FinTech is a space where the centuries-old traditional finance sector is evolving rapidly thanks to the well-funded tech innovations. Established banks are also investing massively in #FinTech to improve customer experience and their overall business.
We were at Money 20/20, Amsterdam, Europe’s largest FinTech event. As they say it is an event “where technology meets money, money meets people, people meet ideas and ideas become reality”.
Here are some learnings from the event:
"Build functionally to help customers save time. Predict behavior and alert them when there are deviations from what was predicted." @carlostorres – CEO of @bbva #M2020EU #Money2020 #Money2020EU #Money2020Europe @Money2020 #Fintech #Technology #CustomerFirst @warrendv
— Currencies Direct (@CDBusiness) June 4, 2018
Banks know a lot about their customers and they spent a lot of time with big data / AI to get the same insights that we already know. That's frustrating for banks and customers. Being 30% right is not enough.
HSBC COO #M2020EU #money2020eu— Rafael Otero (@Rotero) June 4, 2018
Banks actually offer only five products, and the only way to differentiate is by services, and the standards for services are set by the big and small techs; Ralph Hamers at #Money2020 #money2020eu
— Hartmut Giesen (@hartmut_giesen) June 4, 2018
Investing in emerging markets inevitably involves short-term pains for long-term gains. That’s why anyone investing in emerging markets should plan to buy and hold these investments for several years, if not decades – https://t.co/wnvmz1hQ6Y #StockMarket #Investing101 #Money2020 pic.twitter.com/W7BSX6Vti8
— Jim Doyle (@JDoyleVancouver) June 4, 2018
#Ripple, the #blockchain-based payment network, is donating $50 million to 17 universities around the world to bolster the adoption of blockchain technology. #money2020 #money2020Eu #Fintech #Education #Fintech #Universities #UK #Bahrain #Netherlands #USA #GCC #Asia #Europe pic.twitter.com/oKsR6Oo2Cs
— Muhammad Irfan (@MIjarral) June 4, 2018
Interesting to see the fintech industry chugging along on fiat/bank rails. I wonder if any of them realize those rails are terminal. Tomorrow's financial order will be built on blockchains, digital assets, and open networks. #money2020
— Erik Voorhees (@ErikVoorhees) June 4, 2018
About fintech and innovation HSBC’s Maguire says they are not in the business in inventing technology but want to use tech to make life better for customers. Fin tech onboard g in about a eek with full contracting about a month. #money2020 #M2020EU
— akohli (@akohli) June 4, 2018
From zero to 2500 – a decade long emergence of financial, banking, payments and monetization APIs, a shift that created precedent for #OpenBanking. API numbers pre-2008 are odd, plenty of payment gateway APIs in place years earlier – just no Fintech industry. #Money2020 #M2020EU. pic.twitter.com/R1ayGA4CyL
— Rob Fernandes (@rob2775) June 6, 2018
The EU regulators have not come down harder on european banks. Privacy is a human right. GDPR is a first step and the rest of the world will be adapting similar standards.
BBVA CEO #M2020EU #money2020eu— Rafael Otero (@Rotero) June 4, 2018
We gathered a lot of insights from the event, we are sure you did too. Make sure to keep watching this space for more such well-curated content.
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