Crowdfunding Can Democratise the Financial Sector, and Wrestle Back Power from Banks, Bank to the Future Co-Founder Says

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Simon Dixon, co-founder of Bank to the Future, says the banking sector needs to be radically changed, and predicts crowdfunding will be the model to hand power back to the people - in a Find the Edge interview published today.

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"We're moving to a world where what gets funded is a reflection of the values of society, rather than a world where what gets funded is what makes more money for a bank."

Crowdfunding will change the world by democratising the financial sector, and ensuring the values of the public are reflected in choices - rather than the whims of the banks.

Simon Dixon made the comments in the second part of an interview with Find the Edge's Kenny Goodman.

Dixon, who co-founded, Bank to the Future, discusses the problems with the current banking system in the interview, and explains why he and his wife set up the company to show that there is an alternative.

He believes crowdfunding can have a genuinely positive influence on the world: "It shifts the world, to a world, where people can build finance based on shared ideology.

"If you’ve been behaving well online, and been building good networks offline, then your crowd funding is going to be successful, because you know lots of people who are all going to be willing to chip in a small amount to support you, because you’ve built those relationships."

Among the topics of discussion during the interview is Dixon's belief that the banking sector needs a shakeup, and the work he has been doing with MPs consulting at the House of Commons and Lords about the issues.

He believes crowdfunding could hold the answers to restoring trust in financial institutions.

He said: "What is really interesting is when every single financial product becomes a crowd funded product. Including insurance, including mortgages – and everything will. Once that happens, we shift from a world where institutions decide who gets the money, to ordinary people deciding who gets the money.

"That’s moving to a world where what gets funded is a reflection of the values of society, rather than a world where what gets funded is what makes more money for a bank."

The full interview can be viewed here: http://www.findtheedge.co.uk/interviews/interview-with-crowd-funding-champion-simon-dixon-part-2.

Simon Dixon co-founded Bank to the Future, which allows businesses to seek finance from an audience of investors, and the site has been endorsed by Sir Richard Branson. More about him can be read here: http://www.findtheedge.co.uk/interviews/interview-with-crowd-funding-champion-simon-dixon-part-2.

Kenny Goodman, founder of Find the Edge, said: "It really is refreshing to speak to someone who's as interested in making a difference as he is in making money.

"It's clear that Simon cares deeply about these issues, and is taking steps to lead the way to a more sustainable future for banking."

Find the Edge is a business website that features news, advice, articles and interviews.

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Kenny Goodman
Find the Edge
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