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Thredd wraps up at Money20/20 Europe – Amsterdam, 2024.

After a thrilling and hugely successful event, the Thredd team is now brimming with excitement and renewed energy. We had the incredible opportunity to connect with hundreds of leaders, partners, and clients, both existing and potential!

The Thredd team

June 20, 2024

On the Money20/20 Exchange Stage, we proudly announced our exciting new collaboration with Discover Global Network. We spent time with new clients Terrapay, a global leader in money movement. Adding to the excitement, two of our standout team members were chosen for the prestigious Money 20/20 RiseUp & Amplify programmes. 

Key takeaways 

The event spotlighted several transformative themes in the financial industry, reflecting the evolving landscape of fintech, payments, and artificial intelligence. 

Payments are pivotal to hyper-personalisation and embedded finance. 

A significant focus was on hyper-personalisation, emphasising the need for financial services to tailor their offerings more closely to individual consumer needs, specifically in payments. This trend dovetails with the concept of embedded finance, where financial services are integrated into non-financial platforms to provide seamless customer experiences. This integration aims to enhance personalisation in areas such as wealth management and B2B lending through partnerships and data-driven insights.  

Alternative payments and regulatory changes. 

The event featured extensive discussions on the future of payments, particularly in the context of new regulations like the Payment Services Directive 3 (PSD3). There was a notable emphasis on alternative payment methods, including the use of blockchain technology and digital currencies. Experts discussed the adoption of central bank digital currencies (CBDCs) and stablecoins, highlighting their potential to transform cross-border payments by making them faster and more secure. 

Using AI to combat fraud. 

Artificial intelligence (AI) was a pervasive theme, reflecting its growing influence in the financial sector. Discussions covered various applications of AI, from fraud detection and prevention to investment management and customer service. There were significant concerns about security threats posed by AI technologies and the competitive dynamics they introduce, especially with tech giants entering the fintech space. Sessions explored how AI can be leveraged to improve operational efficiency and enhance customer experiences.  

Sustainable finance and ESG – regulations, when not if.  

Sustainability emerged as a critical theme. Participants discussed how financial institutions can contribute to environmental and social goals through sustainable finance practices. This included integrating environmental, social, and governance (ESG) criteria into investment strategies and exploring new financial products that support sustainability objectives. As of now, ESG reporting, and disclosure are not mandatory yet more and more businesses are voluntarily choosing to disclose this information. What stands out is that those who voluntarily provide this information will fare better when regulation does become mandatory. 

Cross-border instant payments. 

Another hot topic was the improvement of cross-border payment systems, which remain slow and costly, particularly for businesses. Technology advancements, especially relating to data and APIs, can lower the cost of remittances and increase access. The integration of instant payment solutions and the potential use of digital currencies to facilitate quicker, more transparent transactions were also highlighted as significant advancements. The discussions underscored the importance of regulatory frameworks in standardizing these innovations across Europe to optimise liquidity and cash management for businesses. 

Banking; open finance a pathway to true customer-centricity. 

The conference underscored the ongoing transformation in banking, driven by the need to adapt to digital advancements and changing customer expectations. Banks are focused on creating deeper, personalised relationships with their customers, leveraging technology to enhance user experiences and streamline operations. This customer-centric approach is seen as essential for banks to remain competitive and relevant in a rapidly evolving market. Open finance also was noted as essential for achieving genuine customer-centricity, which is increasingly mandated by regulations such as Consumer Duty. 

Money20/20 Europe 2024 showcased how the convergence of technology and finance is shaping the future of the industry. From hyper-personalisation and embedded finance to AI and sustainable practices, the event highlighted the innovative strides and regulatory challenges that define the current financial ecosystem. 

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