Money 20/20 is the world’s biggest, most influential gathering of the global money ecosystem, where visionaries, innovators, and leaders come together to discuss and explore the latest trends and developments in the financial world.
This year’s event promises to be a special one and we’re looking forward to meeting fellow industry experts in Las Vegas, sharing thoughts on the latest market trends and where the industry is headed.
With trailblazers like Ben Horowitz, Andreessen, Emilie Choi, Coinbase, Ariel Cohen, Navan, Ken Cornick, Clear and Ali Ghodsi, Databricks set to take the floor, we’re counting down the days!
This year’s agenda focuses on stories told through four distinct chapters addressing what’s happening now and where the industry is going next:
Trust & Uncertainty
Creative Destruction & A Technological Renaissance
Age of Fundamentals
It’s time to Build (Utility)
With these in mind, we believe there will be three key talking points during the five-day event:
1. Cross-border payments
‘Perception vs. Reality in Cross-Border Payments: Who Wins the Future?’ takes place on day two and will feature Tom Dye, Boston Consulting Group, David Birch, Consult Hyperion, Jody Visser, Conerva and Pankaj Sharma, Remitly. The panel will dive into cross-border payments and discuss where the opportunities are and what businesses must focus on to capture the most value.
While cross-border payments have improved for consumers in recent years, standards in the B2B market have largely remained the same. Payments are slow, fees are hidden and tracking is largely non-existent for many firms.
Banks don’t just heavily mark up the exchange rate, they they also inflate the overall price, hampering profits.
Fortunately, there is a plethora of fintechs that offer alternative solutions to these payment pain points that traditional banks simply can’t.
The emergence of virtual or digital wallets is allowing businesses to make same-day payments and provide enhanced security through encryption, multi-factor authentication and real-time fraud detection mechanisms – securing the business’s activity and assuring international customers that their purchase is being conducted safely.
2. SME banking
‘Banking Infrastructure Summit: Building a Modern Technology Stack’ takes place on Day one and features Travers Clarke-Walker, Thought Machine, John Froese, Google Cloud and Reetika Grewal, Wells Fargo. The panel will discuss the issues banks face today and how they can gain a competitive edge and prepare for the opportunities of tomorrow.
SMEs are an underserved part of the market and continue to put up with the slow and costly processes associated with working with traditional banks.
The recent banking crisis has called into question how CFOs and treasurers at SMEs manage their deposits and mitigate risks associated with a single point of failure.
When working with traditional corporate banks, opening an international bank account is a difficult, long and painful process – and the subsequent transactions can take days.
Many corporates end up having different accounts for each country or currency, which adds complexity. If a business needs to onboard a supplier in a different market, it can take weeks to get the infrastructure in place.
Using just an International Bank Account Number (IBAN), SMEs can set up an international account with their own multi-currency, allowing them to manage cash flows and view trading data, all in one place.
3. Human and computer collaboration
One of the most dynamic developments in fintech over the last year has been the rise of artificial intelligence (AI). Beyond chatbots and digital assistants, AI is being used for many things, from fraud detection and prevention to investment management.
Achieving the right balance between human interaction and maturing technologies requires careful thought. On one hand, increased automation and the removal of manual processes have been positive for treasurers, particularly during the pandemic, The risk, however, is the complete removal of human support could have an adverse effect.
Now that we are in the ‘age of AI’, we expect AI vs. humans to be a central topic at Money 20/20 this year.
A panel will explore this topic further on Sunday 22nd October, ‘Preparing for an AI & Emerging Tech Revolution’. This panel with Navrina Singh, Credo AI and Sheila Colclasure, IPG, will focus on the potential privacy risks posed by AI, the current state of privacy laws under discussion in the U.S. and EU and how organisations should be prepared.
As the financial industry hurtles forward, propelled by technological advancements and evolving expectations, this event serves as a vital space for ideas, innovation and collaboration.
If you’re attending Money 20/20 from 22-25 October get in touch today to set up a meeting with the Neo team.