The two-day event gave leading lights from across the fintech industry an opportunity to showcase their latest strategies, projects and innovations, while attendees soaked up valuable insight and expertise.
This year's edition of FinTech LIVE concluded with the Financial Services Forum, featuring:
- Benjamin Maxim, Chief Digital Strategy & Innovation Officer at MSU Federal Credit Union (MSUFCU)
- Amélie Doublet, Legal Counsel at Convera
- Alexander Perko, Strategic Partnerships Director at Minka
Getting the basics right
Asked what the key technological innovations in the industry might be over the coming years, Perko emphasised the importance of first ensuring foundational layers are in place.
"I think the most important thing, fundamentally, is that we get the the basic principles right – if we look at foundational layers – to allow the fintech innovations to thrive," he said.
"Without the foundational layers being built properly and aligned regionally or globally, the chance of a fintech innovation – that could be blockchain based or AI based or any other form of data tech – thriving and having the biggest impact on more people is more limiting."
Doublet was in agreement and shifted the conversation to customer service and experience.
She added: "It's about asking yourself, not necessarily what is the most important technology, but what is a technology – whether that's an emerging technology or perhaps an existing one – that is going to give the best customer experience.
"Ultimately, as financial service providers, that always has to be the key focus.
"One key trend we've been seeing, which is in part due to digital innovation, is a lot more empowerment of customers – whether that's
because they have access to more service providers with new actors such as e-money providers, crypto service providers and so on, or whether that's because they have a greater choice of services.
"The greater choice of services is in big part due to digital technology, things like very powerful APIs which are able to embed microservices within each other. For example, now, when we shop online, we have buy now, pay later, which is incorporated in many, many shopping platforms.
"All of that is giving customers a much greater, more sophisticated and customised experience where they can pick and choose."
To watch the session in full, simply follow the video link at the top of this story.
Want to see more from FinTech LIVE London 2023? Stay tuned to our website for more content, which will be coming your way very soon.
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