Fintech Finance Podcasts: The FF Salon (FF News | Fintech Finance)

In this episode of the Fintech Show we’re talking about AI in the financial sector with Jonathan Hall, Head of Digital at NatWest, Roland Brandli, Strategic Product Manager at SmartStream Technologies and Dr Shivaji Dasgupta who is Chief Data and Intelligence Officer at UniCredit. At Sibos 2023, Brandli lets us know how ISO 20022 will shake things up, making huge amounts of data available.

The challenge of course, is how institutions deal with that safely and effectively. AI could be the answer and we hear about the flexibility SmartStream offer in this area. Hall takes us beyond the buzzword and reveals multiple use cases including the ability to clean up data and identify trends. Dasgupta echoes this and talks about bringing real value to customers and staff, particularly in the area of access rights. It’s a fascinating look at where this technology is heading.

In this episode of The Fintech Show we speak to Shayan Hazir, Chief Digital Officer at HSBC, Roberta Bill, Product Manager at SmartStream Technologies and Rana Bhattacharya, Chief Information and Digital Officer at Cynergy Bank to find out how they’re using AI to create efficient processes and improve customer experience. Bill lets us know how their product Air does just that, AND clears the way for better strategic analysis at the same time.

Hazir and Bhattacharya are well placed to discuss their AI ambitions using technology like this. Hazir points out that turning to AI has to begin with the customer journey and stewarding the technology effectively. Bhattacharya says that automation is good news for customers who can look forward to better insights in future.

In this episode of the Fintech Show we speak to Trevor Tannenbaum from the Cambridge Building Society, Michelle Yu and Jennifer Harris from Sandstone Technology and Tina Hughes from Yorkshire Building Society to find out how the future of building societies rely on embracing digital channels.

Building societies have a promising future ahead where good customer service entails the use of effective digital channels. As shown by Nationwide’s recent moves to acquire Virgin Money, there’s plenty of potential for this breed of mutually owned financial institutions in the UK. The question is what technology do they need to move forward. 

In this episode of the Fintech Show we spoke to Trevor Tannenbaum from the Cambridge Building Society, Tina Hughes from Yorkshire Building Society and Michelle Yu and Jennifer Harris from Sandstone Technology to find out how building societies are embracing digital channels.

Of course, digital transformation doesn’t always come easily and can be very costly. In the event that something goes wrong, and customers are affected, fines could be handed out, as TSB found out. So it’s understandable that some financial institutions are hesitant about going down this road. But it doesn’t have to be this way and there are numerous strategies for updating your services, without disrupting good customer service. 

Sandstone Technology are perfectly placed to explain how technology can be implemented into the banking and customer experience of those using building societies. In the video above, Sandstone CPO Yu, who we also spoke to in a recent virtual arena, emphasises the importance of digital channels for building societies to stay relevant, whilst Chief Customer Officer Harris explores the challenges they face in adopting new technology.

Harris recognises that moving away from or adapting legacy technology is time consuming. However, as you’ll see, the benefits outweigh the concerns and technology providers like Sandstone ensure that whatever new products or channels you want to add, they integrate seamlessly with the existing stack. 

No conversation on this topic would be complete without talking to building societies themselves. We were fortunate to speak to representatives from two of the UK’s premier institutions, Yorkshire Building Society and The Cambridge Building Society. 

In the episode, both Hughes from YBS and Tannenbaum from CBS reveal their respective organisation’s approaches to digital transformation and we hear some success stories that have come about through changes they’ve made. That includes Tannenbaum explaining how their mobile app has become their most popular channel for customers interacting with the bank.

YBS, who now see 70% of new accounts opened online, are an organisation always striving to provide a good digital service, however there are also considerations to be made about striking a balance between in-person and online experiences. Hughes echoes some comments that Yu makes about making sure older demographics are not left behind and are given a good in-store experience that can serve their needs too. 

Ultimately, all our speakers agree that a multi-channel approach that integrates and offers the same level of experience across the board is needed. 

At our FF Salon for Money20/20 Europe 2023, we met with Sandi Samantaray, VP of Product at Thredd, to delve into the company’s core operations.

Thredd is a technology firm offering cutting-edge data analytics and business intelligence solutions, enabling organisations to leverage data-driven insights for informed decision-making and accelerated business growth.

“My background has been into banking and finance. I’ve spent around more than a decade with banks and tech companies, so I know the space. It’s been really exciting with what we are seeing in terms of movement in this space.”

“We are extremely conscious of the fact that we are building something that’s going to be rock solid, that’s robust, and we are building the base. If the platform works, everything else can be plugged into that. So one of our focuses for the next 12 months is basically launching more products and features into that.”

Join us for an enticing episode of The Insurtech Show, as we present captivating interviews that unveil the evolving landscape of the Chief Financial Officer role in insurance. Discover the profound impact of regulatory changes like IFRS 17, as we delve into the challenges and opportunities they present.

Over the years, the CFO role in insurance companies has undergone remarkable transformations, evolving into a more strategic and technologically adept position than ever before, additionally with a significantly expanded skill set.

Embark on an exhilarating journey in this captivating episode as FF News engages in insightful interviews with esteemed professionals from the insurance industry. Join Liza Richardson, VP of Solutions – Finance Transformation at Aptitude Software, Torstein Sandaa-Johansen, CFO and Co-Founder at Kvikk, and Simon Pink, UK Head of Emerging Technologies at QBE Ventures, as they provide invaluable perspectives on the ever-evolving role of CFOs.

Live on LinkedIn today from 14:30 BST

Join us at the FF Salon at Sibos with Martin McCann, CEO of Trade Ledger, as he unveils the world’s first generative AI interface in commercial lending! In this exclusive interview, Martin, probably with some of the longest hair of the FF Salon, discusses Trade Ledger’s groundbreaking technology, set to transform the way we interact with banks. Discover how this innovation, deployed through Microsoft Teams, is reshaping commercial bank business models and eliminating the need for traditional, time-consuming interactions. Through Trade Ledger banks’ Receivables Finance customers at the end journey have had their approvals cut from nearly two months to 48 hours!!!! Don’t miss out on the future of banking—watch now and stay ahead of the curve!

In this episode of The Paytech Show we’re in Cambodia hosting Sathapana Bank‘s Deputy CEO Jean-Pierre Gagnon along with Bottomline Business Development Manager Pecharatham Chaitantipong, to find out how they’re partnering to increase speed and agility in advance of ISO 20022. Speaking to Douglas Mackenzie, Gagnon talks about the benefits of de-risking their transactions and improving their capacity to go cross border.

Chaitantipong from Bottomline, explains how they leverage the Swift network and Visa B2B Connect to help smaller institutions connect with the rest of the world. It’s really all about increased levels of choice and opening up new markets to facilitate growth and you’ll be fascinated to see where it’s heading.

In this episode of the Fintech Show we’re talking risk management and fraud prevention in the receivables finance sector. We speak to Ahmed Amin and Andrea Tanner from Lenvi, to find out about their work and how their software Riskfactor could hold the key to better processes in this area of finance.

Risk management in banking is as big of a concern as ever, with liquidity under pressure from high interest rates and challenging economic conditions. In this video we hear about the market dynamics affecting lenders right now and what is needed to effectively manage a growing portfolio.

There are also understandable concerns about fraud, something which poses a threat to any financial institution. The cost of fraud is huge, and according to this McKinsey report, “In 2022, the FTC reported that scams were up 49 percent from 2021, with consumers losing nearly $8.8 billion.” Nascent technology is also potentially exacerbating the issue, with AI driven fraud increasingly coming to the forefront.

Our speakers are perfectly placed to discuss the issue, as Lenvi recently released their own report oAn being prepared for Fraud. Their 2023 European Fraud Readiness Report uncovered attitudes towards and concerns around Fraud in European Receivables Finance in particular.

Some of the findings include almost 90% of respondents feeling that fraudulent activity has increased in the last year. 70% said fraud is a significant risk to their receivables finance business in particular. Most concerning is that almost one in three respondents believed their company detected no more than half of the attempts made to defraud their business.

Alongside this research, Sales Director Amin and Head of Customer Success Tanner, bring decades of experience in financial services, banking and receivables finance to this insightful conversation.

The discussion delves into Riskfactor’s functionality, highlighting its ability to leverage data from core operating platforms to detect changes in behaviour, indicative of fraud. By streamlining this whole process it means employees are better placed to take action and be more efficient.

There’s also talk about how partnerships with third-party software vendors play a crucial role in expanding the reach of their software to global markets. We hear about their European expansion and the recent release of Version five, which boasts improved user interfaces and enhanced data functionality.

Despite economic uncertainties and an uptick in fraud, there’s a lot of optimism here as a growing emphasis on automation and improving internal processes in receivables finance could change the game. Risk factor’s risk-based approach and ability to cater to diverse client segments, especially SMEs, position it as a valuable tool in navigating evolving market dynamics and managing portfolio growth efficiently.

Riskfactor could play a pivotal role in your business and this video explains why. Watch to find out more.

Step into the FF Salon at Money20/20, where engaging conversations unfold. Host Emily Redding and guest Roisin Levine, Head of UK and Europe at Wise Platform, introduce the captivating world of cross border payments. Discover how Wise’s seamless money movement network transforms cross-border payments, making them quicker and cost-effective. Dive into the transformative power of technology and hear Roisin’s journey in shaping the financial landscape

Building a bank for smaller businesses.

In this fascinating episode of The Fintech Show, get an insight into how banks effectively serve SMEs today and in turn what those businesses are looking for from their bank.

James Holian from NatWest, Niall Devlin from Bank of Ireland and Edgardo Torres-Caballero from Tuum discuss the advanced technologies and data analytics that are needed to meet the diverse needs of SMEs and how banks can get tooled up to leverage them.

Of course, this has to be balanced with a human banking experience and our guests point out how essential this is to staying competitive in business banking. There’s thoughts on how SMEs adapt to the current economic climate and how partnerships and collaboration with fintechs are more prevalent than ever. It’s a must watch.

Digital transformation has had a seismic effect on modern banking already, but it’s always continuing. In this episode of The Fintech Show, Tuum CRO, Torres-Caballero, emphasises the necessity for financial institutions to make sure they’re ready for advanced technologies that meet the evolving needs of their customers.

He highlights that embracing digital platforms is vital for launching services rapidly and meeting customer requirements. By integrating APIs, banks can improve onboarding processes and risk validation, while fintech partnerships can enhance the overall customer experience. He also points out that digital transformation allows banks to bolster their data analytics capabilities and explore the potentials of artificial intelligence.

Moving away from a one-size-fits-all approach, this technology actually allows banks to better serve SMEs with differing needs. Modern, cloud-based technology is also essential for maintaining up-to-date, cost-effective systems that support sustainable growth and operational efficiency.

Both James Holian, the MD of Business Banking at NatWest, and Niall Devlin from Bank of Ireland discuss the diversity of small businesses and the necessity for banks to offer both digital and human support. Holian says that NatWest aims to be the number one bank for small businesses in the UK by combining the best technology, whether developed in-house or sourced externally, to create exceptional customer propositions.

He makes the suggestion that banks today are essentially technology companies, with their products and services increasingly digitized and highlights NatWest’s commitment to providing dynamic, responsive services, facilitated by partnerships with various fintechs. Echoing Torres-Caballero’s thoughts above, this approach helps them leverage data to offer tailored financial advice and support for borrowing and growth, even amidst uncertain economic conditions.

Devlin, the Head of Business Banking at Bank of Ireland, takes us back to the most important stakeholders in this relationship and reflects on the resilience of businesses in the face of challenges such as Brexit, COVID-19, and global political instability. He notes that the current high interest rate environment presents an opportunity for banks to help businesses maximise their liquidity. He also underscores the critical role of technology in enabling efficient and effective banking services, from simple transactions to complex applications.

However, he does point out how important in-person services are, through branches and regional business centres. This dual approach ensures that Bank of Ireland can meet the needs of all customers, regardless of their technological proficiency. Interestingly, there’s also some thoughts about the bank’s efforts to support entrepreneurship through partnerships and educational initiatives.

Balance is key it would seem! Tune in to find out more and be sure to catch more of our great flagship shows on our website.

From Sibos 2023 we speak to Marijke Koninckx who is Chief Product Officer at BankiFi. In the FF Salon chair she tells us about their platform that allows banks to embed financial workflows into their existing channels and gives us an insight into her journey so far.

We hear what it’s like to keep saying ‘yes’ in the ‘crazy world of payments’ and how there is always more to learn. There are also the joys of getting the product in the hands of users and there is a lot to look forward to in the year ahead. Of course, whatever you have planned, Koninckx says, you always have to stay fluid and adapt to changes and new regulations.

A third of global trade now comprises digital platforms and services.

But this shift means financial institutions face new pressure to change the way they do things. Vivek Ramachandran, leads Global Trade Solutions for HSBC, an institution with a long and rich trade history. 

For the latest FF Virtual Arena, we caught up with him to get his perspective on what’s changing and, in advance of a Beijing hosted Sibos, what China and more broadly Southeast Asia’s role is in trade finance.

Watch the conversation to find out more.  

In this insightful interview, Ramachandran gives us a solid overview of the current and future trends that are transforming the world of trade. HSBC have been in the business for more than 155 years and they continue to play a crucial role in the global trade finance ecosystem.

Our Virtual Arenas are all about speaking to the experts and as Head of Global Trade Solutions, Ramachandran knows a thing or two about this space. Of the insights we’re given, none is more interesting than how much trade in services has grown compared to traditional goods trade. Historically, trade was predominantly about shipping physical goods, but according to Ramachandran now services such as cloud solutions and digital platforms constitute nearly 30% of global trade. And according to the WTO, digitally delivered services now equate to 54% of all services exports in general. It makes a big difference. For banks like HSBC it means adapting to new business models and getting tooled up to support companies operating in this new age.

Global supply chains are being fundamentally reshaped due to factors such as geopolitical pressures, cost considerations, sustainability goals, and the need for resilience. As a result, Ramachandran points out that they’re becoming more complex – some are getting shorter and others are expanding. As businesses shift their supply chain strategies, the need to manage risks, and consider sustainability and the impact of trade on the environment, has become paramount. Like many, he believes that being sustainable is no longer a “nice to have” but a “must have” and companies are now expected to address environmental and social concerns not just within their own operations, but throughout their supply chains.

For Ramachandran, sustainability now includes transparency on issues like emissions, forced labor, and supply chain safety. Financial institutions like HSBC want to help their clients solve these issues but also be seen as experts in the matter. 

We also find out about new business models in trade, especially in the realm of digital commerce. Given more and more B2B trade is now taking place digitally (as well as concerning digital services), there are increased challenges in understanding and managing new types of counterparties. Data also plays a role. Ramachandran discusses the anonymity of digital transactions and the new data these transactions generate, which require new digital decision-making tools and customer onboarding processes. 

He also provides a balanced view of the impact that cutting edge technologies could have. While early discussions about distributed ledger technologies and blockchain were promising, the path forward appears to be more government-driven initiatives like the UK Electronic Trade Documentation Act and the adoption of electronic records transfer laws by countries like France, Germany, and Singapore. These initiatives are paving the way for the future of trade digitization, but like many speakers we talk to, Ramachandran emphasizes that technology must be seen as an enabler, not an end in itself.

Of course, given the growth happening in the Asia-Pacific region, and particularly Southeast Asia, we wanted to know about developments in trade finance here. It’s a region at the heart of many of the global trends in trade, such as the restructuring of supply chains and the booming e-commerce sector. He highlights how countries like Vietnam, Malaysia, and Indonesia are becoming major hubs for new manufacturing supply chains, while Singapore leads in trade digitization. He praises Singapore for its innovative initiatives, including its National Trade Portal and its adoption of UN laws governing electronic trade.

We also hear about the annual Sibos event which this year is being hosted in Beijing, for the first time. The location potentially causes some difficulty to other attendees but Ramachandran expresses excitement about the opportunity this presents, particularly given China’s thriving digital economy and innovation in areas like deep-tier financing. He also notes that China remains the world’s largest exporter and is increasingly investing in overseas markets, offering numerous opportunities for both Chinese and global businesses. HSBC themselves have made strategic partnerships in China, to support e-commerce exporters with financing based on transaction data.

There are further points discussed so be sure to check out the whole interview and discover more great conversations just like this one on our website. 

In this episode of The Fintech Show we speak to ClearBank‘s Charlene Lemard-Maxam, Alana Condratov from Freemarket, and Jane McEvoy at BVNK, to explore the difficulties facing small and medium sized businesses when it comes to cross-border payments. Fortunately there are a number of companies seeking to streamline this increasingly important function, including Freemarket. Their Business Director Condratov talks about those challenges, and why innovative companies are thriving in this space.

McEvoy who heads up Platform Partnerships at BVNK, explores the 3 things impacting cross-border payments and the opportunity this has opened up for innovation around blockchain, something they are a leader in. Senior Client Director Lemard-Maxam also talks about this technology and the possible role stablecoins and alternative payment methods can play, as well as how ClearBank fills the gaps left by traditional institutions. Together our guests provide a comprehensive picture of what the future holds.

In our latest FF News Virtual Arena we speak to Head of KPMG Private Enterprise Network, Conor Moore and investor and founder of Globalive, Anthony Lacavera to find out all about KPMG's global technology innovator competition. If you're a startup founder and want to know more about this fantastic competition, in time for entries opening again next year - this is a must watch!

Moore, based in San Francisco, takes us through everything you need to know, including who's eligible, how companies can get involved and what they could gain, even if they don't win. Lacavera who has founded a number of companies and is a judge on the competition, says he wishes it had been around in his early days. He also talks about the valuable opportunity to expand your network and get in front of influential decision makers as an early stage founder. We hear about previous winners of the competition and what tech they're excited to see this time around.

In this episode of the Fintech show we speak to Azriel Chelst VP of FIS Impact Ventures, fintech thought leader and founder of Unconventional Ventures Theodora Lau, and Zak Lambert, Product Leader at Plaid, to unpack the must read FIS Global Innovation Report and reflect on some of the key changes in the fintech industry currently impacting organisational risk. In New York, we heard from co-author Chelst who is perfectly placed to discuss the findings and how businesses can tackle macro risks in order to gain a competitive edge.

From there we jetted over to Nevada to speak to Lau at the Money 20/20 Las Vegas conference, who adds some great insight into the increasing role of AI in financial services, also picking up on the report’s findings around environmental risks. We catch up with Lambert in London, who shares his perspective on the challenges of adopting an innovation strategy and how incumbents and fintechs can move forward. As the FinTech industry continues to evolve, the insights from the Global Innovation Report provide a roadmap for navigating uncertainties and seizing opportunities. The full report is available to download here.

In this episode of FF Virtual Arena we host Temenos Global Head of Partners Paul Carr, Joerg Schmuecker from database dynamos MongoDB and Mark Ashton from CapGemini Financial Services, to find out why componentisation and tech partnerships are essential today.

Having worked with the best in banking to help them innovate, Carr points out that adding components is not just about upgrading legacy systems but also finding new revenue streams. In an increasingly competitive market, banks are increasingly looking at moving data around and leveraging rich data to deliver a better service.

Schmuecker and Ashton have a lot of expertise to offer in this area and talk about accessing data in real time, getting a more holistic view of customers and potentially making AI work for them. We hope you enjoy this fascinating discussion from three financial experts at the heart of innovation.

On this episode of The Fintech Show we’re going on an AI deep dive. It’s the topic everyone is talking about, so we gathered some voices from across the industry to get their thoughts on how this technology is changing banking, payments and more.

We spoke to Haytham Kaddoura from SmartStream about how they’re using AI to help banks analyse data more efficiently than ever before. Ranil Boteju from Lloyds and Jesus Renero from BBVA‘s dedicated ‘AI Factory’ share their expertise around data analytics and let us know how their organisations are working on using AI for good.

We’ve also got excellent insights from Nick Kerigan at Swift who is well placed to discuss AI innovation in the payments space. If you’ve wondered where this technology is taking us, make sure to watch this exciting episode for an optimistic and detailed overview of the opportunities that await the sector.

Introduced in July 2023, the FedNow service was launched for US banks to provide a new instant payments infrastructure across the country. Participating financial institutions can now give their customers the ability to send and receive money in seconds.

In this latest installment of the Paytech Show, we have the privilege of hearing from industry experts who give us an insight into the impact it’s had. 

Anu Somani, Senior Vice President at U.S. Bank, Nick Botha representing AutoRek, and Minal Gupta from Star One Credit Union all explore the landscape of FedNow’s impact in the United States, shedding light on the critical factors banks must consider to unlock its full potential.

According to some sources, FedNow has not been a resounding success, but its user base has undoubtedly grown significantly and the pioneering financial institutions we spoke to attest to it being a game changer. Our show above includes ‘real-time’ perspectives on this ever-evolving area of payments.

Nick Botha draws attention to one key strength of FedNow: it has the backing of the Federal Reserve. With FedNow already operational in over 464 financial institutions across the US, Botha underscores the importance of this endorsement in instilling confidence and catalyzing adoption among banks and financial institutions nationwide.

Minal Gupta and Anu Somani enrich the conversation with their firsthand experiences and observations of the new FedNow system. Star One Credit Union, where Gupta is SVP, have been vocal about their support of FedNow. Both these banking experts emphasize the critical role of streamlining reconciliation processes, highlighting its significance in ensuring operational efficiency and seamless integration of FedNow into existing banking infrastructures. Somani in particular stresses that payments transformation needs to be thought about holistically. 

Their insights offer valuable guidance for banks seeking to maximize the benefits of FedNow implementation.

To add to this, Botha delves into the transformative potential of automation in optimizing banking processes and unlocking new revenue streams. It’s clear that liquidity is a major concern for anyone going on the journey of instant payments, and it’s here that automation plays a key role. 

It’s one of the reasons why AutoRek has been selected as part of the FedNow service provider showcase which has been put together to give these providers an opportunity to connect with institutions and banks looking to implement instant payment products into their offering.  

Join us as we delve deeper into the implications of FedNow for US banks, exploring strategies for success and navigating the complexities of this groundbreaking era in payment technology.

We speak to Nick Jones, co-founder and CEO of Zumo at the FF Salon at Sibos 2023 about how we could be on the cusp of a blockchain breakthrough. Jones who helped set up the crypto and DeFi based company in 2018, talks about his entryway into this exciting world and how we can move towards using data in a way that is transparent and efficient.

He also has some advice for companies setting up a tech business in the current climate. Capital is scarce so there’s even greater imperative to build out your idea and prove and validate the product. And there’s few better people to talk about this than someone who cut his teeth in an exciting new company and then started his own business.

In this episode of the Fintech Show, we speak to Fernando Zandona, CEO of Mambu and Carrie Forbes, CEO of League Data, a cooperative supporting credit unions in Atlantic Canada, to find out how their collaboration with Mambu, powered by a scale enhancing platform from AWS, is helping to overcome challenges related to size, innovation, and digitization. In this insightful conversation from Money 20/20 in Las Vegas, both Zandona and Forbes, delve into the challenges faced by credit unions in this area and how Mambu’s composable, cloud-native solution, in partnership with AWS, is revolutionizing the industry.

You’ll hear about key differentiators such as simplicity, a single codebase platform, and a configuration-based approach that enable rapid innovation, allowing financial institutions to go live in a matter of months. It’s a great case study of collaboration and the future of banking technology in action, providing simplicity and speed.

In this episode of The Paytech Show we continue our look at the payments landscape in Cambodia, speaking to Saren Khchav, the Head of Institutional Operations at J Trust Royal Bank and Pecharatham ‘Ice’ Chaitantipong, Business Development Manager at Bottomline, to find out more. We hear how they are implementing ISO 20022 and Khchav says the increase in structured data and greater clarity in screening will help them to send money more safely and revolutionise cross-border payments.

Chaitantipong shares research that shows the biggest payments pain points facing banks, which includes 35% saying they lack visibility of payment status. Of course, ISO 20022 will help to alleviate this but he also explores the work they’re doing during the current coexistence period.

Damien Dugauquier, CEO and Co-Founder of iPiD visits the FF Salon to talk about their international payments solution and how they’re aiming to make international payments as safe and seamless as domestic payments.

There’s talk of combatting fraud with their API based offering and he discusses the challenges of being a smaller provider in a big pond. However they’re seeing real movement and increased opportunities in the last couple of years. The impact they’re seeing makes it all worth it.

On the Paytech Show we love discovering what’s happening in different regions around the world. In this episode in partnership with ACI Worldwide, we’re shining a spotlight on the Colombian payments ecosystem.

The country is experiencing a revolution in the way they pay, so we spoke to some key players to find out more. Talking us through the changes is Sonia Gomez from ACI Worldwide, who spoke to Douglas Mackenzie about the increasingly busy payments landscape in LATAM and how technology like their own is enabling faster, more efficient internal and cross border payments.

Even the oldest financial institution in the country, Banco de Bogota is recognising their need to keep up with disruptors. In this episode, their VP of technology Oscar Quintero spoke to Ana Bennett about how banks and fintechs can partner towards progress, whilst acknowledging the importance of regulation and security. We hope you enjoy finding out what’s happening in Colombia.

Banking has been well and truly disrupted by the challengers.

In this episode of The Fintech Show, we find out what’s changed and how institutions of all sizes can now differentiate themselves in an increasingly competitive market.

Our stellar line up of industry experts includes Bianca Zwart from bunq, Peter-Jan Van De Venn from Hexaware and Arunan Tharmarajah from Wise.

Together they discuss growing pressures from tech-savvy consumers, differentiation through innovation and the impact of regulatory changes. We get some real business cases and hear about the partnerships that are making transformation possible.

Read on to find out more.

In this episode of The Fintech Show, three industry experts delve into the primary drivers and implications of digital transformation in the banking sector. We were pleased to speak to Peter-Jan Van De Venn, VP Global Digital Banking at Hexaware (FKA Mobiquity), who emphasizes the critical role of customer demand in pushing banks to innovate. Hexaware are the experts when it comes to helping banks find ways of differentiating in a competitive market.

Typically consumers’ expectations are shaped by their experiences with tech giants like Google and Facebook, and increasingly challenger bank offerings. Of course, many banking apps share common functionalities—referred to as “must-haves”— so as a result, he says banks should focus their budgets on the remaining 20% of features that can differentiate them in the market. This strategic allocation enables banks to innovate effectively and economically, ensuring they stand out while maintaining a solid business case.

We were also delighted to speak to Bianca Zwart, Chief of Staff at bunq, the second largest neobank in Europe and a real trailblazer for customer centricity in the banking space. She discusses their mission to build a user-centric banking experience, something they’ve been focusing on since 2015.

She interestingly points out that the traditional banking sector’s slow adaptation to user needs has opened the door for more agile, user-focused competitors. There’s no question that neobanking’s growth has been colossal and they’re gradually taking a greater market share. The rising demand for better, more adaptable banking solutions is forcing all players in the industry to innovate rapidly, fostering increased competition and diversity.

We also spoke to Arunan Tharmarajah, Head of European Banking and Payments at Wise, one of the key players in making payments more accessible. They have both provided an innovative solution to a problem and are now helping more traditional institutions to innovate themselves. Tharmarajah gives us insights into how banks can address the challenges posed by the evolving financial landscape, particularly in cross-border payments.

He goes on to explain that some banks prefer to partner with specialized firms like Wise for cross-border transactions, allowing them to focus on domestic services. Wise offers a solution that integrates with traditional banking infrastructure, ensuring seamless, low-cost international transactions. He also discusses the broader implications of regulatory changes, which are increasingly accommodating non-bank entities in the payment systems. This shift is expected to enhance competition, lower fees, and improve customer experiences globally.

Tharmarajah emphasizes the need for banks to adopt a customer-centric approach, moving away from siloed, product-focused models to more holistic, technology-driven solutions that meet the diverse needs of modern consumers.

All our speakers are very much in agreement that focusing on user-centric innovation, strategic partnerships, and efficient use of technology, will be key to banks survival in this competitive landscape. Finally the user comes first in banking.

We hope you enjoy this episode and stay tuned for more coming soon.

Very soon, SaaS based banking systems will be universal and strategic partnerships are playing a key role in their delivery. In this episode of the FF Virtual Arena we host Stéphane Meslet and Holger Lehmann from Temenos as well as Surya Vedula from software specialists Nagarro to find out how they’re providing banks with the tools they need.

Of course, banks large and small require standardised levels of compliance, security and capability but they also need solutions that are tailored to the demands of their specific consumer base. Lehmann and Meslet will explain how their Infinity product is able to offer this and how partners such as Nagarro can use the building blocks it provides to deliver localised systems.

Vedula can also provide some insight into that partnership and together our speakers explore how they’re approaching the evolving needs of the banking sector, as an increased dataset plays a central role and agility and adaptation is essential to stay competitive.

In the FF Salon chair we’re joined by David Hooper, VP of Open Banking and Payments at consulting firm CGI at Sibos 2023. With a long and varied history in payments he’s well placed to talk about the how real time payments are changing things for banks. Now businesses have the potential to benefit from improved cash flow as payments are settled instantly in the back end.

We also hear how enabling banks and businesses to send and receive money more quickly than ever before is a key priority for CGI and the impact and satisfaction when the work they’ve done, quietly succeeds. Hear about this and his journey so far in this great interview.

In this video from the FF Salon at Money20/20 Europe this year, we spoke to Alina Harastasanu from JobsOhio. She heads up Business Development in Europe and was able to give us some insights into what JobsOhio are doing, to promote the state’s enviable qualities.

Alina is originally from Romania but has been in Ohio ever since she studied there and settled down. She’s ideally placed to talk about businesses in Europe making the leap to a state with a booming financial sector and a highly ranked ecosystem for multiple sectors. She’s also taken a very typical route and one that JobsOhio champion as advocates of the area.

Over at the RAI in Amsterdam for the Money20/20 Europe event, Anita Paju, Head of Customer Success at LHV Bank, joined us in our FF Salon to discuss her role within the company.

LHV Bank is a fully licensed UK bank that specialises in offering comprehensive banking services to global fintechs and personalised SME lending solutions to UK businesses. LHV Bank gained its UK banking license in May 2023 and plans to expand its banking services offering to e-commerce businesses and start accepting retail deposits later this year.

“I run customer success. We oversee customers, everything from onboarding till throughout the entire relationship. I’ve been with LHV for almost 10 years.”

“I’ve always been lucky enough to have managers that really value my opinion and what I want to do. I also think that we have really great customers, and I genuinely believe in what we do.”

“Within our company, whoever wants to get things done has the opportunity. It doesn’t matter what your position is or where you are in the organisation structure. Everyone has the opportunity. If you see something that isn’t right, you can just do it.”

Reimagining digital asset custody for financial institutions’ customers.

Secure custody could be the key to mainstream institutional adoption.

That’s the topic of our latest FF Virtual Arena. This time around, Money20/20 Head of Content for Europe and the author of ‘Why DeFi Matters’, Ian Horne speaks to Alex Gatiragas, Director of Solution Experience at Giesecke+Devrient (G+D) to find out how the big players can balance open minded innovation, with building trust around digital assets.

In this fascinating conversation, Horne asks what it will take to see mainstream adoption and Gatiragas provides an insight into the current landscape. G+D themselves are entering this sector with a new product – ConvegoⓇ TruSafe – specifically designed to “enable financial institutions to ensure retail investors navigate the digital asset landscape with confidence”. As for the future of this technology, we hear about the role digital wallets could play and some game changing use cases too.

Be sure to check out our previous Virtual Arena, titled ‘Digital Asset Use Cases Are Ready To Explode’, in which we interviewed Gatiragas along with Sabih Behzad from Deutsche Bank and Teana Baker-Taylor from Crypto UK to find out more about this topic. This episode is the perfect follow on to that and shows how G+D continue to innovate in this area.

Banking, payments, and commerce, represent the bedrock of a nation’s economy. Daily payments and transactions are now fundamental to the way we live now, and the introduction of digital payment platforms and mobile apps has instigated that. This is no more true than in the financial evolution of Payments in Africa.

In this episode of the Paytech Show, we are joined by Frank Molla, the Managing Director & Head of Sub Sahara Africa at BPC Banking Technologies. Here, we discuss the extent to which digital payments have changed the financial landscape of the West Africa region, and the continued growth it aspires to with the concept of smart cities and super apps.

“Where is the future? We’re talking about biometrics, we’re talking about artificial intelligence,” said Molla. “Think of connecting a village to a city, a city to a region, a region to other regions, and then the whole world. This is the beauty of smart cities.

“From what we see as BPC and from what smart cities are concerned, leveraging sensors, leveraging data and analytics, it’s all making it easier for every other person.”

BPC’s vision is one of interconnectedness. Through the use of technology in payments, underserved communities across the Sub Sahara, and the world, will not be shut out from accessing the financial services they need to live.

We also caught up withVodacom Groups Chief Officer International Markets, Diego Gutierrez. Speaking on Vodacoms flagship product, M-Pesa, Gutierrez tells us “M-Pesa is the biggest fintech in Africa, we have over 50 million customers on the continent”. On what M-Pesa has enabled in an ecosystem where payments access to banking was historically difficult, Gutierrez tells us “It’s allowed them to be part of the banking system, before M-pesa arrived to these markets only around 10-15% of the people were banked; today almost 60-70% are inside the financial system”

“Now they cannot only do payments, they can send peer-to-peer payments to each other, they can pay for services, they can get loans, they can save money and have accesss to buy products through a network of merchants who take payments in M-Pesa, so, M-Pesa has become at the centre of their lives”

In this episode of The Fintech Show we host Henry Cleary, Bank of Ireland, SmartStream’s Peter Dehaan and Allica Bank’s Beata Lubinska to show us how the banks are weighing up the risks, rewards and responsibilities of cash management in an ever-changing economy.

We find out from Allica Bank how they are utilising AI technology in their treasury department to gain an agile tactical view while keeping a steady strategic one at the same time.

Bank of Ireland give us a comprehensive look at how they are helping their treasurer customers navigate the unforeseen impacts of recent events like the COVID pandemic and Brexit.

Over in Money20/20, SmartStream detail how they have been helping banks, with the power of technology through these troubled times.

Welcome back to the FF Salon where we’re joined by Eric Fulwiler, co-founder and CEO of growth marketing agency, Rival, who speaks about his experience in the fintech and marketing sectors.

Fulwiler, who (dare we say it) is a fan of the FF Salon format, shares some of his journey so far, with stops at VaynerMedia and 11:FS along the way, before starting his own company. He also talks about some of the things he’s learnt, including the importance of finding good mentors and sources of experience.

These areas of fintech are still getting plenty of investment.

In a funding environment that has its ups and downs, there is definitely good news for startups seeking funding.

We had the pleasure of speaking to Andre De Haes, founder of Backed VC, to find out what being “a maverick fund” looks like in practice and what they look for in successful fintech founders and startups.

We talk about how the European funding environment has changed in recent years and much more.

Backed VC are “determined to do European venture capital differently”. Certainly their brand sticks out as slightly more rock and roll than some of their venture capital compatriots. According to De Haes, doing things differently involves bold bets in under-invested sectors, long-term thinking, and a distinctive culture of founder engagement.

He gives examples of their early bets on blockchain gaming, an area that seemed unconventional at the time but has since produced massive valuations, particularly with investments like Axie Infinity and Immutable X. Backed’s approach is also reflected in how they interact with founders, a relationship that often includes excursions and activities, all in service of forging long-term partnerships that go beyond the traditional fund-founder dynamic.

They focus on a few specific verticals, one of which is fintech and De Haes explains that Backed’s sector choices were born out of strategic thinking. They honed in on four key multi-trillion dollar industries ripe for disruption: computational biology, manufacturing software, Fintech infrastructure, and AI-driven drug development. They’re certainly exciting on the face of it and not only do they hold tremendous potential for tech innovation but also provide Europe with a strategic advantage over the U.S. In the interview above, De Haes points out how few VCs are tackling these challenging industries and emphasizes how Backed is leading the charge in areas like AI-driven drug discovery, a field relatively untouched by VCs.

The conversation also covers the evolving funding landscape, particularly the sharp valuation drops in later-stage funding rounds. There’s definitely been a number of changes in the ecosystem recently, with more funding even coming from Private Equity. Here, De Haes provides an insightful and thorough breakdown of the post-2022 revaluation environment, explaining that while seed stage funding has only seen minor corrections, later rounds have experienced significant declines in valuation. Interestingly, he notes that these downturns provide opportunities for investors willing to cherry-pick undervalued but strong companies.

In one of the more forward-looking segments, they discuss the future of blockchain and decentralized finance (DeFi). De Haes shares his belief that the mainstream adoption of blockchain will happen largely “invisibly” through back-end applications that consumers may not even realize are leveraging blockchain technology. He envisions broader institutional adoption and even the possibility of government-backed blockchain systems in the future.

There’s also some valuable insights into what Backed looks for in founders. We’ve asked a number of other people in the industry what they look for and it’s interesting to see how their advice compares. De Haes emphasizes the importance of “founder-product fit,” grit, execution speed, and commercial acumen. He shares fascinating examples of founders like Quinn, who is revolutionizing liver therapeutics with AI, and the seasoned team behind Travisory, who are disrupting border management systems. For De Haes, it’s not just about finding brilliant founders but those with a unique “right to win” in their specific domain.

Watch the video to find out more about the London Fintech Network, and get even more detail on the above topics. It’s a really interesting insight into the world of venture capital. Watch more conversations just like this, on our website.

In this edition of the FF News Virtual Arena, Doug Mackenzie sat down with EJ Achtner from HSBC, Wei You Pan at MongoDB, and Daniel Pears, who leads data insights at Capgemini, to discuss what impact generative AI could have on financial institutions. Achtner emphasizes the need for a measured approach due to significant benefits on one hand but also the risks of misusing this powerful technology. The speakers also noted generative AI's current status as a buzzword, but say that we could have widespread adoption within 3-5 years.

They address challenges such as risk management, governance, and the need for a gradual transition from innovation to production. MongoDB's Pan highlights their work with generative AI, developing enhanced features like vector indexing and search. The conversation underscores the challenges of ensuring data quality and objectivity and also the importance of human involvement in validating and interpreting generative AI results.

From the FF Salon at Sibos 2023 we speak to Fiserv Director of Global Sales, Felicidad Zambalamberri, who with 35 years in payments is well placed to tell us what Fiserv are doing now and some recent innovations in the field.

Serving merchants and businesses globally, from “the Walmarts of the world to a kebab shop in Edinburgh”, Fiserv are working on meeting the demand for instant payments and making things happen faster in the back end. We hear about her start in the world of payments and why she’s still passionate about it today.

We’re joined at the FF Salon by Steve Naudé, MD of the Wise Platform at Wise, who gives us the news that they’ve recently partnered with Swift to bring their payments powering platform to more financial institutions around the world. Speaking at Sibos 2023 he gives us an overview of how Wise are continuing on their mission to make moving money ever easier and faster and are becoming an increasingly established player in the infrastructure layer.

Naude also talks about how innovation in the space is often defined more by incremental improvements than seismic changes. Many of the challenges are the same but the solutions are evolving and there are always more ways payments technology can be applied to fresh niches.

In this episode of The Paytech Show we speak to Stacey Wilkinson, API Growth Manager at NatWest, and Nadish Lad, who is MD and Head of Strategic Business at Volante to find out how the ease of access to APIs is driving innovation and making fraud prevention more of a reality.

With coverage from Sibos 2023 in Toronto, this episode touches on how the proliferation of Digital Identification could streamline payments processes and how NatWest are looking to provide the technology needed for seamless onboarding. Lad talks about the growing desire for a single API that can tackle multiple bank pain points and what they’re doing at Volante to offer this.

In this episode of the Fintech Show, we speak to Mike Kresse from FIS, Marc McCarthy from Kani Payments, Sabrina Tharani from Mastercard and West Richards from ATPC, to uncover the increasingly pivotal role partnerships play in navigating the evolving American payments industry. Kani Payments CCO McCarthy highlights their recent entry into the US, at a time where streamlining reconciliation couldn’t be more important and Kresse, an SVP at FIS, provides some insight into the impact of FedNow.

We also hear from Mastercard SVP Tharani who heads up their Start Path programme, on how they’re committing to fostering partnerships with innovative companies like Kani to address key industry challenges. In Atlanta, West Richards, Executive Director of the American Transaction Processers Coalition (ATPC) sheds light on their mission to assist European companies navigating the complexities of the US market.

Welcome to the Virtual Arena, where we explore the topic of embedded finance and its pivotal impact for organisations. The growth of embedded finance has been exponential, with an increasing number of industries recognizing its potential and adopting embedded finance solutions. This trend has opened up new avenues for businesses to monetize their platforms and enhance customer experiences by seamlessly integrating financial services into their offerings.

Listen into this captivating discussion as FF News’ Doug Mackenzie unpacks this exciting topic along with Nicolas Benady, CEO of Swan, and Thomas Vles, Chief Revenue Officer at Ageras Group.

Joining us in this episode of The Paytech Show, we have Sonia Gómez from ACI Worldwide and Laura Gómez at Banco Davivienda. We’re diving deep into the Colombian cross border payments ecosystem to shed light on the latest trends and insights. Discover how ACI Worldwide is actively aiding businesses and institutions across Colombia in harnessing the potential of the burgeoning cross border payments.

Ana Maria Gutiérrez from Gobenanas spoke with Laura Gómez whose insights were equally enlightening as she delved into recent economic growth in Colombia and the concurrent advancements in the payments sphere.

Over in our FF Salon at the RAI in Amsterdam for Money 20/20 Europe, we caught up with Ben Ford, Head of Growth at Frollo, to learn about his field of work.

Frollo is a fintech company specialising in personal finance management solutions and budgeting tools, providing users with the means to take charge of their finances and make informed financial decisions.

“I’ve worked around data and around the industry for 15 or 20 years, even before fintech was a thing.”

“You’ve got to have a real belief in what fintech can do and the power it has to help people change lives, transform lives, improve society and things like that.”

“The feedback that we get on our app, where people do say that it’s made a difference to their life, it works for them. Those are the things that mean a lot.”

“The best thing is getting out and about and getting the word out there, having conversations like this, conversations with other businesses, and just pumping the Frollo brand and building awareness.

Step into the FF Salon at Money20/20 where we host Sarah Koch from Aevi. Aevi are the in person payments experts, becoming the best in class partner at the point of sale.

Sarah details to our host Emily Redding how they’ve gone through a hugely successful rebrand and how the industry has changed along with Aevi since she has joined the organisation.

Could this be the future of small business financing?

After leading roles at Intuit and Square, Luke Voiles is shaking up the business financing space with exciting embedded capital platform Pipe.

In this insightful interview, CEO Voiles speaks to Ali Paterson about Pipe’s embedded financial services product, aimed at bypassing traditional, cumbersome funding methods.

We get his thoughts on the increase in sector specific software solutions and why he’s passionate about supporting small businesses. There’s some exciting plans in the ‘Pipe-line’ too. Hear about all this and more in this FF Virtual Arena profile.

To explain what Pipe really offers we first need some context and Voiles helps with this. He goes through the evolution of funding for small and medium-sized businesses (SMBs), contrasting traditional methods with Pipe’s innovative approach. Traditionally, securing funding required businesses to present two years of audited financial statements and tax returns to banks, a process that was lengthy and required a proven history of consistent performance. This method, exemplified by SBA loans, made it difficult for newer or smaller businesses to access necessary capital, something he’s very passionate about, given his heritage.

His dad was a small business owner himself, and this along with the experiences that many small businesses faced during the pandemic has been a big part of why he’s taken this role.

We’ve seen numerous evolutions in funding since those days and more recently, companies like Square Capital, Stripe Capital, and PayPal Working Capital, have focused on single cash flow streams. By simplifying the problem to a narrow set of financial data, these companies could provide more streamlined and accessible funding solutions. According to Voiles, Pipe builds on this evolution by allowing any SaaS business to offer similar financial services to their customers, thereby democratizing access to capital.

Voiles also highlights a broader shift in how SMBs operate, noting that business owners no longer visit banks regularly. Instead many rely on specialized vertical software that addresses specific industry needs comprehensively. Examples include Slice for pizza shops and Boulevard for nail and hair salons, which offer end-to-end solutions tailored to their respective industries.

Pipe has capitalised on this shift by embedding financial services within these vertical software solutions. This approach allows businesses to access necessary financial products without navigating complex regulatory and financial risks. It’s perfect timing, and a super nifty product.

It’s designed to keep the balance sheet light, offloading risk by selling whole loans to capital markets. Voiles says this approach enables unlimited scaling potential. Pipe’s multi-draw line of credit is particularly attractive to SMBs, offering a security blanket that meets their needs without the onerous terms often found in traditional financing products.

Of course, we want to know what’s next for this exciting company. Looking forward, Pipe will expand. In addition to its capital products, they’re developing a card product for micro-merchants, which will be a 30-day charge card powered by Pipe’s risk engine. This product aims to fill a gap in the market, as existing solutions like those from Capital One and Amex do not cater to micro-merchants due to the high perceived risk. Pipe’s approach leverages cash flow data from POS terminals, enabling it to extend credit without personal guarantees or FICO-based underwriting.

Not only that but they also plan to introduce spend management and payroll services, fully embeddable within partner platforms. These additions will streamline expense management for SMBs, allowing them to focus more on their core operations. Of course AI gets a mention, as it often does these days, with Voiles hinting at a “moonshot” project involving an AI sidekick, which would automate business tasks and decision-making based on verticalized data sets.

It’s a really interesting profile piece of a passionate fintech leader who is behind a product that could revolutionize the capital space and have a genuinely positive impact on small businesses.

Be sure to watch more of our Virtual Arenas on our website.

In this FF News Virtual Arena we speak to Oliver Prill, CEO of business banking specialists Tide and Richard Logan, Product Director at Edenred Payment Solutions to find out how their products can help SMEs during challenging times. Logan provides insight into Edenred's role as a diversified payments processor, while Prill explains Tide's how they meet the growing needs of their customers.

We hear about the need for compliance and how expense management and invoice processing have evolved with the rise of fintech players like Tide, who provide a suite of financial services for businesses. Both speakers reflect on their partnership and we get their thoughts on future trends in the industry, including advancements in AI, and the potential for consolidation among fintech players.

At the Money 20/20 Europe event held at the RAI in Amsterdam, Barry O’Sullivan, Head of Banking and Payments Infrastructure at OpenPayd, joined us at our FF Salon to chat about his involvement in the company and in the financial industry.

OpenPayd is a leading fintech provider specialising in comprehensive banking and payment solutions for businesses and individuals. Their innovative platform offers a wide range of services, including multi-currency accounts, efficient cross-border payments, and robust financial tools, empowering organisations to optimise their global operations and drive international growth.

“For us, it’s all about growth. In the last year, we’ve grown our volume from 10 billion, annualised, to 36 billion, so we’ve really grown rapidly. Our transactions per month have gone from 200,000 to a million.”

“It’s the best company I’ve ever worked for. All the people here are fantastic, we’ve got very good tech and we do what we do really well.”

It’s time to make the ISO 20022 shift.

The new global standard promises to unlock a new era for banking. It could be time to get on board.

In a brand new FF News Virtual Arena, Ali Paterson spoke to Greg Murray from Santander Bank in the U.S. to find out more. Promising greater data richness and improved transaction efficiency, Murray explains how banks like Santander are heavily investing in the transition to ISO 20022 to meet regulatory deadlines and adapt their systems.

It’s a topic on everyone’s lips and something we’ve covered in other videos on our website, including this video on getting ISO 20022 ready in Cambodia, and this article looking at the benefits of making that shift.

There is some concern for how smaller businesses will cope with the shift and to help with this Murray says the transition needs to be a collaborative one. Read on to find out more.

The financial industry is undergoing a significant transformation with the adoption of ISO 20022, a new global standard for exchanging electronic messages between financial institutions. It will replace older messaging formats like SWIFT MT, offering a more flexible, efficient, and data-rich way to process transactions and communicate across the financial landscape. But what exactly is ISO 20022, and why does it matter?

In our interview, Greg Murray, Managing Director of Treasury Services Product Management at Santander Bank in the U.S., shared his insights into the new standard and its impact on the global financial system.

ISO 20022 is an international standard that provides a common language for financial messaging. Unlike its predecessors, it is not just a format but a comprehensive methodology that includes a data dictionary and a set of guidelines for message creation and use. It is designed to handle a wide range of financial transactions, including payments, securities, foreign exchange, and trade finance.

The standard was developed to address the limitations of older messaging formats like SWIFT MT, which have been in use since the 1970s, although as Murray points out SWIFT (the Society for Worldwide Interbank Financial Telecommunication) are very much championing this change. He points out that existing messaging systems are limited by their rigid structures and lack of support for the rich, structured data that modern financial transactions need.

ISO 20022 is not just about replacing old standards; it’s about enabling a new way of handling financial data. The move towards ISO 20022 is driven by several key factors:

Rich Data Handling: ISO 20022 messages can carry much more detailed information than older formats. This means more data can be transmitted in a single message, reducing the need for multiple messages to complete a single transaction. For example, it allows for up to 140 characters of remittance information, compared to the 35 characters allowed in SWIFT MT messages.

Standardization Across Markets: Currently, different regions and banks often use different messaging formats, creating complexity and inefficiency in cross-border payments. ISO 20022 offers a unified standard that can be adopted globally, simplifying processes and reducing the risk of errors.

Enhanced Compliance and Transparency: The new standard supports better data granularity and quality, which is crucial for meeting regulatory requirements. As Murray points out, regulators around the world are increasingly demanding more detailed and accurate data, and ISO 20022 provides a way to meet these demands.

Future-Proofing Financial Systems: With the increasing digitization of financial services, there is a growing need for systems that can handle large volumes of complex data. ISO 20022 is designed to be flexible and extensible, making it easier to adapt to future technological advancements.

The adoption of ISO 20022 is already underway globally, with many major financial institutions and market infrastructures moving towards the new standard. The transition is being spearheaded by SWIFT, which has set a roadmap for migrating its members to ISO 20022 by the end of 2025. This is the big deadline that most institutions are looking towards.

Murray noted that while the initial transition may pose challenges, the benefits far outweigh the difficulties. He emphasized that ISO 20022 is not just a compliance requirement but an opportunity for financial institutions to enhance their operations and offer better services to their customers.

For example, the European Central Bank (ECB) and the Eurosystem have already adopted ISO 20022 for their Target2 payments system, and other central banks around the world are following suit. In the U.S., the Federal Reserve has also announced plans to adopt the standard for its Fedwire Funds Service.

Transitioning to ISO 20022 is not without its challenges. One of the major hurdles is the need for significant investment in upgrading legacy systems to support the new standard. Financial institutions must also train their staff to handle the new messaging format and develop new processes and procedures to accommodate it.

Murray highlights that a common concern among financial institutions is the complexity involved in migrating from legacy systems to ISO 20022-compliant platforms. This transition requires not only a technical overhaul but also a cultural shift towards embracing data-centric operations.

Additionally, there is the challenge of ensuring interoperability between different systems and markets. While ISO 20022 aims to standardize messaging across the financial world, there will still be a period where both old and new systems need to coexist, which could create temporary friction and inefficiencies.

Murray, speaking from a major institution’s point of view, is optimistic about the future of ISO 20022 and believes that its adoption will bring long-term benefits to the financial industry. He views it as a critical step towards a more connected and efficient global financial system. “This is not just another compliance exercise; it’s a chance to rethink how we handle data,” he said. He also pointed out that while there will be short-term challenges, the industry must focus on the bigger picture – the potential for innovation, improved customer experience, and streamlined operations.

ISO 20022 represents a significant evolution in the way financial data is exchanged and managed. It is not just a technical upgrade but a strategic opportunity for financial institutions to modernize their operations, enhance data quality, and better serve their customers. As our interviewee emphasized, the move to ISO 20022 is an essential step in future-proofing the financial system for the digital age.

While the road to full adoption may be complex, the potential benefits – from increased efficiency and reduced costs to better compliance and more innovation – make ISO 20022 a game-changer for the global financial industry.

In this FF News Virtual Arena, we speak to Sunil Madhu, co-founder and CEO of Instnt, to get a special insight into the current fraud landscape in financial services and find out how their unique and ground-breaking solution can help banks in the US.

Madhu, discusses the growing prevalence of First Party Fraud and what banks are currently doing to combat against it. Unfortunately this comes with the consequence of lengthy KYC processes that can reject innocent customers and cost time and money. Insuring against fraud loss whilst also providing innovative universal ID tech could be the solution. Watch this interesting interview to find out more.

In this episode of The Paytech Show, we host Brian Hanrahan, CEO of Nuapay, Alan Marquard, Executive VP of Transfer Solutions at Mastercard and Vincent Belloc, Vice President and Managing Director at PayPal. We focus on some of the pressing challenges facing the payments industry in an open, thought-provoking discussion with key industry voices. To get the lay of the land we spoke to leaders from two of the biggest names in payments. Belloc, gives us some further insights into the current payment needs of SME’s and Marquard, delves into the current cross border payments landscape.

To understand how technology is helping ease this pressure, Brian Hanrahan, tells us how they’re meeting customer demands and powering payments. Our three highly experienced guests provide valuable insight into obstacles within the payments industry, as well as the growing demands from customers and how payments companies can accommodate these demands.

In this episode of the Paytech Show, we’re heading to Norway! We speak to two companies working to shift banking from its old ways to the freedom and efficiency provided by cloud based solutions and composable banking.

Lisa Farmer from Bottomline talks about what banks need to do to stay competitive and introduces us to the work they’re doing with Knowit to access the Nordic market.

In Bergen, Norway, Tim Goodfellow spoke to Espen Vindegg and Rolf Kleppestø from Knowit about the challenges they face and how they’re working with partners like Bottomline to transform payments in the region. They have some great insight to offer on this exciting area of development. We hope you enjoy.

Find out how fintech is changing the retail investment space.

In this episode of the Fintech Show we’re joined by Boaz Yaari from Sharegain and Yorick Naeff from BUX for a fireside chat on the evolution of retail investing and the new revenue streams that banks can unlock.

Together, they explore the changing landscape of retail investment, predict future trends like non-purpose lending, and we find out how their companies got started. 

There’s no denying the boom that retail investing has experienced in recent years, particularly in the wake of the pandemic. Now, many consumers are looking for ways to grow their wealth and take control of their savings and investment journey, rather than relying on banks to do that for them. US stock trading volumes saw an enormous spike in 2020 and 2021 due to the immense rise in retail investing. Even neobanks are adding investment products to their offering, with great interest. Monzo got 200,000 sign ups to their investment account waiting list in just two days.

It’s in this context that both Yaari and Naeff started their companies. Both CEO/co-founders here reveal the stories that led them to where they are now. Boaz traces his path from FX derivatives trading to securities lending, recognising an untapped opportunity akin to Airbnb but for securities lending. Despite skepticism from others, Yaari’s pattern recognition and determination spurred him on to pursue Sharegain.

On the other hand, Naeff’s background in financial services and tech converged when he observed the barriers hindering retail investors from entering the market. Collaborating with a colleague, they conceptualized BUX to democratize retail investing, leveraging the rise of mobile applications. Their shared vision aligned perfectly with the evolving market, particularly the increasing demand for accessible and intuitive investment platforms. 

The conversation, which took place in our studio, delves into the dynamic shifts within the retail investing landscape. Our speakers emphasize the growing influence of private investors, particularly younger generations with a savings and investment-driven mindset. They predict a trend toward non-purpose lending, foreseeing a revolution in the lending space that could empower investors to leverage their portfolios for various financial needs. 

Highlighting the symbiotic relationship between Fintech and traditional financial firms, Yaari and Naeff stress the advantages of agility and expertise exchange. Yaari underscores Sharegain’s unique position in securities lending, while Naeff emphasizes BUX’s collaboration with industry giants like BlackRock to tailor investment packages for retail investors.

Stick around until the end also, because they have great advice to offer aspiring founders also. That includes the importance of assembling the right team, focusing on long-term growth, and staying resilient amidst challenges. 

Yaari reflects on Sharegain’s pivot towards sustainability and profitability, a testament to the team’s adaptability and perseverance. Similarly, Naeff celebrates the creation of a new market for independent agency lending, underscoring the transformative power of innovation in overcoming market barriers. It’s a really exciting area that could present new revenue streams for banks. 

Tune in to find out more. 

In the FF Salon at Money20/20 Europe 2023, we were joined by Martin Pitcock, Chief Marketing Officer of E-commerce at the Nexi Group. Nexi is a European paytech organisation that aims to provide the simplest fastest & safest payment solutions to individuals and organisations through the utilisation of scale, capabilities and proximity.

“We’ve got probably two major areas that we look at in terms of trend data that we see. We’ve got relatively good market shares in a lot of countries. We get a good overview of what’s happening in payments, but then we also run a survey of all consumers across 8 different countries that we serve.”

“I think there’s a few different trends that we’re seeing. In the last couple of years post-covid, we saw a massive boom in e-commerce sales. Everyone had to shop online. Now, we’ve seen a bit of a return back to in-store payments. So people are actually moving between e-commerce and in-store again.”

The Paytech Show is back and this time we’re looking at a partnership that perfectly captures what is possible with BaaS.

In this episode we speak to Noah Sharp, CEO of Vodeno, and Neil Chandler, CEO of Aion Bank, to find out how Vodeno’s unique platform works alongside Aion Bank’s ECB license to enable non-financial companies to offer banking services without regulatory burdens.

Below you’ll read more about their thoughts on where BaaS is heading and the potential for embedded banking to meet modern digital needs.

In this episode we delve into the intricacies of Banking as a Service (BaaS) and the specific approach that our interviewees have taken. Sharp explains Vodeno’s unique positioning as a robust BaaS and embedded finance platform built entirely on the cloud and a private blockchain, where the ledger is managed by smart contracts.

Not only that but their platform is complemented by Aion, a regulated bank based in Belgium, a tier-one regulatory jurisdiction, facilitating the distribution of regulated services and ensuring compliance. This combination allows Vodeno to serve both non-financial companies looking to offer financial services without becoming regulated entities and regulated firms needing specific solutions without the full regulatory burden.

To explain more, Chandler emphasizes how important regulatory compliance is and points out that many BaaS providers face challenges because they underestimate the importance of regulation. Our guests avoid this pitfall by being intrinsically connected, with Aion Bank’s full banking license ensuring that regulatory obligations are taken seriously.

The show also addresses current issues in the payments industry, such as challenges around cross-border payments in continental Europe. Unlike the UK, where open banking and instant payment schemes like Faster Payments facilitate efficient domestic transactions, Europe struggles with varied API robustness and cross-border payment complexities.

Companies must often adopt localized approaches to handle payments effectively, which complicates centralization efforts. Here, BaaS providers play a crucial role, offering more comprehensive financial services than simple payment service providers (PSPs), especially when deeper financial functionalities such as credit lending or deposit protection are required.

Embedded banking, or embedded financing, is highlighted as a customer-centric approach, operating on a B2B2C model. This means the bank’s products are designed to meet the end customer’s needs, often delivered through retailers or marketplaces.

For example, customers don’t want a Buy Now, Pay Later (BNPL) service for its own sake; they want the product it helps them acquire. Aion Bank and Vodeno understand this dynamic, focusing on providing digital experiences that align with customer desires. It’s an informative episode that also includes thoughts from Chandler on what the future holds for BaaS, so be sure to tune in above.

At the RAI in Amsterdam for the Money20/20 Europe event, Don Riddick, Chief Legal Officer and Company Secretary at Featurespace, joined us in our FF Salon to talk about his role and responsibilities.

Featurespace is an advanced analytics company specialising in fraud and risk management solutions. Their innovative technology leverages machine learning and behavioural analytics to detect and prevent fraudulent activities in real-time, empowering businesses to safeguard their operations and protect against financial risks.

“We have customers in 42 countries, so there’s always someone somewhere. The best part is, if you make everyone around you have fun and be vibrant, then they’re more than willing to help cover until you’re awake and can do it yourself.”

“I did 14 years in IBM in a massive company … About 3 years ago, before I started working for Featurespace, I got into a massive explosion … When I returned from that, the people who visited me and paid attention to me were not the people I expected. I also said to myself: Life is short, you never know what’s going to happen … What is going to be the most fun and interesting things to do, and who are the people? And I said I’m going to work at Featurespace because I want to have fun and I want to do something interesting and life is short.”

From the FF Salon at Sibos 2023 we caught up with Barb MacLean, Head of Technology, at Coastal Community Bank to find out what makes her tick and why she’s passionate about the field she’s in. We hear about her journey from computing to business and the way she’s able to go beyond what some of the bigger banks can do when working with smaller community banks.

MacLean talks about the importance of the fintech and finance community, which she is an active and visible part of. Somewhere like Sibos is a great opportunity to make connections and build relationships. Of course, she says, it’s also important as an introvert to take time for yourself.

At the FF Salon we spoke to Hassan Khan, who is the co-founder and CEO of TodaQ, to find out more about what they’re doing in the world of API-to-API micro-payments. Speaking at Sibos 2023, he filled us in on where they’re heading and the testing they’ve done so far of their technology, which is built to help businesses benefit from super quick payment times.

Khan also raises the benefits of walking meetings at an event like Sibos and how as a Toronto local he’s able to take guests to some cooler spots off the beaten path. Of course, Sibos has presented some great opportunities to network but he talks about how there’s still a requirement to communicate the benefits of their product in it’s simplest terms.

In this episode of The Fintech Show we host FIS Head of International Consultants, Guy Moons, alongside Intix Director of Strategic Alliances and Key Accounts, Antoine Cuypers, to find out about their partnership and how payments data management and analysis is changing today. In Belgium, we caught with Cuypers who tells us how they help banks and large financial institutions around the world leverage huge amounts of transactional data and informs us about the technologies that could help them to solve further challenges with unstructured data.

From Sibos 2023 in Toronto, Moons talks about the changes that have occurred as a result of the rollout of ISO 20022 and why they chose to partner with a specialist third party to supercharge this area of their operations.

At Money20/20 Europe 2023, we were joined in the FF Salon by Sarah Carver, Chief Commercial Officer at Delta Capita. Delta Capita is the financial services division of Prytek, a leading global Capital Markets consulting, managed services and technology provider with a unique combination of experience in financial services and capability in technology innovation.

 “I guess part of [leadership] is just by being there. Being a female who works in sales I think helps in itself. But also being really honest, I’ll say I’m gonna go and pick my children up from school. I won’t block a meeting out in my diary and pretend I’m doing a client meeting.”

“I’ll go and be really authentic in the fact that I’m doing that, cause I think that’s really important.  Cause otherwise, I’ve had people say to me ‘I don’t know how you do it all’ and I’m like ‘No, it’s really hard and this is how I do it.’ I think actually explaining that so it doesn’t look like some kind of magic show is really important”

In this episode of The Fintech Show we host CEO of Jumpstart, Ray Leach and JobsOhio Financial Services MD, Ron Rock, to find out why Ohio is the place to do business. We also speak to Rajesh Gupta, CFO at OakNorth Bank and Mohsin Masud, founder of Ohio based startup Akru, to find out why their companies have set up in the US.

The American Midwest is increasingly being seen as a hub for fintech and insurtech companies, so we travelled over to find out what’s happening. JobsOhio act as a catalyst for growth in the state and Ron Rock is well placed to tell us why companies are setting up or moving here. Our friend and Ohio native Jim Marous also speaks to Ray Leach to find out how companies can get investment in the current climate.

Rajesh Gupta lets us know what it takes to set up a new bank in the US and Mohsin Masud tells us why he built his startup in Ohio. We hope you enjoy learning more about this fascinating area.

Joining us in this episode of The Insurtech Show is Sean Ringstead from Chubb, Phil McGriskin from Vitesse PSP and James Russell from the esure Group. Often considered the most important part of a successful customer interaction in insurance, the claims process is often the final thought given by most insurance companies.

Find out on this episode of The Insurtech Show how Vitesse PSP are enabling insurers to pay out to the customers quickly and efficiently, turning what was once a customer pain point, to a selling point. Chubb explain how faster payouts assist customers with disrupted travel plans, while esure Group explain that their customers won’t be left cashless on the side road due to breakdowns.

In this interview from the FF Salon at Sibos 2023 we speak to Liam Jeffs, Director of Sales and Marketing at Icon Solutions. He points out how Sibos is a great place to network with potential customers and existing partners and we find out there’s even a 5K run that over 300 people took part in!

Jeffs also has some interesting insights into the decreasing margins on payments for banks and how increasing costs are forcing banks to look at other options when it comes to processing payments. He also shares how crucial it is that someone in his position does their research and seeks to genuinely understand their customers challenges.

Welcome back to The Fintech Show, and this week we look at what it takes to be the Best in BaaS with our friends at Tuum.

We’re joined by some fantastic guests who are right at the heart of the BaaS conversation. Joining us today, we have:

Myles Bertrand, CEO at Tuum Andres Kitter, Deputy CEO at LHV Ben Robinson, CEO and Co-Founder at Aperture.co

From the FF Salon at Sibos 2023 we spoke to Antoine Cuypers from Intix about the very specific service they’re offering around transactional data. Cuypers, who heads up strategic alliances and key accounts for the company, told us about the journey to where he is now after many years of experience with Swift and the benefits of coming to Sibos as a veteran of the conference.

He makes some interesting points about digital transformation in the banking space and expands on how Intix have created what he calls a ‘Google search for banks’. Watch the interview from the barbers chair to find out more.

In this episode of The Paytech Show we’re in Cambodia hosting ABA Bank‘s Head of R&D Bekzod Ruzmetov and Chief International Business Officer Polinda Hean as well as Bottomline Business Development Director Victor Kong, to find out how the technology provider is partnering with financial institutions in the region. Speaking to Douglas Mackenzie, Ruzmetov tells us about Cambodia’s rapidly changing banking landscape, including the launch of many new banks and a growing economy.

Along with his colleague Hean, they both speak about how Bottomline help them to access the Swift network and stay compliant with ISO 20022. Kong, who helps lead Bottomline’s efforts in Cambodia helps to paint a broader picture of the country’s financial ecosystem, pointing out that around 50% of commercial banks there, partner with them to deliver payments services.

In Amsterdam for Money20/20 Europe, FF News sat down for a chat at our FF Salon with Karine Martinez, Head of Sales at Edenred Payment Solutions, to explore various aspects of embedded finance and its impact on the industry.

Edenred Payment Solutions offers cutting-edge payment solutions that optimise financial transactions for corporate clients and individuals, delivering enhanced convenience and operational efficiency.

“Embedded finance is at the beginning of its journey. A lot of innovation and enhancement has already taken place. It’s been a couple of years now that people are mentioning embedded finance … Embedded finance today is having the ability to add any financial product or services into a non-financial app or brand.”

“One of the biggest challenges in the customer journey is the friction in payments. Embedded financial services will actually remove that friction and will simplify the usage of financial services. It’s also enhancing the quality of data.”

“Embedded finance helps everybody have access to financial services. It also allows companies to generate new revenue streams, to access certain markets and remove some of the regulatory complexity.”

Back at the FF Salon at Sibos 2023 we’re treated to the beaming smile of Mike Jackson, who heads up demand generation at ACI Worldwide. In a role that encompasses various aspects of marketing and sales he is in exactly the right place personally and talks about the satisfaction of sorting out people’s payments problems.

It’s actually not the first time he’s had his hair cut on camera and he talks about how he’s bringing his marketing experience from previous roles into the payments space. We also hear how earlier experiences have influenced where he is now and the importance of finding time to switch off.

In this episode of The PayTech Show, FF News delved into the dynamic banking and payment ecosystem of Cambodia with J Trust Royal Bank in Phnom Penh, where we interviewed Saly Lor, the Chief Operating Officer (COO).

Saly Lor began his journey with J Trust Royal Bank in 2005, steadily progressing through various roles until he took on the position of COO in 2019. His extensive experience encompasses overseeing institutional operations, personal banking, property and administrative functions, as well as central operations.

Under his leadership, the bank handles crucial aspects such as reconciliation, analytics and information management, project management, and transformation initiatives.

Lor provided an insightful overview of the rapid evolution of Cambodia’s banking ecosystem over recent years. Recognized as an emerging financial market, Cambodia has witnessed significant growth in deposits, assets, lending, and both domestic and international payments. New players have entered the market, and there has been a marked shift in consumer behavior, with an increasing number of people integrating banking into their daily lives and business transactions.

One of the most notable trends Lor highlighted is the transition from traditional to digital banking. Consumers in Cambodia are now embracing mobile banking, foreign payments, and QR code scanning, moving away from conventional banking methods. This shift is driven by several factors, including political and socio-economic stability, technological advancements, and the impact of the COVID-19 pandemic, which accelerated the adoption of digital banking solutions.

Discussing the future of banking in Cambodia, Lor emphasized the country’s favorable conditions for growth. With a young and dynamic workforce, a median age of 26, and a strategic geographic location at the heart of Southeast Asia, Cambodia offers significant opportunities for banks and fintech companies. The nation is projected to continue its robust economic growth, with a 5.6% increase anticipated in 2023 despite global geopolitical tensions.

Lor pointed out that while banking activity has increased, there remains a substantial unbanked population, presenting a significant opportunity for financial institutions to expand their reach. Additionally, there is a segment of wealthy senior clients who prefer traditional banking methods and represent another potential market for banks to educate and transition to modern banking services.

The competition in Cambodia’s banking sector is intense, with a mix of large and small banks vying for market share. This competitive landscape drives innovation and investment in sophisticated technologies, although the pace of development can vary depending on the scale of the bank’s operations.

Lor also discussed the importance of cross-border payments, noting the increasing volume of imports and exports and the growing demand for efficient, real-time, and low-cost international payment solutions. The National Bank of Cambodia has been proactive in facilitating both domestic and cross-border payments, launching initiatives like the cross-border QR code system in collaboration with regional partners.

Emphasizing the significance of adopting international standards, Lor highlighted J Trust Royal Bank’s early move towards ISO 20022 compliance. This global standard for electronic data interchange between financial institutions enhances processing, reporting, and reconciliation capabilities. By adopting ISO 20022 ahead of the 2025 deadline, J Trust Royal Bank aims to ensure a smooth transition, minimize risks, and provide seamless services to its customers.

Looking ahead to 2025, Lor envisions a continued positive trajectory for Cambodia’s banking and cross-border payment sectors. He anticipates that customer expectations will drive further advancements, with real-time, low-cost, and predictable transactions becoming the norm. Banks will need to be agile and invest in infrastructure to meet these demands, demonstrating a commitment to thriving alongside their customers.

In conclusion, Saly Lor’s insights offer a comprehensive view of the transformative changes occurring in Cambodia’s banking sector. J Trust Royal Bank is poised to leverage these opportunities, driven by a customer-centric approach and a commitment to technological advancement, positioning itself as a leader in the evolving financial landscape of Cambodia.

In this episode of The Fintech Show, we speak to Simon Holland, CPO at Wealthify, Peter-Jan Van de Venn, VP Global Digital Banking at Mobiquity, and Giovanni Daprà, the co-founder and CEO at Moneyfarm, to find out how wealth management firms, and increasingly popular wealthtech apps are differentiating themselves in a changing industry. From Van de Venn we learn about Mobiquity’s Wealth Management Features Radar reports that highlight must-have and differentiating features in the industry.

Holland talks about their desire to build a service that breaks down barriers to investing, and provides accessible features like ethical investment options. And Daprà echoes the need for providing peace of mind to the user in addition to actual results, highlighting features that provide visibility into the investment journey. It’s a fascinating dialogue that touches on onboarding, customer experience, data analytics and more.

In this episode of The Fintech Show, we speak to Sophie Heller, COO of BNP Paribas and Mobiquity‘s VP Global Digital Banking, Peter-Jan Van der Venn, to find out what the banking industry is doing to meet changing customer demands. Van der Venn fills us in on Mobiquity’s Digital Banking Features Radar, a report aimed at assessing the landscape and helping banks stand apart in a crowded market where customer experience is key.

We also get some insight from Heller on the pace of change in global banking, and the fintech correction that’s shown what works and what doesn’t. The most successful companies are now in competition with incumbents who are starting to catch up, launching agile propositions to reach new demographics.

The potential of digital assets for financial institutions is huge.

No matter where you stand on crypto, CBDCs and DLT, there's no denying the space is moving fast.

For our latest Virtual Arena, we gathered a panel of speakers including Sabih Behzad from Deutsche Bank, Alex Gatiragas from G+D, and Teana Baker-Taylor from Crypto UK to find out how financial institutions are getting on board and what this might mean for consumers.

In this revealing discussion our expert speakers identify key areas of opportunity, the need for regulatory clarity and the importance of helping consumers with custody of their assets.

️ "We will be able to offer new products we can't even envisage today."

️ "The real innovation is happening in the open source space."

️ "We're starting to see more regulation for stable coins."

Tune in for these great insights and more.

We’re back with another episode of The Insurtech Show, featuring Hastings Direct Chief Information Officer Sasha Jory, Piers Williams who heads up Global Insurance Sales at AutoRek and Jonathan Fletcher, the CTO of CFC, to hear how insurance automation is pulling the industry into the future. In the FF News Studio, Piers Williams speaks about the desire to save valuable time and streamline the customer experience by automating data collection.

CFC and Hastings are both making serious strides in that area and Jory talks about the changes they’ve made to their infrastructure to get ahead of the competition and respond to changes in the market. Fletcher points out where they can add value and even create a better experience for their employees too. In this episode we also hear about how insurers can respond to real time data and the accelerated use of APIs and SaaS to change the trajectory of your company.

Joining us on this episode of The Paytech Show: Ana Maria Prieto from the Banco de la República – Colombia, Sonia Gomez from ACI Worldwide and Guillermo Gonzalez Vargas, BBVA Colombia. With the widespread adoption of mobile money, sending money cross border has become increasingly important for Colombian e-commerce businesses, and ACI Worldwide have been enabling organisations to take advantage of this trend!

Ana Maria Guiterrez from Gobenanas caught up with BBVA Colombia who was able to give us some details and figures relating to the Colombian payments space and the nation’s role in the region. Banco de la Republica Colombia expanded on some of the challenges that are still faced by businesses and consumers in LATAM.

At the Sibos 2023 FF Salon we speak to Kris Dickinson, Director of financial services at NayaOne, a platform that helps companies and financial institutions digitally transform by providing a sandbox environment in which to test third party services and solutions. We hear about his interest in supporting both banks and the fintech community get to market quicker.

It’s interesting to hear about their recent growth and also some of his experiences on capital markets trading floors and how that’s impacted his desire to solve problems for businesses. Hear about networking at Sibos and much more in this interesting chat from the barbers chair.

We’re talking to Ioana Guiman, partner at Allevo, from the FF Salon at Sibos 2023 all about her journey into software, and managing a business. We also hear how as a business partner of Swift, they help banks and institutions connect to the Swift network.

In the hairdressers chair, Guiman talks about the importance of flexible working and slowing down when working in a fast moving sector. There’s also comments about the differences between the European and American markets and what they’re hoping to see at this years conference.

In this FF News Virtual Arena we speak to Matteo Pomoni from ING and Michelle Yu from Sandstone Technology to find out more about the changing demands in self-service banking and its impact on customer experience. Pomoni highlights the need for an omnichannel approach in the wake of significant changes in the industry and Yu predicts the continued coexistence of different channels.

We hear about the challenges caused by branch closures and the need to serve diverse demographics, with both speakers highlighting the continued shift toward mobile banking. There's interesting discussion throughout about the exciting developments in digital self service banking and the critical balance between convenience and security. Tune in to find out where banking in the digital age is heading.

Why should fintech startups make the trip across the Atlantic for Money 20/20 USA 2024?

We find out the answers to all this and more in the second part of our conversation with Scarlett Sieber and Zach Anderson Pettet from Money20/20 as they discuss how the global ecosystem is represented at the conference and the unique opportunities it offers for networking.

There’s comments on the current fintech landscape and how these times can actually be seen as fertile ground for resilient, impactful startups to emerge.

If you haven’t already, check out part one of this conversation on our website.

In the second part of our conversation with Scarlett Sieber and Zach Anderson Pettet from Money20/20, Ali Paterson shifts the focus toward the event’s global relevance and the strategic importance for international fintech companies aiming to enter the North American market. It could be said that in the past, a US focus may have deterred some from making the considerable expense to attend. He asks why companies from Europe, Asia-Pacific, and Latin America should consider attending?

In response, Anderson Pettet lets us know about the evolving global nature of Money20/20. He highlights the increasing participation from regions beyond North America, particularly Asia and Latin America, pointing out that the event is not just about the US anymore; it’s about creating a global dialogue in fintech. In fact, more regulators from Latin America will attend this year than those from the US, reflecting the growing significance of the region, something we’ve touched on before. He argues that for any startup, attending Money20/20 provides unparalleled exposure and the opportunity to test ideas in a concentrated, high-stakes environment. It’s a chance to see if a strategy to enter the US market is viable before making a significant financial commitment.

For Sieber the value of Money20/20 is as a platform for education and networking. The event offers more than just a chance to meet potential investors—it’s an opportunity to refine pitches, test ideas with a diverse audience, and forge partnerships. The US market might be challenging to crack, but the opportunities it offers, particularly at Money20/20, are unmatched and who knows where it could take your startup.

We also find out much more about the speakers and content at the event with Ali asking what excites our guests about the speakers. One thing that’s mentioned is how the content could potentially influence the direction of the global ecosystem and could have done in the past, if Money20/20 was around then. For Anderson Pettet, the most exciting moments are when startups emerge from stealth and end up being catapulted into the public consciousness, accelerating their growth.

Of course, while large stages and big-name speakers are exciting, some of the most impactful moments happen in smaller, more intimate settings. These can leave a lasting impression on the select few who experience them, showcasing the breadth and depth of the fintech community. Sieber also notes that the process of preparing speakers, especially high-profile ones, involves considerable behind-the-scenes effort to ensure that the content resonates and adds value.

We also get a broader reflection on the fintech industry’s current state, with Ali asking whether the industry should remain optimistic given the recent challenges, such as IPO speculations and venture capital shifts. Sieber remains optimistic, viewing the current reset as a necessary correction that will lead to more sustainable and impactful fintech businesses. She believes that the companies that can navigate these tough times will emerge stronger and become the new industry darlings.

And lastly, there may even be a couple of hints about things attendees can expect to see at this years event. Be sure to watch the video to find out more.

This could be the second biggest thing happening in the US this Autumn…

Money 20/20 is one of the biggest fintech conferences in the world.

The US iteration kicks off in Vegas next month.

We had to find out what sets it apart and give those at the top an opportunity to argue the case for events like this and let us know what’s happening in the fintech space across the Atlantic.

Find out more below.

In a lively discussion, Ali Paterson speaks to Scarlett Sieber and Zach Anderson Pettet, who both play pivotal roles in the strategic direction of Money20/20 globally.

The conference now takes place at 3 locations around the world, throughout the year, including Europe and Asia, earlier this year. You can watch our Money20/20 Europe coverage here.

Here, Pettet talks about his dual role as the Director of Content and VP of Fintech Strategy, which means he oversees the event’s global scope. The Fintech industry is constantly changing which, he says, necessitates a constant evolution in the event’s content to reflect current trends and future developments. Of course, AI gets a mention and regulatory changes are also impacting the industry in a big way so the event must continuously adapt.

Sieber, Money20/20’s Chief Strategy and Growth Officer, explains that her role involves managing the overall product of Money20/20, including content, marketing, and creative aspects. For her, surprising and delighting attendees is a key goal and notes that the way people engage with events has changed. New ways of doing things are needed and technology plays a key role in this. Of course, there’s lots of different stages and formats, such as the “Off The Record” stage and the “Press Briefing” stage, which they hope will create more engaging and transparent discussions.

Our panel also talks about how this year’s event will differ from previous years. Sieber points out that the 2024 event will be particularly significant, occurring just days before the upcoming U.S. election, a significant moment in history if ever there was one. This of course adds an extra layer of relevance to the discussions on policy and regulation.

They also tease some of the high-profile speakers and topics that will be featured at the event, including discussions on AI, regulatory updates, and embedded finance. Speakers will include Lynn Martin, President of the New York Stock Exchange, and Danielle Omodei, CEO of Anthropic, who will provide insights into the future of Fintech and its intersection with emerging technologies.

It’s an energetic conversation, and you’ll definitely get a sense of the speakers’ deep enthusiasm for the event and the industry. And this is just Part 1. Watch out for Part 2 coming soon.

In Amsterdam at the RAI for the Money20/20 Europe event, we met with Stuart Keen, Head of Community and Global Engagement at Fintech Australia, to delve into the organisation’s core activities and operations.

Fintech Australia is a leading industry association representing and advocating for the Australian fintech ecosystem. Their mission is to support and foster the growth of fintech innovation in the country through collaboration, education, and policy advocacy.

“We support about 450 businesses, fintech companies large and small. They’re our members, and we support them in the domestic fintech ecosystem.”

“Early on, it was really an education piece for the companies, and then looking at how we can help those companies access the market, educate themselves and then scale from there. So, for me really, it’s about, now that they’re educated, the businesses know a lot, they’re capable of doing really well back home in Australia: How can we help them to succeed in new markets?”

“I like connecting with the companies that are doing really innovative things, because they’re the ones who are the most unique, cutting-edge and exciting. It’s not about me, it’s not about us, it’s about those companies and how they’re really doing.”

We speak to Swift CIO Tom Zschach at the FF Salon at Sibos 2023, to hear from the man driving innovation at ‘the Society’. He says it’s a fascinating time to be in payments and cross border transactions and that a lot has changed in the sector, even in the last 3 years.

Zschach also talks about the importance of lifelong learning and humility when working in this industry and how collaborating with others is much better than trying to do it on your own. At Swift they’re uniquely positioned to work with a wide range of organisations across the industry and he’s looking forward to finding ways of dealing with emerging technology.

In this episode of The Paytech Show we speak to Chetan Cariappa, Director of Strategic Accounts at Volante Technologies, and Bethann Johnston, MD of Global Transaction Services at Bank of America, to find out what’s happening in American payments, particularly following the introduction of FedNow. Cariappa sheds light on the potential revenues associated with embracing real-time payments and Johnston discusses the ongoing shift from paper to digital. We hear about Volante’s role in global fintech to date and their pivotal contributions to real-time payments, including being the first to send one in the U.S.

Johnston outlines how Bank of America assists clients navigating these changes, helping them to adopt real-time payments at their own pace. The conversation touches on modernisation opportunities in healthcare payments and concludes by addressing the benefits and challenges of ISO 20022, offering a glimpse into the future where companies look to Paytech to provide transparency, fraud protection, and efficiency.

From the FF Salon at Sibos 2023 we speak to Mick Fennell, Business Director for Payments at Temenos, who fills us in on the changes happening in the US payments space following the launch of FedNow. There is increased appetite in financial services to offer instant payments and of course embed it in third party products. The question Fennell offers for those organisations is, ‘where is the long term ROI coming from?’

We also hear about further changes on the horizon, particularly in the correspondent banking space and how at Temenos, they’re helping companies to migrate to the cloud and build exciting new features for the end user.

In this episode of the Paytech Show, Grant Truter from BPC, Bruce Paveley from TymeBank, and Dieter Botha from Tyme Group, uncover a partnership that is revolutionising banking in areas like South Africa.

We hear about the successful integration of digital and physical banking solutions and the implementation of BPC’s seamless card issuance.

The story of TymeBank itself is also inspiring and shows incredible growth delivering services to an underserved population. In this great episode we hear about the factors that have made that happen from cloud scalability and collaboration.

BPC Chief Commercial Officer, Grant Truter, talks about how their partnership with TymeBank allowed them to realise their vision of merging digital and in person banking experiences. Their omni-channel solution would include self-service channels for customers and allow them to build a digital bank from the ground up, with BPC providing the necessary technological backbone. It’s a classic case of a technology partner making a vision happen.

Bruce Paveley, CTO of TymeBank, elaborates on their history and mission. From beginning as a money remittance service they evolved into a full-fledged banking platform about seven years ago. High banking fees have excluded many South Africans from financial services which is what they wanted to address. In a cash heavy society wanted to build trust in other forms of banking and payment, through reliable and always-available systems. This is where BPC’s SmartVista platform came in, along with the technical support they can offer.

That’s not it however. We also get insight from Dieter Botha, Group CTO for Tyme, who provides a broader perspective on TymeBank’s operational strategy and future plans. TymeBank was their first bank and they’ve since developed another in the Philippines.

Botha notes that TymeBank’s approach involves building and operating banks profitably, and after their current successes they’re now eyeing Vietnam for further expansion. Botha introduces the concept of “phygital,” combining physical and digital elements to enhance customer engagement. In South Africa, that means employing self-service kiosks in retail stores, allowing customers to open bank accounts and receive personalised Visa debit cards within minutes, facilitated by biometric verification.

This model has been successful, with TymeBank issuing approximately 500,000 cards per month across its operations in South Africa and the Philippines.

The interview is a perfect example of a partnership that has successfully blended advanced digital technologies with practical physical solutions to drive financial inclusion. In the areas they operate this is ground breaking. Tune in to find out more and see how this could be replicated elsewhere.

If you would like to learn more about the BPC x TymeBank case study – read the full story here.

At Money 20/20 Europe, in the RAI in Amsterdam, Rebecca Wright, Chief People Officer at LHV Bank, joined us in our FF Salon to discuss her crucial role within the organisation.

LHV Bank is a fully licensed UK bank that specialises in offering comprehensive banking services to global fintechs and personalised SME lending solutions to UK businesses. LHV Bank gained its UK banking license in May 2023 and plans to expand its banking services offering to e-commerce businesses and start accepting retail deposits later this year.

“LHV is still quite new to the UK market as an employer. When I joined in August 2021, there were 4 or 5 of us in the business, and we’re now at about 130 people.”

“We like to experiment and iterate our thinking, so it’s a very agile, entrepreneurial business.”

“I’ve got a good team, so I definitely get to do all the really nice parts of the job rather than some of the less glamorous parts.”

✂️ Sheel Monhot, co-founder of Better Tomorrow Ventures joined us in the FF Salon at Money20/20 in Amsterdam to talk funding fintech 💰

Better Tomorrow is a fund that leads pre-seed and seed rounds globally and started in 2019. Sheel offers some insight into how the funding landscape has evolved over the last couple of years and talks about finding teams and ideas worth investing in.

He opens up about some of the trends in fintech and separates the hype from the genuinely exciting opportunities, as well as sharing his experience of saying yes and no to founders in search of funding.

“I’m wary of overfunding. Part of what makes companies special is having less capital and more constraints, but I think that is changing now for the better.”

“The best part of my job is working with founders, and getting inspired by them. Worst part is saying no to founders who are building their dreams. Sometimes you have to say ‘I’m not going to fund this’ and that can be tough.”

In Amsterdam for Money20/20 Europe 2023, we were joined in the FF Salon by Jennifer Bennett, Senior Vice President of Global Enterprise Sales at Trulioo. Trulioo provides a global identity platform that gives you the agility, ease and efficiency to onboard the right customers anywhere in the world, whilst reducing fraud and minimizing costs.

“So many in industries have this obvious issue [of identity verification]. We’re hearing a lot of interest from marketplaces or advertising platforms that really need to verify that the people coming on their platforms are real. Sellers who are selling real products that they have the rights to sell”

“That’s a very complicated problem when you think about some of these businesses that we work with. If a consumer is coming and buying a product and has a horrible experience, well that consumer is never coming back and they’re telling their friends. So, it’s a real trust and safety issue.”

At the RAI in Amsterdam for the Money20/20 Europe event, we caught up with Jim Marous, Banking Influencer, Owner and Host of ‘Banking Transformed’, at our FF Salon to learn more about what he does.

The Banking Transform Podcast, hosted by Jim Marous, offers in-depth exploration of the latest trends and innovations in the banking and financial services industry. Through insightful interviews and discussions with industry experts and thought leaders, it provides valuable insights into the ever-evolving landscape of the financial sector.

“Three years ago, I started a podcast, and that’s been the most fun initiative I’ve had. Every week, twice a week, I’m doing an interview with somebody who I’ve not met before, in many cases, and get to dig deep into what makes them special, what makes their company special and what challenges they’re facing.”

“Whilst it’s extraordinarily challenging and harder to be a good bank now than it ever has been, there’s more opportunity than ever to be that good bank.”

“The thing to avoid is trying to build something too big, too fast. If you’re in content as I am, how are you going to be able to deliver on a consistent basis so that people know when to find you without looking? For me, they know they’re usually going to see me on a Monday morning in my webinar.”

At the FF Salon we had the pleasure of speaking to Caroline Haas, Capital Markets Head of Climate and ESG at NatWest, about how they support financial institutions and companies through their ESG transition. From Sibos 2023 we hear some key points from a talk titled ‘It’s not easy being green’, about how companies can overcome the tremendous workload required to stay in line with regulations.

We also hear about their focus on female entrepreneurship and decarbonisation as well as her thoughts about her journey so far and what’s needed to succeed and flourish in a financial career.

For AI to have a positive impact on banking, clarity is key.

On the latest FF News Virtual Arena, Allan Kissmeyer from SEB Bank explores the increasing role of evolving technologies in banking from his vantage point in the Nordic region.

SEB’s unique focus on large corporates in the Nordics means he can also weigh in on the importance of standardization, particularly through ISO 20022, as a foundation for leveraging the likes of AI, and offers a couple of timely concerns too.

Read on to find out more about what we discussed.

Allan Kissmeyer is the head of cash management at SEB Bank and knows a thing or two about how money is moving around Europe. Speaking to Tim Goodfellow, he’s able to offer some insights from a Nordic banking context but also explores the rise of central bank digital currencies (CBDCs) in Europe. SEB has a unique position in the market, supporting large corporates and financial institutions, a legacy that distinguishes it from other Nordic banks, particularly in the retail space.

Unsurprisingly, a major part of the conversation focuses on AI’s potential in banking. It’s something we’ve covered in many other conversations including this one exploring use cases in banking today. While AI is often hailed as transformative, Kissmeyer emphasizes that banks should proceed cautiously, particularly in the absence of clear regulatory frameworks. There’s no question however that AI offers significant opportunities, especially in enhancing internal processes like payment systems.

He highlights how cash management, which relies heavily on standardization and straight-through processing (STP), could benefit from AI by reducing inefficiencies caused by deviations in payment flows. However, Kissmeyer stresses the importance of building a solid foundation, such as the ISO 20022 standardization, before fully leveraging AI and other advanced technologies like blockchain. While ISO might seem like a behind-the-scenes development, its implementation represents a multi-billion-dollar investment critical to ensuring global financial stability.

The conversation also covered another hot topic, embedded finance. In his view, this is not only about improving operational efficiency but also about driving financial inclusion, a central responsibility of banks. However, regulatory pressures rear their head again and Kissmeyer raises concerns about the conflicts banks face, particularly the challenge of balancing anti-money laundering (AML) requirements with open banking regulations like PSD2 and the forthcoming PSD3. He underscores the need for clarity and uniformity in regulations to avoid contradictory mandates that could impede progress in areas like financial inclusion.

Finally, the discussion moves to central bank digital currencies, specifically the digital euro, and their potential impact on financial systems. The prospect of a Digital Euro rollout is gathering steam and Kissmeyer expresses cautious optimism, noting that while CBDCs could enhance financial inclusion, their broader implications remain uncertain. The other thing is that in the Nordic region, the digital euro may have limited impact due to the existing currency ecosystem, but that’s not to say they couldn’t have digital currencies of their own.

It’s a great all round look at the state of technology in banking, and there are many more conversations just like this one on our website.

We speak to Chris Caruana from Hawk:AI at the FF Salon about what they’re doing in the areas of fraud detection and AML. Speaking at Sibos 2023 in Toronto, Caruana tells us how he got to this position and how working with Hawk AI is the perfect match up of his interests in technology and preventing fraud.

There’s a sense that this product can have a meaningful impact on real people, both consumers and organisations alike, who are continually under threat from fraud and money laundering. In this interview he also talks about the importance of networking and Hawk:AI’s goal to be the world’s best in the financial crime space.

Over at our FF Salon at the RAI in Amsterdam for Money 20/20 Europe, we had the opportunity to meet Louise O’Shea, Non Executive Director at YuLife, to learn more about her field of work.

YuLife is a pioneering firm specialising in life insurance solutions that integrate wellness incentives, fostering healthier lifestyles alongside comprehensive financial protection.

“I do a lot in insurance. As a little girl, I never thought ‘oh yeah, I really want to grow up and work in insurance.’ That’s certainly not something that one would aspire to generally. So I definitely fell into it, and I think that’s not an uncommon thing for people to find with their careers. I’ve always looked for things that challenge me, things that push me outside of my comfort zone.”

“The key is understanding what drives you – your inner purpose. If you can understand that and tap into it, then nothing will stop you. It takes a while to work it out and to also work it out with the people around you as well.”

“I know what makes me happy, and that’s working with great companies, working with great people and making a difference.”

We’re back at the FF Salon at Sibos 2023 talking to Marc Andrews, VP of financial services at Pega. He speaks about how they are helping banks reduce costs and get to real time payments processing faster. We also hear about the difference between the US and other markets in this area.

There’s conversation on the potential merits of AI, including an interesting point about injecting generative AI into the payments stream, helping human operators to translate cryptic machine messages. He also challenges those who might see new technology as simply a way to do pre-existing tasks faster, instead suggesting it should open up whole new ways of doing things.

Join Dan Kramer from Jaid for an exhilarating episode of the FF Salon at Sibos 2023. Kramer, shares his unique journey from seeing Wall Street in the 1970’s as a child, to revolutionising workflows in a completely digital ecosystem.

In this captivating session, Dan discusses how Jaid addresses unmet workplace challenges, making the mundane meaningful for both clients and their customers.

Discover the significant impact Jaid has, improving lives and showcasing the immense potential fintech holds in transforming traditional industries. Dan emphasises the importance of culture, inclusive hiring practices, and fostering excellence.

Prepare to be inspired by this remarkable FF Salon conversation that underlines the all encompassing benefit that the fintech landscape can provide.

At Money20/20 Europe, held in the RAI in Amsterdam, FF News spoke with Gabrielle Inzirillo, Head of Ecosystem Development, Financial Services Regulatory Authority at Abu Dhabi Global Market, to touch upon her role and responsibilities within the organisation.

Abu Dhabi Global Market (ADGM) is a leading international financial centre based in Abu Dhabi, UAE, providing a platform for businesses and financial institutions to operate, innovate, and thrive in a dynamic ecosystem. It offers a wide range of services, including financial regulation, registration of companies, and support for fintech and innovation initiatives.

“As a regulator, we are evidently civil servants. Our goal is to ensure that we have a business friendly environment that still upholds robust rules and regulations, so that business can work, business can function, and people trust the businesses that they work with and entrust money to.”

“One of our key pain points is that, as a government body, we have to decide our risk appetite – firms that we want to regulate and that we think are good for the business environment, and others that may potentially pose more of a risk to society or to the business environment, and that are maybe too difficult to provide appropriate oversight over.”

In this interview from our FF Salon at Money20/20 Europe in Amsterdam, we spoke to one of the minds behind the conference itself!

Mark Slade is Global VP of Creative at Money20/20 and helps to make the event what it is, bringing the venue to life, with exciting visuals, showstopping design, memorable experiences and a playful ethos that really makes Money 20/20 stand out from the rest.  He spoke to us about how they’re trying to “make the show a genuinely memorable experience as well as a fantastic place to do business.”

The team have taken their core proposition “Now and Next” and built on that to create an event that had a band in a booth, DJs and cool places to hang out, alongside industry leading conversations and networking.

“You want to appeal to as many people as possible but that’s not always a good thing. The question is how do you tailor special one off moments in a show this big? But it’s a fun challenge.”

Mark goes into a bit of his background, showing us why he was the man for the job and whilst remaining tight lipped on details, assures us that plans for next year are well underway and will be revealed after Vegas in October. We can’t wait!

We speak to Michael Mueller, CEO of Form 3 at the FF Salon at Sibos, where he explores the beginning of their cloud based Paytech company and how they’re scaling up.

According to Mueller, there is increasing focus on real time payments across the financial services industry, both in Europe, where it is almost the norm, and the US, which has recently made big strides in this area. You’ll also hear some wisdom on building a fintech company well and the slow pace of change in the finance world.