent. Shanghai, Singapore and Sydney are other key regional locations fostering fast-growing FinTech ecosystems.
To help financial institutions take advantage of this trend, Lloyd will be responsible for advising EY clients on how to best identify and harness the opportunities presented by the application of new and emerging technologies to product and service delivery. He will also coordinate and build on EY's existing community of FinTech professionals across the region, as well as work to expand EY's relationships with start-ups, financial institutions, government, regulators, venture capitalists, and other service providers across the ecosystem.
Lloyd will also be part of the EY Asia-Pacific Financial Services Organization (FSO), a fully dedicated and integrated entity with a unique approach focused exclusively on servicing the needs of EY's clients in the financial services industry.
"James' background and experience are an excellent fit for us as he has not only worked with start-ups and FinTechs across Asia and Europe, but has also helped traditional financial institutions transform their processes to better serve small businesses. This unique blend of first-hand knowledge across the whole spectrum of the financial services industry will be a key asset to EY's advisory offering to our clients," said Jan Bellens, EY Asia-Pacific Banking & Capital Markets Leader and Global Emerging Markets Leader.
Before joining EY, Lloyd helped build and scale a venture-backed "alternative finance" platform provider, enabling banks to profitably offer short-term unsecured loans to under-served small businesses - first as head of product management, then as head of strategy & corporate development. Prior to that, he worked in product strategy and delivery for an e-commerce payment start-up which combined direct-to-market customer acquisition with white-labeled full-service delivery for partner banks.
As a start-up mentor, seed investor and community builder, Lloyd is an active participant in the wider FinTech ecosystem across the Asia Pacific region. He currently sits on the FinTech Advisory Group of Hong Kong's Securities and Futures Commission.
Lloyd's appointment is timely as EY rolls out the Accelerating Entrepreneurs programme, an initiative to help high-growth potential start-ups from around the world through one-to-one guidance, networking and insight-sharing. Designed to help entrepreneurs accelerate through the next steps of their growth journey and become future global market-leaders, the programme is implemented across North America, Europe and the Asia-Pacific region.
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