Beyond Trendy: Fintech Themes at FinovateFall

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Now we have 70+ demo corporations at this yr’s FinovateFall occasion, happening September 13 by 15 on-line and in-person in New York Metropolis. These demos, mixed with a full lineup of keynotes and panel discussions, will convey all kinds of themes. To get an concept of what’s trending this yr, we’re having a look on the key themes repeated all through each the demos and the discussions.

For the demos, we’ve distilled the themes into 5 main classes, as outlined under.

Knowledge

Right this moment’s knowledge discussions transcend the conversations of Huge Knowledge that had been en vogue in 2015. This yr, knowledge is in all places; it touches all the things. Firms shall be how they may also help collect, clear, and analyze knowledge; how they will place the client in command of their very own knowledge whereas permitting the agency to leverage client knowledge; and the way they will collaborate with others round knowledge. They may even be discussing particular use circumstances comparable to receipt knowledge and pulling knowledge from paper paperwork. At this yr’s occasion, seemingly all the things is data-driven.

Fraud prevention & compliance

We are able to count on to see options to forestall monetary crime at just about each occasion. Fraud is ubiquitous in monetary providers as a result of dangerous actors constantly profit from it. This fintech sub-sector is repeatedly evolving as hackers grow to be an increasing number of crafty. And this yr, we’ve observed the addition of extra compliance instruments to help with laws and audits round fraud.

Digital assistant

With the Delta variant in full pressure, we nonetheless haven’t entered a post-COVID world. On condition that our social distancing habits should persist, corporations are investing extra power in creating digital assistants. Regardless of how it’s possible you’ll really feel about chatbots, they’ve confirmed to be a viable method to talk with shoppers when in particular person discussions are now not an possibility. And this theme goes past chatbots. Digital assistants together with AI-powered name facilities and automatic buyer interactions of every kind are rising as much as assist take the burden off of customer support brokers throughout a time when in-branch conversations should not potential.

Buyer engagement

One other byproduct of COVID’s aftermath, buyer engagement applied sciences proceed to be front-and-center on the minds of banks, fintechs, and (after all) shoppers alike. As a result of a lot of our lives at the moment takes place on-line, clients now count on an interesting, personalised buyer expertise.

One of many methods monetary companies are tackling this problem is by making a gamified person expertise. By taking wha usually is considered as a chore and making it into one thing enjoyable, clients are extra doubtless to make use of and return to an app or an internet expertise.

One other key to buyer engagement is, after all, personalization. By leveraging knowledge to middle the person expertise across the buyer’s wants, fintechs and banks can guarantee to captivate their current consumer base and reign in new ones.

Monetary planning and investing

The roboadvisor craze of 2015 has matured, and has left various highly effective fintechs in its wake. That is due to elevated reputation mixed with enabling applied sciences of the brand new decade. In contrast to the primary wave of roboadvisory instruments, right now’s choices are likely to take a extra holistic and personalised strategy. At this yr’s occasion, we’ll see instruments that take a look at shoppers’ monetary wellness as a complete, not simply their retirement financial savings.

One other distinction from early wealthtech instruments is that extra of right now’s choices are B2B as a substitute of strictly B2C. At FinovateFall 2021, we’ll see instruments that assist advisors create extra worth for his or her shoppers and merchandise for employers to assist their workforce construct higher monetary well being.

What’s lacking?

Notably absent from this record are two main themes I might have anticipated to see. The primary is Purchase Now, Pay Later (BNPL), the cost know-how that permits clients to pay for purchases in installments after receiving the product. Firms like Afterpay, Affirm, Klarna, and Sezzle have popularized BNPL, and plenty of retailers and cost corporations alike have carried out numerous variations of this mannequin. Given the seemingly viral nature of BNPL, it’s shocking that solely a single demo firm, Zeta, gives BNPL know-how.

The second lacking piece this yr is AI, which has been a prime development for years. So how can discussions of such a pervasive theme be so absent? The reply is within the query; AI is so pervasive that it has now grow to be desk stakes for each fintech sub-sector. In different phrases, AI has blended into the background. If companies wish to compete and provide worthwhile services and products, they have to, at a minimal, be leveraging AI.

FinovateFall gained’t simply be in regards to the demos. Now we have a powerful lineup of keynote audio system, panelists, and hearth chats to share a variety of views on right now’s hottest fintech matters. Whilst you’re on the occasion, maintain a watch out for the next themes:

  • Cybersecurity & monetary crime
  • Neobanks
  • ESG
  • Monetary inclusion
  • Management
  • Automation
  • Open finance
  • Wealth administration
  • Digital transformation
  • Cryptocurrency
  • Sooner funds
  • Buyer expertise

We’re so excited to return to New York this yr! We’ll see you both on-line or in particular person beginning September 13 at 8 a.m. Japanese time and persevering with by the fifteenth. Ebook your tickets right here.


Photograph by Sam Moqadam on Unsplash

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