As Fintech rapidly redefines what is possible in the digital economy, businesses can harness the power of thinking like a Fintech to drive more revenue and get closer to their customers this year and beyond. With the pandemic drastically increasing the adoption of digital commerce and banking, learn how Fintechs are changing the economic landscape and what challenges and opportunities face Fintech innovation.
This session will discuss...
- How FinTechs have changed the economic landscape over the past few years
- Creating operational efficiencies (Plaid, for example, provides access to banking data.)
- Democratizing access to financial institutions (Robinhood, for example, is a platform for stock trading and neobanks, and has no fee retail banking)
- Growing the eCommerce sector (digital wallets have led to higher conversion; in-store to online commerce during the pandemic facilitated by mobile checkout)
- Making the world smaller, cross-border money movement getting faster, less expensive (Digital currencies, Transferwise, Novi, Checkout.com - single API for all regions, OCT payouts)
- Regulatory hurdles - FinTechs have to invest in multi-year licensing and compliance hurdles
- Security / risk: banking & payments data are some of the most sensitive things to handle, so companies need to ensure they can’t get that wrong as one bad move and you’ve lost your customers’ trust.
