The digital breakthrough in the banking sector has reached a huge scale. In the era of digital transformation, both individual customers and large enterprises have gained many new opportunities, but this is directly related to many new challenges and new risk factors, especially for old-fashioned banking institutions. Over the past few years, the importance and position of low-cost fintech competitors has increased dramatically, putting traditional players in the market to the test. It is a real race to see who is best able to meet customer expectations.
Impact fintech’17 will be an opportunity to present a series of banking innovations based on the latest trends and methodologies in the field of advanced analytics, open platforms, cloud computing, biometric technologies, external data acquisition, augmented intelligence and many more.
The payments sector is growing quite fast nowadays, largely due to breakthrough innovations appearing in global markets. We are dealing with a significant breakthrough, where we use less and less cash and payment cards, and more and more often we use new options such as mobile payments and digital wallets. Many of the solutions offered at the moment are not only convenient for consumers and entrepreneurs, but, more importantly, allow for continuous development of the business, development of better ways to retain customers and expanding the business to new markets.
Impact fintech’17 will allow for the presentation of new achievements and a discussion on them, with particular emphasis on the issues of customer safety, personal finance management and data analysis.
Alternative Finance & Lending
Fintech innovators are redefining credit policies by simplifying and expanding access to capital. This is particularly important for small and medium-sized enterprises, which have often had to stop operating due to the lengthy and complex fundraising processes to which they have been subject. Digital credit platforms are designed to help consumers obtain the funds they need quickly and efficiently. At the same time, due to regulatory concerns and the threat it has the potential to pose for traditional credit institutions, the industry has recently become a topic of frequent debate and speculation.
At Impact fintech’17, we will discuss various services available on the market, ranging from social loans, through third-party lending platforms, to crowdfunding platforms, both in the pre-sale and equity model. The discussion will cover their business models, data sources and methodology of credit decisions, future prospects and consequences that new opportunities may have for incumbent entities.
Legal & Regulatory
Industry subject to appropriate and well-thought-out regulation should foster innovation, protect consumers and support financial integration. However, in the era of digital transformation, dominated by new technologies and methods of operation specific only to individual innovative fintech companies, regulations may constitute a barrier to market entry. Therefore, the relevant supervisory authorities face the difficult task of establishing legal acts taking into account the forecasts of the upcoming changes.
At Impact fintech’17, we will focus on analyzing various models of cooperation between key players in the financial services ecosystem, with particular emphasis on consumers and service providers. We will also discuss the latest and upcoming regulatory changes that will have the greatest impact on the financial services industry.
The breakthrough in traditional financial institutions has resulted in the availability of many new services for consumers and new opportunities for enterprises. At the same time, it has also raised concerns related to cyber attacks, which may potentially threaten the market attractiveness of the services offered. Security and trust are at the heart of all financial services. Entities operating in this sector have to face many challenges in this respect, especially in terms of maintaining a balance between the development of technologies responsible for the transfer and storage of customer data, security optimization and risk management, and issues related to the convenience of using services and adapting to legal requirements which – in the event of non-compliance – may entail high financial penalties.
At Impact fintech’17, we will have the opportunity to listen to industry leaders who will not only present analyzes of new challenges that have been set before them, but also share innovative solutions for new problems, such as the use of biometric or algorithm-based technologies that effectively support the process automation and help to reduce fraud losses.
Al, data & algorithm-based innovation
Although AI technology has been around for a long time, it has only recently become an integral part of our daily lives. This is especially true in the field of financial services, where innovation is largely driven and supported by AI and data analytics solutions. Unlike traditional financial institutions with an established market position, the success of innovative fintech companies is largely based on providing higher quality customer service. True personalization of services, on the other hand, can only come about through effective data collection and analysis.
Impact fintech’17 will focus on discussing solutions implemented by leading companies in developed markets – especially those that have provided their users with a competitive advantage. In addition, we will hear speeches of industry experts who will present various aspects of the technologies used to facilitate, among others credit assessment or fraud detection, or enabling personalization of messages sent to clients.
The breakthrough in financial services is happening on many levels. Many
solutions previously considered a threat to traditional entrepreneurs now allow them to stay in the market by causing far-reaching changes in banking procedures. To what extent does distributed ledger technology affect the financial sector? Does blockchain technology have a chance to change the face of financial services as the Internet has changed communication? Will this solve the industry’s problems in terms of integration, privacy, security, cross-border service provision or trade?
The Impact fintech’17 program assumes an analysis of the ways of practical use of the virtual currency Bitcoin, such as its use by the most important banking institutions to develop the cryptocurrency ecosystem or to conduct experiments in innovation laboratories. We are constantly setting the future directions of blockchain technology, and in the course of Impact fintech’17, we will have a chance to get to know them better.
Every day we deal with new solutions in the field of finance and trade that improve the processes of buying and paying. A key factor in the intense and continuous changes we are dealing with is the desire to provide better customer service.
At Impact fintech’17, issues related to multi-channel sales, the Internet of Things and data use will be discussed. What is the role of POS technologies and how do they expand the pool of enterprise categories? Which new trade segments will be digitized? Find out at Impact fintech’17!
The digital transformation poses an increasing challenge for the insurance industry, which has so far been adapting to changes quite slowly. Insurtech technologies are developed to meet the growing needs of digital customers. The increased use of the big data method in the insurance industry, especially in the field of collecting information about the consumer and analyzing his behavior, has a huge impact on the face of the sector. Innovative technologies allow insurance companies to better analyze market trends and predict trends more accurately than ever before, while helping to ensure real-time quotation and far-reaching personalization of services.
Impact fintech’17 will be an opportunity to present the latest key trends in the insurance industry, including those related to the use of telemetry, UBI, or the use of artificial intelligence, which revolutionize the methods of purchasing insurance products.
The impact of the breakthrough in the financial industry is felt by everyone – traditional institutions rebuild their strategies under the influence of fintech and techfin solutions introduced by newcomers. It is not only the ones that ensure a higher degree of efficiency with lower financial outlays that change the face of the sector. New models, the value of which are reflected in rising levels of investment, policy agendas and business accelerators, also contribute to this. All these changes actively influence the experience of service users.
Impact fintech’17 will be an opportunity to have an insight into the described dynamics and explain it by following examples of partnerships between startups and corporations, the growing popularity of corporate VC funds, following investment trends, discussing investment hotspots, with particular emphasis on the CEE region, and listening to comments on the most relevant experiences from entrepreneurs who have successfully scaled their products. We are shaping the future of fintech now!