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Next Money exists to increase the level of cooperation between banking and finance and technology. It is the world's fastest growing fintech collaborative platform, bringing together innovators from across the globe in order to improve the future of finance.
Fintech has had, and is continuing to have, a disruptive influence on the marketplace. The final outcome of this disruption is unknown. Fintech is changing the way people buy and invest, and it is also changing the very definition of money. However, this isn't necessarily bad. The changes in civilization over the last 50 years have been such that if fintech didn't exist we would have to invent it. Money needs to move farther and faster than ever before. And fintech is set to fill in the gaps created by lack of liquidity and limitations on gov't issued currency. The very definition of what constitutes money is changing and Next Money is bringing people together to help determine what that new definition will be. But, fintech must rely on software to succeed and the quality of software is by no means assured.
The rapid spread of digital technology over the last 30 years has brought businesses more and more into the digital space. This means that customer engagement has become ever more reliant on IT, and so has finance. Financial institutions now rely on digital technology for most day to day activities and so the combination of business and finance going digital has created an unprecedented reliance on software to the point where it could literally cost millions of dollars if something goes wrong.
Cambridge University issued a report back in 2013, which stated that software bugs were costing the economy 312 billion U.S. dollars annually. This cost was projected to reach a trillion dollars annually in the next 5 to 10 years. And this increased cost has made quality assurance of vital issue in the coming years.
Ash Conway will make an important presentation at the Next Money event in Hong Kong regarding the future of quality assurance in software development. This is a vital subject which isn't receiving sufficient attention. While quality assurance has certainly improved, the cost of poor quality software continues to increase and is exponentially driving up cost, thereby increasing the need for greater quality assurance. Ash will describe how Bugwolf's innovative combination of quality testers plus gamification will bring down the cost of quality assurance.
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