EY has launched a survey to gauge the attitudes of Channel Islands business towards FinTech and related technology solutions and to analyse how adoption of these technologies is taking place across the islands.
The survey follows on from EY’s previous Channel Islands FinTech survey, which was undertaken in 2017. The updated survey will explore whether attitudes towards FinTech have changed since this time, if the adoption rates for technology solutions have increased and how events such as Covid-19 have affected the demand for technology solutions.
Ove Svejstrup, Associate Partner and leader of EY’s digital service offerings in the Channel Islands, is spearheading the survey. Ove also led the 2017 survey and has worked closely with EY’s FinTech community in the UK to bring the latest insights to the Channel Islands through his role as a member of Guernsey Finance’s FinTech Strategy Group. He explains what EY is looking to discover through the survey and how this will benefit the local business community:
“While our previous survey showed considerable consumer appetite for new and innovative financial services products and the willingness for local businesses to embrace the solutions on offer, more information and understanding about the specifics of these solutions was imperative to the overall adoption of these solutions. The findings from our latest survey will discover if this is still the case will allow organisations to benchmark how their levels of adoptions of FinTech solutions compare against their peers within the local business community.
“It will be interesting to gauge from respondents how the lockdowns and a much bigger push towards remote working and reliance on technology solutions will have impacted the adoption rate of FinTech solutions within the local marketplace and highlight opportunities for the islands to promote their digital capabilities to the international marketplace”.
The survey will close on 23rd April and a report analysing the findings will be released later this year.