This month the Acquired.com team took on Money20/20 Europe, the industry’s biggest event of the year. After three days of networking, panel sessions, and team-building, there were some key takeaways that were clearly on everyone’s mind at this year’s event. Hear from the Acquired.com team on Generative AI, the importance of the onboarding process, and the value of key industry events like Money20/20.
Innovative Technology: Open Banking and AI are the hot topics
It’s certainly an exciting time for the FinTech world, and the voices at Money20/20 this month in Amsterdam agreed. 2024 is set to be a pivotal year for the likes of Generative AI and Open Banking, enabling innovative and personalised solutions that are shaping the future of finance.
The conversations at this year’s event showcased the many potential use cases for AI. These included how AI can drive financial inclusion as well as business processes by automating decision-making and using data more effectively.
Pay by Bank also remained a hot topic on everyone’s mind. It seems adoption is finally gaining some traction and the right use cases are being identified. This, coupled with the desire to shift to cheaper and quicker ways to process payments, made me feel that Open Banking could be about to fulfill the potential that many believe it has within payments.
– Greg Cox, Co-Founder and CEO
Innovation and Collaboration: AI is the key
Money2020 2024 was exceptionally well-attended and larger in scale compared to the past three years. It showcased a strong commitment from companies, highlighting a genuine spirit of collaboration and innovation. This year, AI emerged as the predominant topic, overshadowing previous years’ focus on Crypto and Open Banking.
The event saw a significant presence from the investment community, with considerable attention given to onboarding, Know Your Customer (KYC), and Anti-Money Laundering (AML) processes.
There was good footfall at the stands, attracting varied interests from onboarding companies, data businesses, marketing SEO specialists, high-risk providers, old friends, and colleagues, as well as existing and new vendors.
– Mark Johnson, Commercial Director
Fighting Fire With Fire: Using AI to tackle fraud
The use of Generative AI to produce video, audio, and images is well publicised, but one of the key takeaways from Money20/20 for me is that the fightback is well and truly underway. The conversations during the event made it clear that the industry is taking a fight-fire-with-fire approach. Hearing that 20% of fraudulent ID document attempts this year used Generative AI starts putting into perspective the challenge the industry is up against.
We are consistently looking to make the onboarding process faster and easier for our customers, with so many looking for auto onboarding as the ultimate goal. The message from the event was clear this year, Human x Machine has to be the way forward.
– Dwayne Pringle, Partnership Vendor Manager
Bringing Your A-Game to Events: Showcasing the brand
Launching our new branding at Money20/20 was a strategic move to maximise exposure and strengthen key relationships. Leveraging the event to its fullest, we showcased our solution for powering recurring commerce, we hosted a unique exclusive event, and collected insightful footage from our community.
Money20/20 offers a great opportunity for learning, building relationships, and winning business. However, preparation and bringing your A-game are essential to stand out and maximise the event. The feedback and learning experience was incredible. We can’t wait to build on this for next year.
– Anna Chandler, Fractional Marketing Director
Streamlining Onboarding: The future of customer satisfaction
Many platforms are now focusing on streamlining the onboarding process by integrating advanced verification tools. These tools aim to expedite user authentication while maintaining high-security standards, thus reducing the time and effort required for new customers to start using services.
Verification tools are leveraging technologies such as artificial intelligence, machine learning, and biometrics to quickly and accurately confirm identities. This not only accelerates the onboarding process but also enhances security by minimizing the risk of fraud.
The consensus at Money20/20 was clear: effective onboarding is crucial for customer satisfaction and retention. As more platforms adopt these cutting-edge solutions, the future points towards faster, more reliable, and user-friendly onboarding experiences. This trend is set to redefine how businesses engage with their customers from the very first interaction.
– Justin Hanna, Head of Direct Sales
Generative AI Technology: Speeding up real-time decisioning
AI was undoubtedly the buzzword of Money 20/20 2024, with a real focus on how AI can speed up real-time decisioning for businesses via a whole host of new technologies. Open banking discussions were present again this year, but they definitely felt in decline versus the open banking overload of the 2023 event.
The bringing together of minds from across the payments ecosystem generates such insightful topics of conversation and it is without doubt one of the best events of the year for partnerships professionals in payments. The mixture of content and meetings is well-rounded and leads to a nice mix of education and prospecting.
– Grant Evans, Head of Partnerships
Networking and New Connections: Money20/20 as a melting pot for payments collaborations
What an event! One that the team and I have been looking forward to for months. It was great to finally make it over to Amsterdam to meet and connect with the industry and like-minded individuals.
Money2020 brought a vibrant and dynamic atmosphere with so many great opportunities. The diverse range of speakers and sessions provided an understanding of current trends and future directions within the financial technology sector. Structured networking sessions and informal meetups were instrumental in forming new connections and strengthening existing ones.
A significant highlight was our co-hosted dinner on the canal boat Adeline, with Railsr hosted by SOUS. This event featured a one-of-a-kind dining experience and provided a unique setting for networking, thanks to all who joined us. Overall, Money20/20 not only lived up to its reputation but also significantly enriched our knowledge and network, laying a strong foundation for future collaborations and strategic initiatives.
– Jess Dooley, Events Executive
Expert Insights: Knowledge sharing with the best of the best
As a payments marketer, events like Money20/20 are crucial for keeping up with the industry and making the right connections.
This year’s event was a fantastic display of knowledge sharing, allowing all functions of the team to learn more about AI, Open Banking, data-driven technology – the list goes on! The highlight for me was definitely having the opportunity to surround myself with such fantastic industry experts.
– Bethany Goodman, Digital Marketing Executive
Amplifying Brands with Content: Podcasts, videos and interviews
One of the most significant missed opportunities for companies at events like Money2020 is leveraging their digital presence through strategic content creation. Given the extensive investment in such events, it’s imperative to maximise returns by producing diverse and engaging content.
By creating podcasts, conducting customer interviews, producing partner videos, and connecting with industry thought leaders, companies can significantly enhance their reach and engagement. This approach not only amplifies brand visibility but also positions the company as an industry leader, fostering deeper connections with the audience and setting the stage for continued influence in the fintech space.
– George Boot, Demand Generation Manager
And that’s a wrap!
Once again Money20/20 lived up to its reputation of being the biggest and best payment event of the year, providing an invaluable platform for showcasing the latest advancements and trends in the financial industry.
The event highlighted how AI is transforming the financial sector, enabling personalised customer experiences, risk management, and fraud prevention. It also underscored the significant disruptions taking place in the Open Banking space.
The event has been an outstanding experience for Team Acquired.com and we can’t wait to keep pushing the boundaries of innovation at events like Money20/20.
