What were the key motivators for you to join Maersk originally?
Two things, my passion for the environment and my passion for tech! Back then I was still unsure to what extent big corporates were part of the answer to environmental preservation and starting in one of the biggest ones in Denmark was a way for me to understand what I was critical towards, and to realize how size is important to factor when choosing partners with which to solve any challenge I’m faced with. Also at that time I had become fascinated by 3D printing and so when faced with the opportunity to work with supplier innovation for the portfolio of engines, in the largest shipping conglomerate in the world – I just had to say yes!
How have you seen the maritime industry change due to the influence of technology and how do you see the parallels with the health and finance space?
I’ve only been in maritime for 3 years but I definitively think the 3D printing project we did stirred something in the industry and we were all very surprised by the attention it received both from within and outside. We see several joint industry programs around the technology now, and most if not all suppliers that have embraced the technology in one way or another. As I believe technologies only become disruptive in combination, the next step is to seriously investigate complementary technologies: big data analytics, the Internet of Things and even drones as that’s when you’ll see business processes truly transform. But working across several technologies and at higher abstraction levels demands different skill sets and this is where I think we see parallels with the health and finance space.
Not only do employers start looking for atypical profiles to understand the influence of tech, but new businesses altogether are entering these spaces thanks to tech. Companies that do data analytics enter the health space to provide more efficient tools for diagnosis. Or in the space of finance, new means of payment or loans created by start-ups or by well established internet-based companies like Google or Facebook. This convergence or emneshment of skills, is happening faster in health and finance for cultural reasons, in contrast to the slower-moving industry of maritime. But it’s happening!
What do you believe is unique with respect to Denmark and its innovation culture as compared to London, New York, Silicon Valley, or other tech hubs?
Definitively the geography and institutional environment! First of all the size of the country puts limits to access both monetary and human capital which in hand forces pre-mature exits in the start-up space. Then, supporting a strong welfare state I think reveals a more risk averse national culture compared to the US or even the UK and maybe more importantly- a willingness to ‘outsource’ problems in society to the public sector. Some of the grand innovations we’ve historically seen here have in large happened thanks to a certain beneficial regulatory climate for innovations in select industries. Energy and constructions are great examples where companies like Vestas or Rockwool maybe wouldn’t be as successful as they are today had it not been for support schemes created by the public sector.
But the innovative culture is changing here too, particularly with generational shifts! Take me as example, I turned down what for my age was a unique job in a corporate to instead pursue something yet to be defined by me. It certainly generated some interesting discussions with my dad!
How do you define ‘innovation’?
For me innovation is a matter of transforming status quo as opposed to reproducing it. To call something ‘innovative’ the status quo must de facto be changed not only in its composition and input (reproduction) but also in its purpose and output (transformation). With 3D printing for example a lot of people are looking at existing products to print, this in my view is rarely innovation: it’s optimization. Instead we should be thinking about the new products we’ll see with the technology. A classic “don’t design me a chair, design me something I can sit on” -scenario.
What are you looking forward most about financial innovation?
As alluded to before I really look forward seeing a more diverse set of actors working in the space of finance – not only in gender but in academic and professional backgrounds. The impact the financial sector has on society at large demands better representation in terms of the people working in this sector. Since we still need experts now more than ever, I think technology plays a vital role here – alleviating some of the tedious tasks in the sector to give room to the discussions needed in the sector. Women in FinTech being one of them.
I also look forward seeing the proliferation of financial solution to the unbanked made possible with tech.
Who(m) do you believe has had the most influence with respect to your own career?
Without doubt my friends! Sure I’m fascinated by the big names of yesterday and tomorrow, but those that inspire me to constantly improve myself and strive for more are my friends. Amongst them, particularly the female portion of my friends working with biotech, big data, and women in power are continuously humbling me, impressing me and inspiring me to do better.
Who do you consider to be strong women leaders in the FinTech space?
Though not directly in this space, IMF’s Christine Lagarde has valuable thoughts on women in finance that I believe has set the stage for a lot of discussions we’re having today on the topic. Then from an ‘upcoming’ view I’m a fan of Maxine Ryan from Bitspark that is at the technology frontier of the B2B remittance sector. Maxine has a set of values that I think really serves the sector, amongst those a shared passion for the environment.
What do you see as the 3 leading future trends for FinTech?
Blockchain technology, new actors and the sharing economy.
Blockchain technology will have an impact on already ongoing technologies such as algorithm trading, prediction engines, robot advisers and cryptocurrencies- most likely fuelling their development and application in the sector. As we’ve seen, these technologies are not necessarily in the hands of traditional players in finance. How these new actors enter this space is already causing disruption. Take cryptocurrencies for example, being currently unregulated in contrast to the increasingly regulated movement of international capital, enables new types of cross-border activities. New players who, not being seen as ‘traditional’ banks, fall outside the radar of regulators, potentially gaining significant first mover advantages! Regarding the sharing economy which is more a mega trend I think it’s important for actors in the FinTech space – like in any other space – to have an updated set of assumptions to work with: ‘Where will value be generated and captured?’ ‘can we measure it?’ ‘do people even want to own?’. These are important questions to consider in FinTech going forward.
Start the conversation