I went to three major fintech conferences. I share my insights and recommendations

At the end of this newsletter, I will share my conclusions and tell you which events I have put on my calendar for next year and why.

Where are we going?

Mobey Forum

• UBS Platform Strategy
• Key principles of a successful platform strategy in banking
• Launching a Digital Bank - Practical Case of Raiffeisen Digital Bank
• BLIK - a Huge Success Story for Money Transfer&Payment Service

Money20/20

FinTech & InsurTech Digital Congress

What experiences would I want to repeat

Mobey Forum

May 22-23, Krakow

A unique feature of the forum is that it is a global networking platform where panel discussions occur. So, this is more about trends, experience sharing, great networking and a cosy atmosphere than the immediate business outcome.

UBS Platform Strategy?

Matteo Bernardoni from 瑞银集团 shared an innovative approach to platform strategy, which UBS has implemented on their mortgage broker platform.?

This strategy focuses on business integration and enhancing user experience. It segments users into five categories: renters, Dreamers, New Home Buyers, Property Owners, and Sellers.?

This sharp and creative segmentation allows UBS to customise services to meet specific customer needs.

Key features of the UBS strategy:

• UBS integrates relocation services directly into the mortgage process, enhancing user experience.
• Despite the platform's digital nature, users can still connect with advisors online, maintaining trust and providing personalised recommendations.
• UBS partners with competitors (bold move!) to offer third-party mortgages on its platform, expanding customer choice and reinforcing its customer-first approach.

Key principles of a successful platform strategy in banking

I would also like to highlight the discussion led by P?l Krogdahl , where the key principles of a successful platform strategy in banking were discussed. Key takeaways:

• A successful platform strategy requires top management support and a fundamental change in corporate culture, even refreshing the team to introduce fresh ideas.
• Shifting the focus of business strategies from just results to achieving concrete customer benefits.
• Banks should rethink their competitive strategies, whether cooperating with competitors or trying to prevent their emergence.
• Finally, banks should consider extending their brand beyond their regular service. UBS's initiatives, such as innovating the home-buying process, show how banks can enter new markets and business areas.

Launching a Digital Bank - Practical Case of Raiffeisen Digital Bank

The presentation by Alexey Kapustin , CEO of Raiffeisen Digital Bank , was focused on the practical experience of launching a digital bank:

• It is necessary to look for new customers rather than spend extra time transferring existing customers from traditional banks.
• The 40x increase in weekend traffic was made possible by utilising the AWS cloud.
• Digital banking is purely about virtual cards and automating all processes (e.g. loan applications) without human intervention.
• Achieving an 8.2% market share in digital lending to new customers in Poland demonstrates the high potential of digital-only strategies.

BLIK - a Huge Success Story for Money Transfer&Payment Service

In conclusion, I will share innovative approaches shared by Magdalena Kubisa from BLIK .

BLIK is effectively integrated into mobile banking applications, providing over 50% of all mobile banking transactions in Poland.?

It is not just a payment instrument but also a legal framework.?

The introduction of NFC has made contactless payments possible worldwide. At the same time, P2P payments are growing the fastest.?

BLIK's NPS score of 61 is comparable to Apple's. By the way, the benchmark of payment systems usually fluctuates between 21 and 34.

BLIK plans to expand into Slovakia, Romania, and the Eurozone in general, despite difficulties with legal aspects in different countries.

Money20/20?

June 4-6, Amsterdam

A standout feature of the conference was the highly efficient mobile app. It excelled in scheduling appointments and locating people among tens of thousands of participants across eight halls, making networking seamless. My first experience at such an event led to over 20 meetings in just two days!

Key trends:

- Security issues

- Authentication

- Fraud protection

- International transfers and payments

At this conference, I was particularly impressed by how ready everyone was for collaboration. Participants immediately responded to meeting requests and were eager to discuss business opportunities from the very first moment. With tens of thousands of companies attending, the potential for new partnerships is immense.?

I also had the chance to discuss mobile banking customisation with potential partners. While many ready-made solutions exist, the high degree of customisation banks require often outweighs the benefits of these off-the-shelf options.

FinTech & InsurTech Digital Congress

June 14, Warsaw

A unique feature of the congress was the panel discussions, during which organisations openly shared their future vision. However, networking could have been better compared with Money 20/20.?

Some theses caught my attention.?

Toyota Insurance Services Europe - Adam Wandachowicz, Executive MBA , talked about the key trends for next year. The discussion about whether customers are ready to buy tickets or TVs via banking apps also continues - the topic seems to be endless :)

Banks should strive to create ecosystems or platforms to avoid becoming low-margin companies. Various strategies, including embedded finance, also play an essential role. It was exciting to listen to experts from large banks, such as Katarzyna Tomczyk-Czykier from Credit Agricole Bank Polska S.A. , and their views on these issues.

One of the most exciting and relevant topics was the application of AI. At conferences, discussions of AI are often abstract. However, Przemyslaw Koch from VeloBank S.A. presented a practical case study on using a 'hallucination controller' in banking AI. VeloBank has implemented an AI engine that allows the AI's 'hallucination' level to be adjusted from 0 to 10 depending on the request. This allows the AI to effectively interact with customers while ensuring high accuracy in critical banking transactions.

What experiences would I want to repeat

The opening for me is Money20/20. I want to discuss at least a hundred more ideas and be open to more than 20 meetings, so I plan to return next year, possibly with colleagues. This is a first-class event that, in terms of business atmosphere, can compete even with the Mobile World Congress in Barcelona.

LEAP is among the conferences I missed this year and keep in my plans for next year. The global technology fair takes place in Riyadh. The next one is scheduled for February 2025. It is being announced very loudly in the information field. In addition, many of my new business acquaintances from different countries have been there and invited me to see them at LEAP.

I am charged with impressions and inspired by new ideas for the coming year. The summer turned out to be active in terms of communications. What business trips have you been this summer?