Lab Drinks are back!
We host these informal drinks so that our community can come together, connect and talk about all things transforming finance: from crowdfunding to alternative currencies, from activism and economic justice to the value of money.
This month the focus of our conversation is how to maintain the intention and core values that sparked the movement to transform our economy and financial system. The aim has always been to replace the existing system with one that is more democratic,… Show more responsible and fair; where economic, environmental and social value go hand-in-hand.
Alternative finance: Cause or great business idea?
But, as crowdfunding, peer-to-peer lending and the sharing economy begin to go mainstream are we in danger of replacing one exploitive system with another? Recently we’ve seen a slew of articles about low wages, poor regulation and workers rights in the Sharing Economy. Almost every month sees the launch of a new crowdfunding platform, as sharp-eyed entrepreneurs and investors rush to join the alternative finance sector. Interest in financial innovation is high, with Fintech firmly on the UK Government’s agenda . For these new companies is there a ‘cause’ or just a great business idea?
New future or more of the same?
So, is the movement to transform the financial system losing its way? Is it becoming a victim of its own success and falling prey to the culture and failings of the existing system?
How do we stay true to the cause of economic justice? Does it matter, do we even need to ask this question? Have your say. Come and join the conversation.
On the night
We’ll have a couple of great speakers to kick off the night by putting forward their views on where we are and the lessons we need to take into the future.
There’ll still be lots of time for networking and catching up with friends. The speakers take to the mic at 7.00 p.m.
We love to have new people drop in, so if you're not a member of the Lab community that's fine. Basically, it's about creating the space for lively conversations and connections.
Our speakers
Malcolm Hayday's story is in three broadly equal parts. The first third, formal education, resulted in a BA in economics at Exeter University. This was followed by a conventional second third in the world of mainstream finance. Towards the end of this period he began to see that finance could be a very powerful tool for the common good, not just for private gain. For the last 20 years he has immersed himself in the worlds of social finance, innovation and enterprise. He researched, piloted and launched the world's only modern day registered general charity and regulated bank, The Charity Bank, as well as being active in international social banking networks, erstwhile Chair of the Big Issue Foundation and contributor to numerous working parties and advisory groups. He stepped down from Charity Bank in 2012 and became General Manager of the Institute of Social Banking . More recently he has been appointed Advisor to the newly registered charity, the Scottish Community Re-Investment Trust, developed on the premise that as the third sector has a public good role and is informed by different values to commercial enterprise, it needs financial intermediaries that share its principles and operate to serve its mission. In his spare time and when he is not watching whales, he cultivates citrus trees in Andalucia.
Abdul Haseeb Basit is the Head of Finance & Strategic Projects at Innovate Finance, an independent membership-based industry organisation that aims to advance the UK’s standing as a leader in fintech innovation, both domestically and abroad.
Prior to working at Innovate Finance, Abdul worked in wealth management strategy, finance and change management roles at Credit Suisse. He has an MBA (with distinction) from Imperial College Business School, a keen interest in helping startups and acting as advisor and mentor to multiple start-ups.
The Finance Innovation Lab Team
www.thefinancelab.org
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