With our rich experience in digital transformation for leading banks and finance industry blue-chips, we're ready to connect at Money 20/20 in...
Our Top 10 Takeaways from Money 20/20 so far
Explore our Top 10 Takeaways from Money 20/20 on Day 1. Uncover trends shaping the future of finance, from AI to sustainable finance, and more.
It’s only Day One at Money 20/20, and already it’s clear: we’re not just attending an event, we’re part of a revolution! The atmosphere is electric as innovators, financiers, and tech-enthusiasts gather to reimagine the future of finance and marvel at the transformative power of digitalisation in the financial sector. At Red Badger, we’ve hit the ground running, with Commercial Director John Godfrey and I already soaking up the buzz and engaging in enlightening conversations, exploring groundbreaking trends, and sparking collaborations that promise a brighter future for finance.
Top 10 takeaways from Money 20/20:
With two more exciting days to come, this gathering is already reinforcing the fact that technology is the linchpin of enterprise success in the finance space. It has been invigorating to see how themes closely aligned with Red Badger’s ethos - digital transformation, customer-centric approaches, AI, FinTech, and more - are dominating the event, but here are our top 10 takeaways from the show so far.
1) AI is the talk of the town
Unsurprisingly, the role of AI and Machine Learning has dominated the event and has appeared in some form or other in all of the talks. In particular, AI’s capacity to streamline operations and offer personalised customer experience isn't just a concept anymore – it's a reality that's reshaping the industry, one algorithm at a time.
2) Humans still have a key role to play
Phew! Amidst all the tech chatter, the intrinsic role of humans stood out. The role of humans was summed up perfectly by Ian Stuart, CEO of HSBC UK who said that HSBC’s plans were to “let the AI do the ordinary and let humans do the extraordinary”. It's a timely reminder that technology is a tool, but human creativity and empathy remain indispensable.
3) Personalisation will become all about conversational experiences
AI isn't just improving personalisation – it's revolutionising it. Picture this: AI that offers holistic financial advice like, “Based on your finances, when is the right time for you to buy your next car?” These conversational experiences are set to become the norm.
4) Customer-centricity is key
Many discussions revolved around the pivotal role of technology in enhancing customer experience. The goal? To simplify, humanise, and make financial services more accessible and efficient.
5) Digital currencies will be important but their role is still not 100% defined
The big banks unanimously acknowledged the potential of digital currencies in shaping the future of finance. However, there's still much to explore and define when it comes to their role in the ecosystem.
6) Challenger banks have been the wake-up call!
Challenger banks have made the finance sector sit up and take notice. Their disruptive influence has pushed legacy banks to evolve rapidly, leading to a more dynamic, innovative, and customer-focused sector.
7) Sustainable Finance: Green is the new Gold
Sustainability is increasingly important within the finance sector. We saw numerous discussions around ‘green finance’, including investing in environmentally-friendly projects and integrating ESG factors into financial decision-making. The finance world is realising that investing in the environment is investing in the future.
8) The Power of Collaboration
The importance of partnerships and collaborations was a key message from the event. Enhancing the digital capabilities of traditional financial institutions is an absolute must, and this echoes our work at Red Badger with giants like JP Morgan Chase, Santander and HSBC, proving the transformative power of partnerships.
With increased digitalisation comes the heightened need for robust data security and privacy measures. Several presentations explored novel ways to ensure customer data protection while maintaining transparency.
10) Financial Inclusion
Technology can play a pivotal role in making financial services accessible to underserved communities. The buzz around leveraging technology to promote financial inclusion is a testament to the industry's commitment to making finance a universal right.
So far, Money 20/20 has been a brilliant showcase of the transformative power of technology in the finance space. As we look to the future, it’s clear that these trends will be crucial for enterprise success. At Red Badger, we’re excited to bring our expertise and innovative approach to the table, contributing to the transformation of the finance industry.
If you're attending Money 20/20 this year too, and would like to catch up with us during the event, use the Money 20/20 Connect App to book some time and see what evening events and activities we're planning to enjoy!
We're running an exclusive breakfast event at The Ivy in London on 27th June with some fantastic speakers who are experts in AI, and who will be exploring the best approaches big brands can leverage to get the most value from customer engagements, to drive revenues and improve user engagement and loyalty. To register for a ticket, visit our event page.