Deloitte knows that emerging business disruptors, such as Fintech, Blockchain, AI, Crowdsourcing and Robotic Process Automation could have profound effects on our business and our clients. We want to lead the change and we’ve decided to proactively create opportunities for our core business and invest in new ideas for Deloitte to serve our clients better and help our clients innovate themselves.
Innovating at global businesses like Deloitte, requires harnessing different ways of thinking. Innovation means applying a new lens to the established way of doing things or looking for things that don’t currently exist, requiring diversity of thought and local disruptors. We recognise we cannot ‘own’ the best global talent (although we do have a good share of it) and to prepare for the future, building partnerships outside Deloitte will be vital to our success.
In the UK, we have set up Deloitte Ventures: a team and an investment fund to help us invest, partner and incubate startups from inside and outside Deloitte. For us it isn’t purely about financial return – we look for strategic alignment with what Deloitte offers our clients. We have already invested in and partnered with a number of startups in fields such as fintech and blockchain. Another example is Smart ID, a digital identity platform developed by our own specialist blockchain team that is using the power of blockchain technology to redefine the way identities are managed for people, organisations and things.
Financial Services is a core area for our business. In the fintech space, we have launched a number of exciting initiatives and offerings which allow us to work with our clients to help co-create the future of financial services, whilst also helping our clients build ecosystems outside their organisation.
So I hope you can see why we partnered with XTC. It will provide us with exposure to some of the most promising startups in the world. And it will provide these startups with exposure to us. We have a strong brand, market access and maturity. Startups have agility and speed to market. The magic will come from bringing them together.
We look forward to speaking to as many of you as we can at the world’s largest technology conference, CES, and wish the entrants good luck in their Extreme Tech Challenge.
To read more about what we are doing in fintech visit: Deloitte.co.uk/Fintech
Louise Brett – Partner, Head of Fintech, Deloitte UK
Alex Shelkovnikov – Deloitte Ventures and Blockchain Lead