The team of 42flows.tech has visited Money 20/20 Europe (June 7 – 9), one of the most influential fintech events of the year. The organizers describe it as a place, “where money meets technology”.
The statistics of Money 20/20 speak for itself:
We visited numerous sessions and participated in dozens of meaningful conversations that inspire ideas and trigger innovations. We believe that such events give the possibility to companies to shine bright, reaching the relevant audience and revolutionizing the payments, fintech, and financial services industry.
Among the main speakers of Money 20/20 it is necessary to mention:
The evolution of payment experience has made the customers wish to have comfortable methods of payment, wherever they are: in the bus, in the office, on the street, in the university, at the hospital, in the bar, and maybe even on the desert island. The market adapts to such demand, forcing the business to transform and satisfy the needs of the customer. Adding the new features or expanding own services means the need for integration. According to statistics, the average large financial organization has 976 different individual applications (including, cloud, finance, marketing, mobile, enterprise, and others) that are in use within the organization. Making them work smoothly altogether and unlocking value from existing data is truly an art, and only those who embrace it would gain a competitive advantage and outperform other businesses. The statistics also prove the rise of the orchestration layer.
11% of Visa transaction is still failing, which could be avoided by good process orchestration.
82% of businesses do not provide a connected user experience across channels.
60% of organizations report challenges to introduce new technologies because of problems with the integration of IT infrastructure.
26% of businesses consider integration as one of the top ten business challenges for digital transformation.
84% of businesses consider the integration of API to be very critical to the business strategy.
The level of orchestration and integration is the least noticeable, but at the same time it is the most interesting. Since today’s payment industry is highly modular and engages many components and suppliers, it needs a process orchestrator to implement the right solutions quickly and efficiently. Integration of APIs can significantly improve business performance and drive positive business outcomes. At the same time, the cost of failure to complete the digital transformation is very high and could reach on average up to $7,647, 629. The easiest way to describe the impact of an integration strategy on the organization is to demand what the business wouldn’t be able to do without API integrations. The well-done orchestration can help the company to achieve the set results and business outcomes faster and better.
Need help with integration or process orchestration? Contact us at: firstname.lastname@example.org. We are ready to help!
Embedded finance is already changing the global financial market and the rules by which it operates, as any company today can become a bank. The number of fintech companies that provide embedded finance services is constantly growing, and the competition in the market is now very strong. Therefore, no wonder that according to statistics, in ten years from now the embedded finance market will value 7.2 trillion US dollars. Currently, the most famous players in the market are Amazon, Samsung, Google, Uber, and Tesla. However, it is also necessary to mention:
Just think of it, even the furniture store IKEA and the coffee chain Starbucks already have their own payment systems. Maybe it’s time for your business to think about an embedded finance solution? Contact us and we will help you to choose the best fitting solution for your business: email@example.com
Today, the banking industry is trying to digitalize everything. Only the lazy and short-sighted are not digitalized. Just look at the statistics:
There is a lot of other statistical information available and it all shows that digitalization today is the main driver of the banking system.
Interested in digital banking solutions? Contact us at firstname.lastname@example.org and we will help you to choose the solution that suits your business needs the best.
There are many different interesting fintech events in Europe, but in our opinion Money 20/20 is the best, since it provides a great opportunity to communicate with the drivers of the fintech industry and develop new strategic partnerships. If you missed this year’s exhibition, be sure to try to get to it next year. You will not regret!
You are also welcome to read other articles of our blog. You will discover the latest news of our company there.
42flows.tech have announced the strategic partnership with Regula to develop the next-gen digital solutions together while satisfying better clients’ needs.
42flows.tech Announces Partnership with Hawk AI to Help Neobanks Make Smoother Integrations.
42flows.tech is partnering with Ondato to make future fintech solutions more available and safer thanks to efficient KYC and AML processes and fast digital ID verification.
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