Sharegain: Remaining relevant in the age of digital disruption
11 September 2018 London
Image: Shutterstock
鈥淐hange is happening faster than ever before and no matter how well you鈥檙e doing things, if you keep doing them the same way you鈥檒l soon be left behind鈥�, according to Boaz Yaari, founder and CEO of Sharegain, in regards to the current securities lending market.
Yaari questioned: 鈥淗ow can we, as an industry, help it grow and push it up the path of progress? How do we attract a wider audience and increase engagement?鈥�
In answer, he stated that the industry must recognise that 鈥渄igitisation does not create value
by itself; rather, it is a means to an end. In this digital age, we should accept that client behaviour is dramatically changing鈥�.
Yaari commented on fintechs and insurtech that have made a success of embracing digitisation for their benefit in which he listed Revolut, Starling Bank, Transferwise, Stripe and Lemonade as such successes.
He said: 鈥淸These firms] have understood that digital capabilities which focus on client experience and the savvy use of data, must be at the heart of their business model in order to deliver a standardised solution with a strong value offering and engaging client experience.鈥�
He added: 鈥淵et it hasn鈥檛 stopped them from religiously focusing on simplification, alignment of interests, reduction of friction while being as transparent as possible. With these companies you don鈥檛 get just a great app, you get an offering that exudes simplicity, engagement and transparency.鈥�
鈥淭hey jump the end-user through the hoop of complexities associated with opening a bank account, buying insurance, making cross-border payments, taking business loans and much more. Unconvinced? Sceptical? Just ask their millions of clients.鈥�
Yaari also said the industry must 鈥渦se more automation to reduce risk, streamline processes
and provide that slick client experience鈥�.
鈥淭he utilisation of technology to replace all the labour-intensive processes must be integral to our conversations鈥�, he said.
Yaari concluded: 鈥淭he stakes are high, the road is long and the challenges are many, but in the words of the great Warren Buffett: 鈥楾he most common cause of low prices is pessimism鈥欌�攕ometimes pervasive, sometimes specific to a company or industry.鈥�
鈥淲e want to do business in such an environment, not because we like pessimism but because we like the prices it produces.鈥�
To read the full article, check out the 9th edition of The International Securities Lending Association鈥檚 Securities Lending Market report, available here.
Yaari questioned: 鈥淗ow can we, as an industry, help it grow and push it up the path of progress? How do we attract a wider audience and increase engagement?鈥�
In answer, he stated that the industry must recognise that 鈥渄igitisation does not create value
by itself; rather, it is a means to an end. In this digital age, we should accept that client behaviour is dramatically changing鈥�.
Yaari commented on fintechs and insurtech that have made a success of embracing digitisation for their benefit in which he listed Revolut, Starling Bank, Transferwise, Stripe and Lemonade as such successes.
He said: 鈥淸These firms] have understood that digital capabilities which focus on client experience and the savvy use of data, must be at the heart of their business model in order to deliver a standardised solution with a strong value offering and engaging client experience.鈥�
He added: 鈥淵et it hasn鈥檛 stopped them from religiously focusing on simplification, alignment of interests, reduction of friction while being as transparent as possible. With these companies you don鈥檛 get just a great app, you get an offering that exudes simplicity, engagement and transparency.鈥�
鈥淭hey jump the end-user through the hoop of complexities associated with opening a bank account, buying insurance, making cross-border payments, taking business loans and much more. Unconvinced? Sceptical? Just ask their millions of clients.鈥�
Yaari also said the industry must 鈥渦se more automation to reduce risk, streamline processes
and provide that slick client experience鈥�.
鈥淭he utilisation of technology to replace all the labour-intensive processes must be integral to our conversations鈥�, he said.
Yaari concluded: 鈥淭he stakes are high, the road is long and the challenges are many, but in the words of the great Warren Buffett: 鈥楾he most common cause of low prices is pessimism鈥欌�攕ometimes pervasive, sometimes specific to a company or industry.鈥�
鈥淲e want to do business in such an environment, not because we like pessimism but because we like the prices it produces.鈥�
To read the full article, check out the 9th edition of The International Securities Lending Association鈥檚 Securities Lending Market report, available here.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
