On 16-17th of May 2019 in the beautiful Melia Vienna Hotel, the 3rd annual Digital Payments Forum gathered the crème de la crème of the banking and fintech brands in Europe.
Participants explored the ultimate trends in the Digital Age, the next big breakthrough that should be expected from the fintech world, while meeting the brilliant minds of the industry and expanding their business networks.
The scope of the conference was highly interactive, enabling the attendees to actively take part in the discussions.
In the first morning session of Day I the participants learned the impact that PSD2 has on the banking sector. The panel discussion dedicated to the aftermath of the PSD2 gave light to the question whether banks have adopted to a customer-centric environment. The scope of the panel, as well as the entire conference, was highly interactive, enabling the attendees to actively take part in the discussions.
The second session placed The Customer at the heart of digital transformation. We learned that customers like to get the same service abroad as they have at home; learned the pitfalls, opportunities and challenges of digitalization, heard what does customer-centric mean and how customer centricity impacts the digital payments.
After the lunch break the conference chairman Demetrio Migliorati informed us that the 73% of the so-called Millennials are willing to pay extra for one thing: sustainability. He also concluded that the problem for bigger inclusion of blockchain in our everyday’s banking is the immature technology.
He was followed by Ms. Petia Niederländer who pointed out that we are wasting 15 mins per day for making payments (3 min per transaction), and concluded that we cannot achieve success without cooperation with other banks.
By the end of the day we saw the nightmare of a cattle taking over our lives, the power of a button and learned of smart trash cans.
Our guest from Budapest Bank Mr. Gyula Szegedi concluded et the end of the day that we still havent heard of a fully developed PSD2 Open API’s echo system.
Session V was dedicated to the payment disruptors.The German expert Panagiotis Kriaris said that 1/3rd of all new revenue is captured by new players in the banking sector and thus the API is becoming a product, a commodity.
We heard the successful stories of Monese and Starling Bank which explained why traditional banks are holding people back. The noted that the question is not “Will chalenger banks survive?” but rather “Who will succeed?”.
Session VI, after the morning coffee break revealed the latest trends and the next gen solutions in banking and in payments. We heard that industry is heading towards mobile wallets, omnichannel experience, biometric payments, cooperation between fintechs and incumbents, use of AI and machine learning in banking, cross border and real time payments (cross border payments projected to exceed $30 bln. In 2022)
Our guest from ČSOB Mr. Tomáš Stegura presented how to sell anything without paper, noting in the process that getting rid of paper is quite profitable, and Mr. Dragos Mindreci from Oney Bank said that we waste 45 seconds when paying with a classic credit card (with chip and pin), 25 seconds when using contactless card and only 3 seconds when using the fingerprint as a payment method.
The day (and the forum) ended examining the cyber risks that the new modern technologies bring, we learned the difference between incident and a breach and heard what are the new approaches in fraud detection and prevention.
EuroEvents Market Research Institute would like to thank all of our speakers, partners, sponsors and everybody else involved in the development of this event. We hope that you left Vienna inspired, richer for experience and new ideas which will add value to your organization.
A special thanks goes to our conference chairman, Mr. Demetrio Migliorati who fitted perfectly into the role and gave the entire event a specific (Italian) tone.
For more pictures of the DPF2019 please visit https://flic.kr/s/aHsmcvCFFx