Innovation And How It’s Shaping Business

May 28, 2015 RainFin In the news  News

Eugene Booysen, Head of Innovation at Barclays Africa, recently talked about Barclays’ investment in RainFin on CNBC Africa. During a discussion with Alec Hogg and Peter Diamandis from the Singularity University in the USA on innovation and how it’s shaping business, Eugene said: “If you look at banks as a capital transformation player, there’s a responsibility for us in terms of how we’re reaching our clients and how we’re leveraging their deposits and where the money is going. By getting ourselves involved in these technologies and with these entrepreneurs, it opens up that ability for them to guide and solve these problems.”

Euguene then mentioned their investment in RainFin. Here is what he had to say: “We have made our first investment in a company you’re familiar with, called RainFin, which is a peer-to-peer lender. Our involvement with that company has opened up other business opportunities for us and I think that’s the important bit. As you begin to experiment, begin to play, and begin to open up, you learn how the people are doing it and you gain access to a different talent pool. Those experiments and investments have allowed us to up skill our staff in a different way. They’ve allowed us to up skill our executives in a different way and allowed us to see a different way of tackling these problems.”

Listen to full interview.

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