#Money2020 Europe – Key Observations:
By Adrian Hausser – CEO, PayX Group
- Banks are now turning en mass to full on engagements to partnering with fintechs – big question is which fintechs?
- Open banking/PSD2 was described on stage by one related association as “a fiasco”!
- Exhibitor floor seemed to have about 70% new company names from last year, interestingly many new ones last year weren’t there this year, so I guess that begs the question how many will exist in a few years from now? The money flowing seems very large, but out in the industry the traction with new names seems very different.
- Asia has landed – delegates and companies present from Asia plus many stage sessions focused on the platform darlings from China and Asia generally who have mass success, scale and acceleration.
- The top banks essentially confirmed the direction is correct but the big problems haven’t been solved yet; indeed in many cases this is the tip of the iceberg – changing culture being a common key hurdle
Interesting times, huge opportunities and threats and loads to do!