Future of payments will be digital and mobile-led, says fintech expert Ferguson, who will be speaking at the ConnecTechAsia Summit. The challenge is to get people to give up using cash.
Why did you decide to start Caber Partners?
My background is in finance and I am a businessman. Throughout my career in banking and financial industry, I saw how technology has helped shape the system. Today, however, the services provided by banks and other financial organisations are subject to being disrupted more easily than before.
With FinTech evolving, I took the opportunity to expand my business which involves both of my passions – finance and technology. Caber is a fund manager that invests in innovative companies seeking to disrupt the finance industry. We leverage our unique differentiated access to entrepreneurs, financial institutions, and regulators and our own experience as operators to create value on a global scale.
Caber Partners is based in Singapore. Why did you choose to set up base in the Lion City?
Singapore is a beautiful country. Vibrant, I must say. I have been living and doing business in Singapore for over 25 years. It attracts investors because of its stability and transparency. Singapore has changed itself multiple times to adapt to global developments over the past 50 years. It is perfect as Caber Partners’ headquarters.
In your opinion, what are the most important factors to consider when starting your business?
With today’s tech-savvy consumers, we need to consider how technology is going to define the industry further, how talent can be attained and developed. The way to attract and retain talent is to give your employees the flexibility and control over their work and life.
What excites you most about what you do?
The enormous variety of it all as the entire ecosystem is being transformed.
What are your thoughts on the future of payments?
Future of payments will be digital, especially on mobile. The challenge is to get people to give up using cash.
Any advice for industry players?
Know what you don’t know, listen and read extensively to be successful. This applies to anyone in any industry.
You will be speaking at ConnecTechAsia Summit 2018. What do you think will be the most important takeaway from the key topics you’ll be addressing?
It’s important to recognise the scale of the change ahead of us, and how it’s coming faster than many people think.
Where do you see fintech heading in the next five to ten years?
The financial industry in many segments will be unrecognisable as application of blockchain, artificial intelligence and total move to mobile will allow smart platform based businesses to make major inroads.
What’s the best piece of advice you’ve ever received?
Be very aware of knowing what you don’t know.
Your current read?
Michael Woolf: Fire and Fury.
Keen to hear more from Ray Ferguson? He will be sharing his thoughts on the future of payments at the ConnecTechAsia Summit’s EmergingTech Track. View the schedule here.