Top 8 Insights for Banks at LendIt Fintech Europe 2017

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bank insights
Last October, more than 1,000 lending and fintech professionals attended LendIt Fintech Europe to learn, network and do business. Thirteen percent of these attendees were from banks, including senior executives from Barclays, Deutsche Bank, Santander and many more.

Banks are aggressively moving into the digital age to stay relevant, and with a track dedicated to the future of banking, banks attend LendIt Fintech Europe to explore issues such as the impact of open banking, mobile banking strategies, and fintech partnerships.

LendIt Fintech Europe is taking place in London on November 19-20. Download the attendee brochure here for more information.

Whilst we gear up towards the event in November, we’ve put together this selection of presentations from the 2017 event that provide valuable insights for banks. We hope it whets your appetite for the upcoming 2018 edition!

Transparency and Responsibility in Banking – the New Model in Financial Services

In February 2017, Nick Ogden launched the first purpose built clearing bank in over 250 years, and the first ever to be built from the ground up on purpose-built, cloud-based technology. In this presentation, he looks at the history of financial services, and provides an overview of how ClearBank invented a new service model to engage with their customers. Nick believes that the next few years within the world of financial services will be fascinating – if you want to hear more about Nick’s future view on financial services, watch his presentation here.

The Open Banking Revolution

In this keynote, Imran Gulamhuseinwala OBE, Trustee of the Open Banking Implementation Entity (OBIE) and Global Head of FinTech at EY, explores the opportunities and challenges presented by open banking — both for traditional banks and new market entrants. During his session, he suggests that open banking has the potential to open up a lot of creativity and innovation around financial services. He adds that open banking gives people control over their finances, and has the ability to digitise financial services. Looking at the UK as a case study, Imran explains the structure of the OBIE, and concludes by examining the core issues of consumer safety and security. To learn more about this topic, watch the presentation here.

Next Generation Banking: Starting with the Customer

In November 2016, Zopa announced its intention to build a next generation bank. In this keynote, Zopa’s CEO, Jaidev Janardana, suggests that the customer has three expectations of their financial services provider – fairness, an intuitive experience, and security – and that these expectations are best met by a next generation banking model that starts with the customer. Jaidev goes on to look at the capabilities it requires to create a bank of that nature. If you want to learn more about creating a digital financial services product with a compelling customer experience, then watch the presentation here.

How Big Banks Are Approaching the New Connected World

Big banks are operating in a very different world than it was just 10 years ago. Branches are closing and their customer demographic is changing. For example, the number of branch visits in the UK fell from 476m in 2011 to 278m in 2016, and in the same time period mobile banking logins increased from 169m to 1191m. In this panel discussion, Gilad Amir (Lloyds Banking Group), Benoit Legrand (ING), Gustavo Vinacua (BBVA), Raman Bhatia (HSBC), Kirsty Rutter (Barclays), and moderator Janine Hirt (Innovate Finance) discuss how banks are preparing for this future. They touch upon collaboration between banks and fintechs, and examine the likely outcomes of PSD2. Watch the panel discussion here.

What is a Bank in the Age of Open Banking?

With the recent implementation of PSD2 and the arrival of open banking in Europe, consumers have been given more control over their data than ever before. With this new leveling of the playing field, who will win the consumers’ loyalty? What does it mean to be a bank in this new age? Just a couple of short months’ prior to PSD2’s arrival, Matthew Ford (Pariti), Tamaz Georgadze (Raisin), Max von Bismarck (Deposit Solutions), Louise Beaumont (Open Bank Working Group), and moderator David Stevenson (AltFi) explored what Stevenson described as the “disruptive potential” of this new banking age. View the panel discussion here and let us know if you think some of the possibilities they flagged have come to pass since PSD2 was implemented.

Will Fintech Partnerships be the Future of Banking?

With small businesses so critical to future economic growth, one would think that it would be relatively straightforward for these businesses to secure the capital that they need to grow. In fact the opposite is true. In this presentation, Christoph Rieche from iwoca, and George Bevis from Tide, explain how and why they teamed up to remove these barriers, enabling funding to small businesses in less than 10 minutes. This is a ground-breaking partnership between a fintech company and a next generation banking service, and as Bevis states it is arguably the “fastest mechanism to access business finance anywhere in the world.” To learn more, view the presentation here.

The Rebundling of Banking by Non-Banks

In the early days of fintech. innovative companies successfully mastered specific niches within banking, typically offering only one or two services, but doing them really well. Fast forward to today where a trend towards an aggregation or bundling of services has allowed non-banks to bring together many services into one customer experience. Join Nick Harding (Lending Works), Chad West (Revolut), Jasper Martens (PensionBee), Oli West (Trussle), and moderator Mike Baliman (London Fintech Podcast) as they explore this new trend, and what it means for the industry. View the panel discussion here.

Digital Banking – Changing the Consumer Experience and Creating a New Ecosystem

According to recent RFI research, the digital channel has overtaken the branch as the the number one customer preference for the uptake of lending products globally. In this era of digital banking, where is innovation headed for the consumer, and how will this impact their experience? Join Nick Bennett (Tandem Bank), Daniel Kjellén (Tink), Auke Veenstra (Cloud Lending Solutions), Justin Hannemann (Santander UK), and moderator Sarah Hollinshead (RFI Group) as they explore this hot topic. View the presentation here.

The Future of Banking track at LendIt Fintech Europe 2018 will provide invaluable updates on these topics, as well as exploring many new challenges and opportunities in this new era of digital banking – register now or download the attendee brochure for more information.

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