In the eighties it was automatic teller machines. In the nineties it was mass branch closures. In the naughties, it was offshoring. Now, automation and fintech loom as the great finance sector job-killers. For bank employees, it is a time of “massive upheaval and change. While NAB has announced that it will cut 6000 jobs over the next three years, it will however be hiring 2000 new people with digital skills. “The finance industry is at a crossroads,”
Diversity is one of the most contentious words in the tech industry right now. The good news is some companies see diversity as good business.
Comcast Ventures set up a fund specifically targeted at minority entrepreneurs. The Catalyst Fund has $US20 million (£15 million) under management to invest.
It’s been running for five years, mostly focusing on building dealflow, and now wants to rebuild Catalyst’s brand as the go-to place for minority entrepreneurs — mostly in the US, but Europe too.