Day 1 of Fintech Live London 2024 saw industry leaders explore the future of payments, AI and embedded finance. From AI-driven customer experiences to the expanding role of B2B embedded finance, the sessions provided key insights into the technologies that are reshaping financial services.
Day one of Fintech Live London 2024 kicked off with a series of compelling panel discussions, keynotes and fireside chats delving into the future of payments technology, embedded finance and artificial intelligence (AI) in financial services. Held at the prestigious 155 Bishopsgate in central London, the event brought together thought leaders and innovators exploring the latest trends shaping the industry.
Here we summarize the main highlights of day one.
The future of payment technology
The day started strong with engaging panel discussions including the future of payments technology. Experts from leading companies such as Primer, Mangopay and Corlytics provided insight into how advances in payments technology are reshaping the way businesses and consumers transact.
Primer co-founder and CEO Gabriel Le Roux highlights the growing importance of contactless payments and mobile wallets, especially as consumer demand for fast and frictionless payments continues to grow. I did. Kirk Donohoe, Chief Product Officer at Mangopay, explores how blockchain technology and biometrics are adding new layers of security to digital payments, reducing fraud and improving the user experience. Ta. Mike O’Keeffe, Corlytics’ senior vice president of business development, highlighted the regulatory challenges and opportunities that come with these innovations and concluded the discussion by emphasizing the need for compliance as payment systems evolve. Ta.
The consensus among the panel was clear. Payment technology is increasingly integrated into everyday life, and businesses need to adapt quickly to take advantage of these trends. This conversation reminded us that to stay ahead in this space, we need to not only embrace new technologies, but also understand the regulatory and customer-centric aspects of digital payments.
B2B embedded finance: Unlocking value for your business
In a fireside chat titled “B2B Embedded Finance,” Chip Mahan, Global Head of FinTech Strategy and Operations at Sage, and Andrea Reynolds, CEO of Swoop, discuss the immense value it provides to B2B businesses. We discussed embedded finance.
Mahan emphasized that embedded finance is not just about providing payment solutions, but about integrating financial services directly into customers’ business operations at the right time. This allows businesses to seamlessly meet their financial needs with minimal friction. Reynolds added that solutions like Swoop’s platform, which allows businesses to access a wide range of financing options such as loans, grants and investment opportunities, are paving the way for a more connected financial ecosystem. Ta.
Both speakers emphasized that embedded finance is not just a trend, but a strategic move that companies are making to provide a better customer experience and unlock growth opportunities. This session provided the audience with a clear understanding of how B2B companies can leverage embedded financial solutions to gain a competitive advantage.
Realizing the true benefits of AI adoption
AI was a major theme throughout the first day. In a fireside chat titled “Realizing the Real Benefits of AI Deployment,” Gerald Pullen, Managing Director of Business Transformation at Concentrix Catalyst, looked beyond the hype surrounding the technology to explore the practical benefits of AI in business. We discussed the benefits. .
Mr. Pullen explained that the potential of AI lies in its ability to streamline operations, reduce costs, and improve customer experience. He said AI-powered insights can help businesses make better decisions in real-time by analyzing large amounts of data, which can ultimately improve productivity. One of the key takeaways was that companies looking to scale AI effectively need to focus on data quality, infrastructure readiness, and human-AI collaboration.
Pullen also touched on ethical considerations and the importance of ensuring that AI is deployed responsibly. This session provided participants with practical insights on how to strategically integrate AI into their operations to enable sustainable growth.
What does good use of AI look like?
Discussions focused on AI were active throughout the day. Starling Bank’s Chief Technology Advocate, Jason Maude, in his keynote entitled “What does the right use of AI look like?” said Starling Bank is leveraging AI to improve personalization, security and operational We have detailed how to enhance efficiency. Maud stressed that AI should be viewed as a strategic tool rather than a one-size-fits-all solution, encouraging businesses to align their implementation with the broader goal of providing a seamless and secure customer experience. urged.
He emphasized the critical importance of high-quality data as a foundation for AI success and the need for continuous monitoring to maintain model effectiveness.
Generative AI that shapes the future
The next session, the AI in FinTech Forum, brought together industry leaders to explore the transformative power of generative AI. Panelists included David Palmer (CPO, Vodafone Business), Nelson Wootton (CEO, SaaScada), Pawan Udernani (VP Data Tech, Genpact), Andrew Robinson (Product Director, NatWest), and Isabel Pitt (Digital Payments and Cards Director, Nationwide) were included. .
The discussion centered around how AI, particularly generative AI, is reshaping the FinTech landscape by enabling more personalized customer experiences and streamlining internal processes. Panelists highlighted the power of AI embedded in banking systems, noting that AI has significantly enhanced customer service, with AI agents handling operational tasks and responding to customer inquiries in real-time. He predicted that eventually most customer interactions would be driven by AI, and customer-to-customer interaction would be minimized. Human involvement in the transaction process.
The discussion also touched on the ethical implications and data challenges associated with implementing AI, particularly in highly regulated industries such as finance. But the prevailing sentiment was one of excitement, as AI stands to drive innovation in FinTech and transform how companies operate and engage with customers.
A glimpse into the future of FinTech
Day 1 of Fintech Live London 2024 provided a wealth of knowledge about the current and future landscape of FinTech. Whether discussing payments technology, embedded finance, or real-world applications of AI, the message was clear. Innovation is transforming industries and companies must be prepared to adapt.
Stay tuned for more coverage from Bobsguide as we dig deeper into the trends shaping the future of financial services.
