FINTECH FOCUS: M20/20 Quick off the mark: A McLaren F1 car at Railsbank's Money 20/20 exhibition stand
Good to be back: The Finte ch Finance te am
RACING TOWARDS THE NEW NORMAL After a pandemic-enforced move to online last year, Money20/20’s long run of successful crowd-pulling shows made a triumphal return to Amsterdam in September, to facilitate fintech industry’s connections, conversations, innovations and deals. The Fintech Finance team was glad to be back and on the ground – running, as usual! Here, James Tall records some of our observations and favourite moments from what was the comeback of the year! Last month’s Money20/20 Europe e vent in Amsterdam was the first large-scale industry conference to be held in-person following the COVID-19 pandemic. There was a palpable buzz around the lively Dutch capital as more than 4,000 attendees and 1,500 companies from 76 countries arrived in the city to reconnect. And people were keen to make up for lost time, with more than 7,000 1-2-1 meetings booked in. As Money20/20’s
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president, Tracey Davies, exclaimed: “We love digital, but you cannot beat real life!”
A REFRESHED FORMAT Following a forced but fruitful transition to the virtual, interactive MoneyFest platform last year, Money20/20’s strategy and growth officer Scarlett Sieber lauded the ‘brilliant minds of the European content team’ for taking a radical new approach for 2021. The conference set-up moved away from keynotes and towards a much more inclusive forum, with attendees encouraged to join in – and even lead – sessions. It was an impressive sight, with stages primed for open conversation and a more interactive feel. The floor plan was designed with sweeping walkways and large spaces to make sure things were COVID-secure, yet collaborative. “Normally, what’s disruptive about Money20/20 is the fact we’re talking about electronification, about digital,” said Sanjib Kalita, editor-in-chief, Money20/20. The most disruptive thing this year was that we were live and in-person; just the fact we were in a room felt crazy! But it’s good to hear the crowd react to things, which guides you in more ways than you would expect.” The new set-up still managed to deliver its usual stellar line-up of brands and industry leaders, covering the hottest topics reshaping financial services.
Speakers talked attendees through a host of visual sessions that explored the fundamental market shifts and trends that are now characterising financial services, whether COVID-induced, existing or new.
DIGITAL ASSETS MARCH ON At times, it felt like cryptocurrencies and central bank digital currencies (CBDCs) dominated the dialogue. But then, whether it’s Bitcoin’s record price highs or the adoption of it as legal tender in El Salvador, these digital assets have been making headlines. Coinbase’s Marcus Hughes was quick to emphasise crypto’s role in driving financial inclusion, pointing out there’s a place for many different types of products and services in the ecosystem. “Crypto can empower access to financial services for people who would otherwise never have the possibility to get a bank account,” he said, “through simply downloading an app onto their smartphone, to be able to buy and sell.” Marion Laboure, of Deutsche Bank, accepted the truth in this, but pressed the role of regulation in ensuring the currency and operators’ accountability. “We definitely need regulation in places where we are seeing more and more people investing in risky assets such as www.fintechf.com