Shaping the Future of Banking: Highlights from Berlin FintechWorld24
500 people from the entire?banking?and?financial services industry?came together at FintechWorld 24 to exchange ideas and network on current trends and services.
The event covered a wide range of topics, from AI and cybersecurity to green IT and crypto, and provided an excellent opportunity to exchange views on the latest trends and innovations. It was inspiring to see and discuss the many different approaches and solutions within the industry.?
I had the pleasure in meeting and sharing insight with many people and feel thankful to now be part of this great community. Noteworthy topics included Customer Experience, Digital Identity and Embedded Payments.
1. Customer Experience Customer experience refers to the overall impression and interaction a user has with digital products, services, or platforms. It encompasses every touchpoint and interaction between a user and a digital interface, including websites, mobile apps, social media platforms, and other digital channels. This helps organizations jumpstart their digital transformation and improve customer experiences with an omnichannel modernization strategy that attracts, retains and improves advocacy.
2. Digital Identity Nothing's more important than protecting your customers from fraud and identity theft. In today's digital age, many services, such as banking, healthcare, and education are accessed online. A reliable digital identity is necessary to authenticate users and grant them access to these services securely. Digital customer onboarding simplifies and expedites the process through digital channels. It ensures a seamless and paperless experience for new customers, making it faster and more convenient to open accounts and access financial services.
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3. Embedded Payments Embedded payments are enabling businesses to offer financial services within their platforms. They integrate the transaction directly into applications or websites. This significantly simplifies the payment process itself, as users typically don't have to switch to another page or use an external payment gateway. When banks and fintech companies implement instant payments and PSD2/3 open-API payment gateways that allow the merchants to offer payments directly within their own software or platform. Embedded payments eliminate the need for customers to leave the merchant's site or app to complete a payment, which can improve the checkout experience and boost conversion rates.
I look back positively on the FintechWorld 24 event and I’m excited about the opportunities that arise from the newly established contacts and insights gained. Here's to another year of innovation and collaboration in the fintech industry!?
Again, thanks to everyone that present, you rocked ?? the event. The Fintechworld25 date has already been set: 19/20 March next year.
By Mike Crosby , Director Business Development at Qinshift
Thank you for the nice review and feedback ??
Business Consultant at Qinshift/Avenga. Focus on Banking and Real Estate. Passionate about digital transformation and data-driven business solutions. CX and customer journeys. Prosci? Certified Change Practitioner.
8 个月Thank you Mike Crosby for your insights from FintechWorld 24. I see a common thread between your three examples and that is how important the customer journey is to the fintech industry. Through the customer journey, it is important to understand the demands the customers have on their overall experience, as well as the importancy of gaining the customers' trust in the digital identity process and the necessity of customers being able to make easy payments to boost the usage of that particular payment method. You don't want to loose the transaction in favor of another, more customer friendly, payment option.