The most significant financial technology events came back in 2022 and Team Scalefocus was buzzing to reunite with the community. There was a lot of catching up to do at both Money20/20 and Fintech Nexus (formerly known as LendIT) as the industry had been changing at an even faster pace since the pandemic started. And catching up in person was certainly part of the fun.
Let’s start with Money20/20 Europe – the biggest financial services forum in the world. Banks, payment providers, startups, and technology leaders like Scalefocus – it seems everyone who wants to be one step ahead of the game was in Amsterdam between 6 and 8 June.
What has left the most lasting impression is how quickly XaaS (Anything as a Service) solutions have progressed and the fact they now cover 100 percent of the ever-growing needs of the sector. Migration to end-to-end solutions for integrated data systems as a service is also a trend that companies are keen on following in 2022. Other hot topics included the focus on User Experience over tech stack and the increasing importance of interoperability, distribution, and standardization.
FinTech is more open and collaborative than ever - companies are not only investing in innovative solutions, but also in easier ways to integrate with each other. We see an ecosystem that is really capable of elevating customer services enabled by technology.
LendIT/Fintech Nexus took place in New York on 25 and 26 May. It was an interesting collection of US-based fintech platforms, traditional banks, and hybrid disruptors all looking to take advantage of the booming world of data-driven financial innovation. The focus was on how AI, ML, and RPA can be used to make traditional banking more enticing to a new generation of customers.
While there is no shortage of innovation in the space (including blockchain/crypto to go along with AI and ML), it is clear that legacy institutions are not willing to sit on their laurels and get lapped by startups. The result is an exciting ecosystem of innovation and competition in the Fintech industry, where everyone is trying to get better, and the best of the best are rising to meet the challenge.
For Scalefocus it was particularly encouraging to acknowledge that our solutions are very much in tune with the latest trends as our participation in the hot topic discussions proved. And we can’t wait to get back next year and discuss all things FinTech with our friends from the industry again.
Krasimir Kunchev
Senior Content Writer