The final day was to hold our attention to the last. Strong themes of open banking, payments and security continued to be debated on the 5 Tracking Stages. Speakers from Nordea, Deutshe Bank and Saxo Payments took the conversation beyond payments and considered transaction banking as the next wave of innovation with cash management, trade finance and risk management.
Identification continued to be a headline topic with the role of financial services in creating digital identities. Speakers from Bitfury, Santander and Capital One represented an ecosystem that is transforming at speed without compromising on security. As the FinTech revolution moves ahead will customers trust new systems that hold the key to their finances and online identities?
Zennon Kapron and and Marie Aquino from Kapronasia started the day in Track Room 2 with ‘China, A Day In the Life: How Digital Finance Influences The Way That 1.5 Billion People Pay, Shop and Save’. What has become abundantly apparent is that the largest FinTech market in the world has matured and continues to move into international markets. As a case study into the way FinTech might effect the way financial services operate and how diverse these products and services can be, this presentation gave a glimpse into future of what might be for Europe and the rest of the world.
After lunch the Keynote Stage began with Rita Liu, Head of EMEA, Alipay. With over 450 million users in China, Alipay has been working with companies overseas and with mobile wallet partnerships across countries such as India, Thailand, Vietnam and South Korea.
Next on Stage was Jonathan Larsen Chief Innovation Officer, Ping An Group, Chairman and CEO, Pin An Voyager Fund representing one of the largest FinTech funds in the world.
Will Gaybrick, Chief Financial Officer, Stripe followed giving a mind opening presentation of the nature of money and value. As a theory from a payments point of view the velocity of movement over amounts held is what drives a successful economy.
The event ended on a high with the winning presentation of the BBVA Open Talent Competition for AI awarded to Change, and the winning pitch from Money 2020 Startups went to NewBanking with EnterpriseBot and GetPenta in second and third place.
My overall impression of the event was that both Money 2020 and the FinTech industry as whole has consolidated. FinTech is now at the head of financial services and the conversation is moving from speculation to results. What struck me the most was the innovation echo chamber seems to be thankfully on the decline and is being replaced by candid conversations about the new data that’s coming in from digital transformation and the questions that are arising from it.
Money 2020 continues to deliver a unique and valuable experience for anyone in finance and technology. With an eye on Google news search as announcements were made live, I could see that for three days Copenhagen was central to the future of finance.