Watch the video episode on YouTube: https://www.youtube.com/watch?v=FFEJpYz7hgw

In this thought-provoking episode of the London Fintech Podcast, Tony Clark interviews Dan Awrey, a professor of law at Cornell Law School and the author of Beyond Banks. The conversation delves into the intersection of technology, law, and financial institutions, exploring the evolution of banking and payments, the transformative impact of fintech innovations, and the regulatory challenges facing this rapidly evolving landscape.

Drawing on his expertise in financial market infrastructure, Dan shares a vision for a new regulatory framework to address the emerging shadow monetary system and shifting consumer expectations in the digital age. He discusses the future of banking and payment systems, advocating for a model that reduces reliance on traditional financial intermediation, grants technology firms access to central bank reserve accounts, and prioritises competition to drive innovation and enhance consumer welfare.

The episode offers valuable insights for financial institutions, policymakers, and anyone interested in the future of finance, as Dan outlines practical steps to navigate the challenges and opportunities of a technology-driven financial ecosystem.

Topics Covered:

•Dan Awrey’s career journey: fintech to law and academia

•Key insights from Beyond Banks: the intersection of technology and finance

•How fintech innovations are reshaping consumer behaviour and banking models

•Challenges for traditional banks in adapting to rapid technological change

•The rise of non-bank payment platforms and shifting consumer preferences

•The need for a new UK regulatory framework to accommodate financial technologies

•The growing shadow monetary system and its implications

•Access to central bank reserve accounts as a key to fostering competition

•Governance frameworks that balance innovation with public good priorities

•Historical perspectives on banking as a guide for future innovations

Tune in to discover how technology is redefining finance, what’s next for regulation, and how collaboration between fintechs and traditional institutions can shape a better financial future.