Out Of The Shadows

Robin Fuller, chairman of the marketing committee of the Guernsey Investment Fund Association, looks at new opportunities for the Guernsey funds sector and highlights fintech as one likely to be significant.

Winston Churchill's quote of 'Never let a good crisis go to waste' has been very appropriate as we struggle to restore stability and prosperity to our banking and financial services industries.

Politicians and economists have bemoaned the lack of credit following the banking crisis, the impact this is having on households and industry, and how it is acting as a serious brake on economic activity. However, as the supply of bank credit ebbs, human ingenuity searches for alternatives and so we have seen the phenomenal growth in 'shadow banking'.