Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites.
Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. For avoidance of any doubts and to make it easier, you may consider any links to external websites as sponsored links. Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.


– HPD’s Kevin Day offers his predictions for the year ahead – 2017

Reflecting on 2017, several technology trends emerged, from virtual reality and robotics to cyber security and artificial intelligence. But for Kevin Day, CEO at HPD Software, the technology specialist for commercial finance providers, Bitcoin shone the brightest.

“Bitcoin has witnessed an astronomical rise over the last year both in terms of its value and its prominence in the media. However, its reliance on Blockchain could be a double-edged sword for wider use of this underlying technology, such as in the commercial finance industry. Blockchain is a really useful technology, but my concern is that it is inextricably linked to the roller coaster rise (and fall?) of Bitcoin, and any negative fallout might put people off adopting Blockchain altogether.”

2018 – FinTech will ‘steal the show’

Looking ahead to 2018, Day believes that FinTech is certain to retain its high profile and excitement, evidenced by the forecast that global investment in FinTech will hit a value of $8 billion in the coming year, almost triple that of 2013 (1).

He comments: “FinTech is turning the finance industry on its head, resulting in traditional lenders having to raise their game. Yet, the one thing holding FinTech back has always been scalability; industry adoption rates have not been as rapid as initially anticipated.”

The day does go on to highlight the collaboration in the market space, which is occurring at an unprecedented rate. “Many banks are seizing the opportunity to buy up young FinTechs (2); creating mutually beneficial partnerships and helping banks to retain their competitiveness in an evolving marketplace, whilst at the same time giving FinTechs substantial exposure.”

Cloud-based technology

Day also believes that we can expect to see a further surge of financial services organisations utilising online cloud-based solutions. He adds: “Software-as-a-Service (SaaS) in particular has been on the rise for a while now, due to its ability to reduce IT costs and increase flexibility. Our own SaaS solution is gaining increasing traction, as we continue to keep up with our clients’ evolving needs.”

The continued emergence of AI 

According to Day, we will continue to see growth around machine-based learning and AI, “both of which will have a massive impact on the financial sector, not just from the obvious risk mitigation angle, in terms of who an organisation lends to, but also looking at streamlining the organisational processes.”

GDPR – unintended consequences?

Commenting on GDPR, Day believes that the legislation is positive overall. “It forces all organisations to really think about security and procedures on all levels. However, legislation often has unintended consequences and, while GDPR was undoubtedly designed for larger organisations, smaller businesses will also be affected and I worry that this will be a disproportionate distraction and impact on other investment and growth
opportunities, at least in the short term.”


Looking even further ahead and to the uncertainty surrounding Brexit, Day maintains a more optimistic outlook for HPD: “We are a truly global company, with just under half of all of our business being conducted in Europe (excluding UK), and more than 15 percent of our staff are EU citizens, based in the UK. The EU has a myriad of talent, which we are keen to continue welcoming into our growing business, and we’re sure that the politicians will find a workable solution. We are mindful of potential barriers to doing business in the EU post-Brexit, but like all companies, we have backup plans and strategies to avoid any disruption to our loyal customers.”

The future customer

“At the end of the day, no one can afford to take their eye off the ‘future customer’. The technology sector has seen a visible generational shift towards digitally savvy young entrepreneurs becoming the new business leaders. And with changing, dynamics comes a new set of demands and expectations. I believe that all organisations must appreciate and adapt to these demographic changes, particularly if they want to steal an edge against the competition.”

(1) https://tinyurl.com/yahlyebt

(2) For example, Amicus Commercial Finance was recently acquired by Investec Bank Plc (https://tinyurl.com/yc9gx3la)

(3) HPD conferences in 2018