Supplement: FinovateEurope 2020
Greetings, and welcome to FinovateEurope!
FinTech Futures decided to spruce things up a little bit and give this year’s Finovate supplement a fresh look to steer us into the new year and showcase our sister brand’s expertise.
In this edition, Greg Palmer, VP at Finovate, reflects on fintech’s progress in the past 10 years and provides his predictions for where the industry will be heading in the next decade. Palmer notices three primary factors that play a major role in shaping the fintech industry: hardware innovations, developer tools and customer demands.
“As we look forward to the next 10 years, I predict that the industry will continue to be shaped at a high level by these same three factors,” writes Palmer. “However, I think the way they exert their influence will be very different from what we saw in the past decade.”
Julie Muhn, senior research analyst at Finovate, chose to usher in the new year by celebrating the Second Payments Directive’s second birthday! Regulation has certainly played a key role in financial services and PSD2 has certainly made some impressive progress in the fintech sector.
“Although some consumers may not realise it, they are indeed better off. Many banks have expanded their APIs and integrated with third-party providers […] and the introduction of more players has increased competition which, in turn, encourages banks to enhance their offerings and customer service,” says Muhn.
Muhn explores the highs and lows of the directive, from enhancing open banking initiatives to the lack of education among consumers in control of their own data.
David Penn, staff writer and social media strategist at Finovate offers his interpretation of what the new year could bring – dissecting the rise of venture capital in challenger banks. “As 2020 begins, there may be no hotter fintech theme, both globally and in Europe, than the rise of the challenger bank.”
He believes VCs provide neobanks with the capital to develop new products and scale their businesses, “which is an especially worthwhile option in Europe where a banking licence from one EU central bank can enable a challenger bank to operate through Europe,” Penn notes.
FinTech Futures has produced a map with some of the latest upcoming fintechs based in the centre of Berlin to explore whilst you take a break from all the wonderful panels and demos ahead.
For those who are traveling to the event, I sincerely hope you enjoy the next few days and thank you for taking part. I’m sure you’ll leave with the knowledge and inspiration that will make your year more productive.
Click here to access the FinovateEurope 2020 Supplement online – it is free and no registration required. Just click and read!
Or pick up a complimentary print copy at the event (11-13 February 2020, InterContinental Berlin, Germany).