Money20/20 Key Takeaways

We’re back from Money20/20 Europe and here’s our synopsis:

>> The event grew so much, it is out of control. The circus theme definitely helps support this feeling. The setup is amazing. And if you carefully navigate through the entire agenda, there actually are some interesting topics and speakers in between all the product ads.

You cannot be customer centric without having the correct underlying infrastructure.

>> Open banking was brought into discussion on all panels. Not surprising, with PSD2 knocking on our doors.

>> When getting started with AI, the most useful approach is to look at some use cases. CoBot by Carnegie Mellon was explained in a very pragmatic way and showed how robots and computers need to co-exist with humans in order to achieve better productivity and efficiency.

>> Real issues banks face. Like getting the data in the right geography and system to be able to make use of it; residence, cross-border, privacy regulations make it very hard. Keeping lending as core business.

>> A series of buzzwords were thrown down the bin: blockchain, we are moving to a cashless society, cards are the future, banks are customer centric.

>> Don’t become somebody’s PR pet – Leda Glyptis’ advice for Fintechs to prevent from becoming money blind and accepting non-recurrent deals coming from the wrong budget. In short, make sure what you sell is needed and it’s not a one-time purchase. Make the right partnerships that fit who you are and what you want to achieve.

GDPR is a complete waste of money and completely pointless.

>> Self Sovereign Identity dilemma: should one own his own data or should he trust someone or something else?

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