Five speakers not to miss at Finovate Berlin 2020
1. Asaf Yacobi, S...
With Finovate 2020 kicking off tomorrow, FinTech Magazine shares our five favourite fintech leaders who will be speaking at the event.
1. Asaf Yacobi, Solutions Architect Director, EMEA, buguroo
Power Panel: Which New Technologies - DLT; AI; Cloud; Quantum; Data Analytics; Cryptography & Biometrics - Will Transform Financial Crime Management?
Tuesday, 11 February 2020 10:30am - 11:00am
Digital Future Industry Stage
With over a decade experience in the cybersecurity sector, Asaf Yacobi, the Solutions Architects Director at buguroo, has a tremendous amount of insight into some of the most important aspects of finance and technology today. Previously, he served as an Regional Presales Manager EMEA with IBM Trusteer and also worked with NICE Actimize, specialising in leadership and system engineering across MENA and APAC regions. He will be joined by Wendy Jephson, Head of Behavioral Science at Nasdaq and Joost Van Der Burgt, Senior Policy Adviser Fintech & Artificial Intelligence at De Nederlandsche Bank, with panel moderator David Birch, Director of Innovation & Global Ambassador at Consult Hyperion.
2. Benoît Legrand, Chief Innovation Officer, ING
Keynote Address: Mapping Out Your Digital Transformation Journey & Finding New Revenue Streams By Putting Yourself At The Heart Of Your Customers' Lives
Tuesday, 11 February 2020 11:35am - 11:50am
Digital Future Industry Stage
Benoît Legrand will be leading the keynote address on mapping out a company’s digital transformation. The Chief Innovation Officer of ING has considerable international experience across the ING Group and has worked in investment banking, retail and private banking. With specialist knowledge marketing, sales, branch distribution and product management in Belgium, Singapore, Poland, the Netherlands and France, his keynote will certainly be interesting as draws on his extensive experience while representing one of the largest financial services companies in the world.
We reported on ING at the end of 2019 in an exclusive interview with Paul Spronk, Head of ING Labs Singapore, who details the company's close work with startups and partners to innovate for its clients in an ever-changing landscape.
Ghela Boskovich, Founder, FemTechGlobal
Opening Remarks From The Chair
Tuesday, 11 February 2020 11:30am - 11:35am
Digital Future Industry Stage
Ghela Boskovich is considered a champion of diversity and inclusion across the fintech industry. The founder of FemTechGlobal, Boskovich specialises in the commercialisation and innovation of the banking sector and the fostering of ethical data democracy. In addition to this, she is also Head of Europe for the Financial Data and Technology Association. She will be providing the opening remarks at the event.
4. Jeremy Light, VP of EU Strategic Accounts, Ripple
Power Panel: The Future Of Real Time Payments; Cross Border Payments & Real Time Cross Border Payments…
Tuesday, 11 February 2020 3:05pm - 3:40pm
Payments Industry Stage
Jeremy Light is responsible for strategic accounts in Europe for Ripple and is experienced across the payments industry, with a particular focus on cash management, international payments and trade.
Joining him on the panel is: Steven Marshall, Chief Commercial Officer, Crown Agents Bank; David Michenry, Managing Director - EMEA Head of Global Treasury & Payment Advisory at Silicon Valley Bank; and Ireti Samuel-Ogbu, Managing Director, EMEA Payments and Receivables at Citi. The panel will be moderated by Author Chris Skinner.
5. Yoni Arbel, Head of Treasury, Transferwise
Fintech & Investor All Stars: Where Is The Smart Money Investing In Fintech Around The World? Why Do You Need Different Regional Strategies? Is The Fintech Market Due A Correction? Who Will Survive & Become The Next Generation Of Unicorns?
Wednesday, 12 February 2020 4:40pm - 5:20pm
Yoni Arbel has been with Transferwise for over a year and is responsible for assisting with ensuring efficiency in transfers while mitigating FX risks. Joining him on the panel is Nick Sando, Venture Capital Investor at Octopus Ventures; Luis Valdich, Managing Director, Venture Investing at Citi Ventures; and Manuel Silva Martinez, Partner at Santander InnoVentures. Hosting the demo is Meaghan Johnson, Co-Host at Breaking Banks. Transferwise has continued to gain immense popularity as it successfully navigated the shifting trends of the industry and is certainly one to catch at the summit.
About Finovate Europe
Taking place at the InterContinental Berlin, this is the first Finovate Europe event to take place in continental Europe, providing a “truly Pan-European experience.” The event, featuring over 50 demos, 150 speakers, and 1200+ senior attendees, will kick off 2020 and the new decade with the latest showcases of practical application fintech.
The event has been showered with praise in the past, hallmarked "the premier financial technology conference" by Bradley Leimer of Explorer Advisory and Capital, and "the best blend of innovation, content and networking" by Cesar Richardson of Strands Finance.
When: 11-13 February, 2020
Where: InterContinental Berlin, Berlin, Germany
For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.
FIVE things fintechs must do to keep investors onboard
New investors flocked to the stock market during the COVID-19 pandemic. Thirty-eight percent of investors said they had never had a brokerage or similar account before opening one in 2020.
Low or no-fee trading options have helped accelerate the trend – nearly half of new investors said they accessed their account primarily through a mobile app. As FinTechs, how do we create the trust needed to keep new investors in the market and create a fruitful customer experience for them?
The financial industry does a disservice to individual investors if we merely offer tools that focus on making money quickly, an approach that usually backfires. Instead, the surge of interest presents an enormous opportunity for those who want to help more consumers use financial technology to educate them on responsible spending, saving, and investing in order to achieve financial wellness current fintech tools have welcomed individual investors in the door.
Now, it’s time to focus on education and improving their experience going forward. There are several ways those of us in fintech can step up to shape the future of retail investing so that it works better for everyone, starting with the following areas.
Equal access to financial wellness education
Financial health should be available to everyone — but today, not everyone has the educational resources to achieve it. One study shows that only 3.9% of students from low-income schools were required to take a personal finance class. What they aren’t learning in school or from family members, fintech companies can provide on their platforms.
The companies should move from solely offering financial services to a more responsible model of education, advice, and prescriptive choices to help consumers develop better habits and make wiser financial decisions. Not only can they empower consumers and bridge historical wealth divides, but they can also stimulate growth by opening up new consumer segments.
Just as we’ve come to expect that our fitness routines are tailored to our individual bodies, we’re also ready for finance tools that go beyond one-size-fits-all solutions. But only six percent of financial institutions say they’re using the kind of technology that allows them to deliver a deeply personalized experience. Fintech tools need to reflect that financial success looks different for each of us.
For one consumer, it may mean providing guidance on how to pay off student loans early; for another, it may mean prescriptive actions that enable them to stick to a budget for the first time; for a third, it could look like prioritizing environmental, social and governance (ESG) investments, so that her portfolio aligns with her political beliefs.
Now, we are seeing financial technology beginning to meet the demands of personalized finance in a substantial and meaningful way.
The rise of AI-Powered Advice
Big-picture advice and predictive guidance used to be a feature of high-end financial advisory firms — a perk only available to those who could afford it. But thanks to rapid advancements in data analytics and artificial intelligence (AI), that kind of holistic advice is now more accessible than ever. AI-driven robo-advisors can parse many different streams of financial information, delivering customized answers to key questions: Is it time to buy a home, or is it smarter to keep renting? Can I afford to take out another student loan?
Intelligent connectivity powered by AI can anticipate consumers’ needs and next steps, making proactive suggestions that guide them along the path to financial wellbeing. Fintech companies can also help consumers identify when their financial picture becomes too complex for a robo-advisor, and help them find a human financial advisor to meet their needs.
Focus on financial mental health
New investors are quickly finding that the market can be overwhelming. That’s not surprising, financial anxiety is common and studies show that financial stress can have an impact on mental health for some.
It’s not enough for fintech companies to give retail investors access; they also must provide the guidance and support that help consumers manage their financial well-being. Educational tools can ensure that consumers are well informed about their options.
Predictive analytics can anticipate consumers’ questions, serving them key information and insights before they ask. Features that emphasize a comprehensive notion of financial well-being, rather than short-term wins and losses, can also help ensure that consumers are keeping their eyes on the bigger picture.
Gamification for good
The surge of gamification apps has done an impressive job making investing as engaging as playing a video game or joining a social media platform.
Much of the current use of gamification emphasizes short-term thinking, but there’s also an opportunity to help consumers think more broadly about their overall financial picture. One example is peer benchmarking, a feature that enables help consumers to see how their financial habits compare to those of friends and fellow consumers.
Gamification can also be used to incentivize making smaller, smarter choices — for example, rewarding saving over making an impulse buy.
The future of fintech is about more than just broadening access to the markets. It’s about making sure more individuals have access to the tools that can help improve their financial well-being—in the ways that suit their own circumstances and needs. The potential to act within their own set of individual priorities, with their long-term financial wellness in mind is much more empowering to a consumer than simply relying on short-term, high-risk investments.