A thought leadership series on the future of finance and regulation
From breakthrough innovations to regulatory rethinks, this series features long- and short-form pieces by CCAF staff, fellows, and research affiliates – writing in a personal capacity.
Articles explore the fast-evolving intersections of financial innovation, market structure, policy and regulation, and the shifting systems that connect them. Views expressed are those of the authors and do not necessarily reflect those of the Cambridge Centre for Alternative Finance.
Explore the series
Industry leaders face a choice: act now or risk the integrity of blockchain-based markets and digital currencies, says Wenbin Wu, Research Associate at the Cambridge Centre for Alternative Finance (CCAF), Cambridge Judge Business School. Here we reveal regulators’ and policymakers’ bridging roles for quantum-resilient blockchains, and the importance of collaboration by technologists, economists, and regulators in the quantum age of financial technology.
AI and technology
How can AI in finance realise its full potential?
Kieran Garvey, AI Research Lead at the Cambridge Centre for Alternative Finance (CCAF), and Bryan Zhang, Co-Founder and Executive Director of CCAF, explore why banks struggle to turn AI efficiency into growth.
AI and technology
Innovation to impact: technology, governance and regulation
As governments worldwide grapple with the accelerating pace of technological change, the central challenge is no longer technical but institutional: how to translate digital innovation into citizen-first outcomes at scale. The obstacles lie in execution – requiring effective governance, adaptive regulation, and institutional transformation. In this piece, Carlos Montes (Lead – Cambridge Innovation Hub for Prosperity, Montek Singh Ahluwalia (citizen-first public servant and economic reformer), and Pavle Avramovic (Head of Market and Infrastructure Observatory at the CCAF), examine how public institutions can move from policy ambition to real-world impact by building innovation-ready systems that prioritise citizens over processes
AI and technology
From innovation delta to regulatory singularity: how innovative regulatory systems can help regulation keep pace with financial innovation
The global financial system is undergoing a profound transformation driven by digital innovation. Yet, the pace of regulatory innovation and the scale of digital transformation within public authorities remain uneven and comparatively insufficient. This article, by Bryan Zhang, Co-Founder and Executive Director of the Cambridge Centre for Alternative Finance, examines the widening innovation gap between innovators and regulators, and outlines potential strategies to foster and accelerate system-level innovation within central banks and financial regulators across both developed and developing economies.
Finance and accounting
Transition finance: bridging the climate investment gap
Philippa Martinelli, Head of Climate & Transition Finance at the Cambridge Centre for Alternative Finance, explores the vital role of finance in tackling climate change. The article highlights the scale of the challenge, the urgency of transition finance, and the investment shifts needed to build a low-carbon, resilient global economy.
Finance and accounting
Data sharing as the way forward
In this article, Bryan Zheng Zhang (Executive Director and Co-founder of the Cambridge Centre for Alternative Finance) and Pavle Avramovic (Head of Market & Infrastructure Observator at the Centre), highlight how open banking and open finance are reshaping global financial services through secure data sharing. With over 95 countries adopting frameworks, the shift is delivering benefits for consumers and SMEs, while becoming a key layer of digital financial infrastructure – despite ongoing challenges around privacy, regulation and implementation.