Creating Strategic Value through Financial Technology

CHAPTER 1What Is Financial Technology?

TECHNOLOGY'S IMPACT ON FINANCIAL SERVICES

Tennis was invented a long time ago. How long ago? Well, it depends upon whom you ask. Similar to a number of other sports, the origins of tennis are unknown. The earliest records of the sport include paintings of European commoners and royals batting a ball around. However, the history of modern (lawn) tennis is clearly documented, as it was first publicly announced in March of 1874 by two British papers. The announcement included a patent for “A Portable Court of Playing Tennis,” which included a history of the sport, instructions for how to set up the court, and rules of the game.

While basic tenets and elements of the game have remained similar over the years, tennis continues to evolve with changes to scoring, court surfaces, equipment, and playing styles. A key driver of these changes is the influence of technology. The development of stronger and lighter materials for a variety of industrial purposes would not at first glance be noted as a key driver of change in tennis, but these changes had a significant impact on the game. Graphite and other stronger, lighter synthetic frames are commonplace in the game today. The last wooden racket appeared in a major tournament in the 1980s. The confluence of technology and design affects balls, court surfaces, and even the pristine grass of Wimbledon. Many players now regularly use high‐tech training tools to improve their fitness and stroke mechanics. ...