Penryn's TMT group look at the disruptive power of FinTech and what it means for boardroom leadership in the August issue of Financier Worldwide.
The paper identifies how the financial services sector is facing widespread upheaval as a result of the transformative power of FinTech, with existing business models and traditional job roles increasingly under threat from disruptive start-ups. Yanouk Poirier explains what the disruptive potential of FinTech means for boardroom leadership and how Financial services businesses need C-suite talent with new leadership styles to embrace disruptive technologies.
Key takeaways include:
- Businesses that want to capitalise on digital disruption of financial services require leaders with the vision to deliver effective solutions to new business challenges.
- Companies need a whole range of skill sets at C-suite level to prepare for the disruptive challenges ahead, beyond digital knowledge.
- A new style of digital leadership has emerged to drive transformation from the top.
- Digital leaders drive disruptive vision, delegate authority, ferment new cultures and are fully focused on client-centric execution of business strategy.
- FinTech leaders need the flexibility to mix this new leadership style with elements of authority-based and high-performance leadership.
- An advisory board can be a useful complement to digital leadership, providing a sounding board on key decisions and access to additional expertise.
- Finding digital leaders with the right cultural fit to an organisation requires an in-depth knowledge of its vision, competencies and precise needs.