TISA, the financial services membership organisation, has announced that Bill Wrest Head of Innovation at Moneycorp is to be the Chairman of its newly launched Technology Innovation Policy Council. Julian Rice, Head of Marketing at IFDS and DST Systems will be the Deputy Chairman.

Established with a remit to consider how the digitisation of financial services can be used to change consumer behaviour, increase engagement and help drive up the levels of personal savings in the UK, the policy council will also oversee TISA’s programme to develop the digital passport recommended by The Savings & Investments Policy project (TSIP).

Bill Wrest said: “The pace of the digitisation of financial services is set to increase sharply as providers, advisers and distributors develop innovative solutions to meet the needs of technology savvy consumers in a world increasingly driven by social media. This is creating exciting opportunities – particularly on the back of the new pension freedoms – however we still face many challenges, not least to overcome any regulatory hurdles and increasing consumer engagement in personal savings.

“This pan-financial services policy council will therefore look at how best to deal with the barriers to development and the likely impact of disruptors as well as the adoption of innovative technology, the EU Digital Single Market strategy and highlight the latest examples of innovation from around the world.”

The foundation of the Technology Innovation policy council is a crucial component in TISA’s development plan which, alongside the work of The Savings & Investments Policy project (TSIP), is re-invigorating the focus of its councils to better deliver strategic policy recommendations. Adrian Boulding will be joining TISA in August and as Policy Strategy Director will champion TISA and TSIP thought leadership.

Peter Smith, TISA Head of Policy Strategy Development commented: “Technology is an integral part of the future development of all aspects of our industry and government sponsored departments are keen to work with us on initiatives like the digital passport in order to help speed up the adoption and growth of the digital economy within UK financial services. It therefore makes sense to have a council that is dedicated on exploring how best to harness innovation. The council will also work closely with our other councils on Distribution, Wrap & Platform, Retirement and Children’s Savings and the TSIP projects on guidance, education and the digital passport.”

Technology will also be the focus for this year’s TISA annual conference in November when the theme will be ‘UK financial services – embracing the online revolution. Confirmed speakers include Syed Kamall, MEP; David Rennie, Cabinet Office’s Government Digital Service (GDS) and Gemma Godfrey of Brooks Macdonald.