EY strengthens FinTech advisory offering in Asia-Pacific with appointment of James Lloyd as FinTech regional leader
HONG KONG, 21 MARCH 2016 – EY today announced the appointment of James Lloyd as its financial technology (FinTech) leader for the Asia-Pacific region. His appointment is in line with EY’s global strategy to strengthen its FinTech advisory capability in response to the rapidly growing opportunities presented by new financial technologies and processes.
Based in Hong Kong, James will be responsible for advising EY clients on how best to identify and harness the opportunities presented by the application of new and emerging technologies to product and service delivery in the financial services industry. He will 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.
In this role, James will coordinate and build on EY’s existing community of FinTech professionals across the region. James will also work to expand EY’s relationships with start-ups, financial institutions, government, regulators, venture capitalists, and other service providers across the ecosystem.
The Asia-Pacific region is a hotbed for FinTech, corresponding with its phenomenal growth globally. In EY’s FinTech Adoption Index released early this year, Hong Kong was reported to have the highest rate of FinTech adoption at 29.1%. Shanghai, Singapore and Sydney are other key regional locations fostering fast-growing FinTech ecosystems.
Innovative FinTech start-ups and scale-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 considerable.
James explains, “EY is in a unique position where our clients in the financial services industry trust us for our knowledge and expertise. FSO, in particular, has an unparalleled reputation for its deep understanding of the industry and the ability to offer services that are relevant to the industry. FinTechs, with their enterprising and innovative nature, can be the perfect partners and this is where EY can play a role to help bring the two parties together to better serve their customers.”
Jan Bellens, EY Asia-Pacific Banking & Capital Markets Leader and Global Emerging Markets Leader, says:
“Co-existence and collaboration between the new and traditional market players is increasing choices for customers and new financial services products and services are already emerging. There is a lot that traditional financial services firms can learn from how FinTechs think about the customer proposition and harness technology to deliver a compelling service.
“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 he has also worked with traditional financial institutions to transform their processes in order 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.”
James’ appointment is timely as EY rolls out the Accelerating Entrepreneurs program, 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 program is implemented across North America, Europe and the Asia-Pacific region.
The Asia-Pacific program culminates in the 2016 Strategic Growth Forum which takes place in Shanghai in May. The Forum is part of a global series of events that connects global companies, investors and government leaders to share and discuss strategies for growth. At this year’s Forum a side-meeting dedicated to FinTechs wanting to accelerate their growth in China will take place on 10 May.
James adds, “We are perfectly positioned to understand both the challenges and opportunities of FinTech. I’m really excited to be part of this process as we build credible and experienced teams in line with a unique market-centric FinTech strategy.”
Prior to joining EY, James 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 start-up mentor, seed investor and community builder, James is an active participant in the wider FinTech ecosystem across the Asia-Pacific region. James currently sits on the FinTech Advisory Group of Hong Kong's Securities and Futures Commission.
- Ends -
Notes to Editors
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com。
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About the EY Accelerating Entrepreneurs program
The EY Accelerating Entrepreneurs program helps fast growth startups from around the world through one-to-one guidance, networking and insight sharing, with a view to help accelerate entrepreneurs through the next steps of their growth journey to becoming the global market leaders of tomorrow. This year’s program culminates in the 2016 Strategic Growth Forum which takes place in Shanghai in May. The Strategic Growth Forum is part of a global series of events held by EY to connect global companies, investors and government leaders to share and discuss strategies for growth, both in China and in other international markets.