An international Fintech Conference Money 20/20 is taking place in Amsterdam on June 7-9th and here is what you need to know about the event’s agenda.
The future of finance — this phrase can best describe the agenda of the event now dubbed as the ‘most important finance event in the world’ by some media outlets. Participants from every corner of the industry including banks, Fintechs, regulatory experts, retail companies, and many more will share insights in talks and discussions about what’s next for the finance industry. Here are some of the highlight topics you can expect in the upcoming conference in June.
One of the key topics at the conference will be looking beyond the pandemic into the future of finance. The pandemic has accelerated digital adoption and triggered a new era, which was given the name Fintech 2.0. Today, the majority of people worldwide have internet access, and access to electronic money services either through financial institutions or mobile. Move away from cash has made financial solution adoption more diverse and the finance industry itself more interconnected. Experts speaking at the conference and the financial community have their eyes set on making bold predictions about just how the industry will change and grow. Such factors as technology, regulation, data, growing ecosystem, CBDCs (Central Bank Digital Currencies), as well as investment in diverse assets will be discussed.
Money 20/20 believes women and racial minorities should have a louder voice and more seats at the table in financial services. The conference initiative is aimed at amplifying those voices and opening doors by collaborating with the community to empower real change, helping erode systemic bias. As a result, the speaker lineup is heavily loaded with industry superstars such as Anne Boden, Helen Hai, Charlotte Hogg, Chi Achebe, Herbert Wigwe.
Open Banking & Embedded finance
With an estimated $3.5 trillion market size by 2030, embedded finance is slated to be the next big thing for the retail industry. Some predictions claim that 96% of businesses will launch an embedded finance offering by 2026. However, to date only a quarter of retail leaders globally have implemented their embedded finance offerings .Early adopters are already tapping into this opportunity – Walmart, for example, is investing heavily in building out financial services offerings with intent to compete in the consumer financial sector. Money 20/20 will feature various discussions on this opportunity and why companies should consider entering the embedded finance market.
Open banking is another system with high hopes of wide future adoption as it enables a new generation of fintechs. Several trending discussions will revolve around opportunities to make money transfers cheaper and more secure with open banking solutions, the rise of alternative payment methods that use open banking, and other fintech solutions that can ultimately change consumer behavior and disrupt industry status quo, including A2A payments. Various panel discussions with experts in open banking will explore ways that the industry can get ahead and receive an even wider mass adoption in the years to come.
The Future Consumer
Key part of the financial industry’s success is identifying the consumer behavior trends and how they will affect commerce in the near future. Consumer behavior will be put under a magnifying glass during the Money 20/20 conference as experts discuss how the future consumers feel, make decisions, and what they demand from commerce. Companies setting strategies will have to consider the key behavioral drivers set to impact consumer mindset such as numbness, time perception, hope, and cautious motivation according to the Money’s 20/20 sister company WGSN.
Nikulipe CEO Frank Breuss and CCO Erika Maslauskaite will also be a part of the upcoming conference in Amsterdam. Two experts on local payment methods in Emerging and Fast-Growing markets are looking forward to discussing the future of finance, and more specifically the topics of payment complexities, Open Banking, e-commerce in Emerging markets and the future of payment infrastructures.