Medcraft points to fintech bypassing intermediaries
Financial services technology will enable consumers to bypass intermediaries such as advisers and deal directly with product manufacturers, according to Australian Securities and Investments Commission (ASIC) chairman, Greg Medcraft. Addressing a conference in Singapore, Medcraft said he believed financial services technology had the potential to change the face of the financial services sector both in the region and globally and that a tipping point had been reached where potential was translating into real action.