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FinTech, the lithe and nimble cousin of the traditional bank, are rapidly growing in reputability. As financial operations are increasingly digitised, the prospect of storing money is no longer tied to a physical establishment with physical confines.
And while people have not been wholly dissatisfied with their bank’s handling of the pandemic (one survey reports only five per cent having issues with their bank’s response efforts), 2020 saw a surge in digital banking usage.
The game that will be played out over the coming years is a competition between fintech’s and traditional banks to see who successfully adapts to the changing climate and, ultimately, who offers the better customer experience.
Startups like Revolut are solving convenience issues that have plagued banks for decades, but have not yet optimised their format, causing many to remain sided with their older, brick-and-mortar counterparts.
Besides frantically exercising the refresh button of your news feed, how can you navigate these turbulent currents, stay informed and capitalise on the changing market?
While digitisation has been a recurring theme of the pandemic, now more than ever, the importance of attending live events is paramount. There is a limit to how much of the general climate one can gauge via digital channels.
While the quantity of information is enormous, it is nonetheless easy to miss trends, to be drowned in data, and to fall prey to small-picture thinking when slouched in front of the computer screen. ‘Invariably, some pieces of the puzzle are left out in the digital world. For those attempting to build a solid understanding of the market, events are an invaluable resource,’ says Alan Jenkins of Black Robin Exhibits.
When the restrictions are finally lifted, it may be time to drag a comb through the growth that sits on your head and venture out to upcoming fintech conferences and seminars.
With that in mind, here are some of the most significant events of 2021.
While this is a virtual summit, UK FinTech week will see a congregation of founders, entrepreneurs, investors, politicians and academics that would rival any real-world event in scope. This may be 2021’s best opportunity to gauge the current state of fintech.
Postponed to early June, this summit will assemble a cohort of banking and fintech executives, banded together under the common purpose of discussing the uncertain future of financial technology.
From high-street banks and tech giants to disruptive startups, Fintech Week London will be assembling a vast array of speakers and thinkers, packing a huge amount of content into a five-day event.
The implications of a changing financial sector on regulation and compliance are vast. Firms across the globe are now employing new, advanced technologies to ensure that they are more effective in reaching compliance. The RegTech Summit on June 1st will address some of the most pressing issues in this new field.
One slogan adopted by this event’s organisers is ‘Partner or Perish’, an indication of the view held by many leading thinkers in fintech that collaboration is the key to a successful future. Money 20/20 assembles a vast lineup of players from fintech startups and banks to payment rails and more. This summit is not to be missed by those seeking to gain the financial lay of the land and forge alliances.
What used to be a traditional industry based on the simple mechanic of money storage, is now an ever-changing entity affected by each new development in technology. From AI to big data, machine learning to cloud computing, the branches of tech innovation are sprouting off in multiple directions, and financial institutions have no choice but to keep up. Faced with this somewhat daunting prospect, the importance of attending events should not be underestimated — they may shed light on a murky, complex future.
More on Black Robin Exhibits here