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.