Big issues in FinTech

[musical overture]

So I think the, actually the opportunities for FinTech are super exciting but clearly the biggest challenge for FinTech in 2017, to my mind, has got to be regulation.  It’s not only the complexity of that regulation and the ability of the FinTech companies to understand and navigate through that complexity but it’s also the cost of complying with that regulation, and the cost of compliance with the kind of regulation that is associated with the financial services sector are high.  So, and I don’t think that the, those costs have really hit the FinTech sector as yet, but they will do once the FinTech applications come online.  So I think clearly regulation in many respects has got to be the biggest challenge for FinTech in 2017.