New Session Announcement: Is the Future of US Payments Instant? Identifying Banking’s Next Big Opportunity
The payments landscape is undergoing a convergence, where the adoption of instant payments is becoming a question of when rather than if. The arrival of FedNow is set to drive innovation across a range of new payment use cases while reimagining older ones. Forward-thinking banks are reevaluating their technology strategies to keep pace with these changing dynamics. By consolidating multiple payment engines, transforming processes, and prioritizing customer experiences, they are taking steps towards transformation. However, the main challenge they face is the hurdle of outdated legacy systems. Join Temenos experts as they explore the changing landscape of faster payments, highlighting the technology that is driving improvements in speed and customer experience for both domestic transactions and cross-border remittances. Learn about the impact of key initiatives like FedNow and Real-Time Payments (RTP), and discover how your bank can capitalize on new opportunities.
Session Announcement: New Panelist Added to the Critical Fintech Concerns for Community Banks & Credit Unions
We are happy to announce that Aleda De Maria, Executive Vice President at PeoplesBank, will be joining us as a panelist for the Critical Fintech Concerns for Community Banks & Credit Unions Panel Discussion!
The U.S. Fintech Symposium will feature a timely and important panel discussion that will focus on the challenges and concerns that community banks and credit unions face in the fintech space. The panel will bring together experts from the banking and fintech industries who will provide their insights and experiences on the most pressing issues impacting community banks and credit unions. Attendees will have the opportunity to hear from industry leaders on how to navigate the ever-changing fintech landscape, including topics such as data security, compliance and customer experience. The panel discussion on "Critical Fintech Concerns for Community Banks & Credit Unions" promises to be an invaluable resource for financial institutions of all sizes. As community banks and credit unions look to stay competitive and meet the evolving needs of their customers, they face a variety of challenges. The panelists will provide their unique perspectives on how to manage these challenges and opportunities, and will discuss strategies for building successful fintech partnerships that can help these institutions thrive in the digital age. Overall, the panel discussion is a must-attend event for anyone interested in the intersection of fintech and community banking. Attendees will gain valuable insights and practical advice from industry experts who have firsthand experience in dealing with the most pressing issues facing community banks and credit unions. This panel discussion is a must-attend event for bankers, fintech executives or other executives that have a general interest in the future of financial services.
TreaSolution is happy to announce that Temenos will be a Platinum Sponsor of the 2023 U.S. Fintech Symposium on May 16th - 18th in Orlando, Florida!
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
Companies around the world rely heavily on documents to store and convey information. This information often needs to be digitized for it to become useful; however, this is usually accomplished through time-intensive, manual processes. This is especially prevalent in the financial sector where many businesses need a paper trail. Using advancements in machine learning and cloud technology, it's possible to automate many of these processes to make them more efficient and scalable. Document Understanding is the study and implementation of AI/ML towards document processing, including Optical Character Recognition, Entity Extraction, Natural Language, Large Language Models, Classification, and Generative AI. In addition, we will discuss Document AI, a platform from Google Cloud that takes unstructured data from documents and transforms it into structured data, making it easier to understand, analyze, and consume.
TreaSolution is happy to announce that Adaptivity will be a Take-a-Break Sponsor of the 2023 U.S. Fintech Symposium on May 16th - 18th in Orlando, Florida!
Adaptivity will be sponsoring a Take-a-Break networking session and speaking at the conference. Also, Adaptivity will be available for 1-on-1 meetings so attendees can learn more about how they help clients continuously adapt and simplify their digital transformation.
Adaptivity is a consulting firm with a deep understanding of how technology enables successful business outcomes. Our team of expert advisors, subject matter experts, coaches and trainers helps organizations increase their impact by developing the capability to continuously adapt in our fast-paced digital world. Our mission is to empower people to design their organizations for greater adaptability and lead them to higher levels of execution.
Change is difficult for many complex organizations, and the vast array of methods, processes, and paradigms available only makes things more complicated. Adaptivity attempts to simplify by tailoring the approaches and experience needed to help our clients to achieve the outcomes they desire – leaving every team and leader far more capable than when they began.
The U.S. Fintech Symposium will feature a timely and important panel discussion that will focus on the challenges and concerns that community banks and credit unions face in the fintech space. The panel will bring together experts from the banking and fintech industries who will provide their insights and experiences on the most pressing issues impacting community banks and credit unions. Attendees will have the opportunity to hear from industry leaders on how to navigate the ever-changing fintech landscape, including topics such as data security, compliance and customer experience.
The panel discussion on "Critical Fintech Concerns for Community Banks & Credit Unions" promises to be an invaluable resource for financial institutions of all sizes. As community banks and credit unions look to stay competitive and meet the evolving needs of their customers, they face a variety of challenges. The panelists will provide their unique perspectives on how to manage these challenges and opportunities, and will discuss strategies for building successful fintech partnerships that can help these institutions thrive in the digital age.
Overall, the panel discussion is a must-attend event for anyone interested in the intersection of fintech and community banking. Attendees will gain valuable insights and practical advice from industry experts who have firsthand experience in dealing with the most pressing issues facing community banks and credit unions. This panel discussion is a must-attend event for bankers, fintech executives or other executives that have a general interest in the future of financial services.
Fintech has led to increased accessibility, affordability, and convenience in financial services. From digital banking to investing and lending, fintech has transformed the way individuals conduct financial transactions, eliminating the need to physically visit traditional financial institutions. Additionally, payment solutions such as mobile wallets and peer-to-peer payment apps have gained popularity due to their secure and cost-effective nature.
An exciting development in fintech is the integration of financial services into non-financial products and services, known as embedded finance. For instance, e-commerce sites can offer financing options at checkout, simplifying the process of acquiring credit. As a result, embedded finance has expanded access to financial services beyond traditional financial institutions.
Fintech companies continuously disrupt traditional financial institutions by introducing innovative business models and technologies. This has caused a fundamental shift in the industry and is expected to further transform finance as technology advances. Consequently, there will be an increase in the number of new products and services, as well as new opportunities to integrate financial services into various sectors.
Through the reduction of barriers to financial transactions and the introduction of innovative solutions, fintech has presented a challenge to traditional financial institutions, prompting them to adapt and incorporate new technologies. It is expected that there will be further advancements as fintech continues to shape the future of finance.
New Session Announcement: Current Challenges in Technology, Compliance & Risk Management Oversight Panel Discussion
The "Current Challenges in Technology, Compliance & Risk Management Oversight" panel discussion will offer timely and valuable insights into the challenges facing organizations today in technology compliance and risk management. The panelists, representing consulting, legal, banking and payments industries, will discuss emerging technologies, the regulatory environment, and the current state of financial services compliance.
The panelists' perspectives are particularly timely given the challenging banking environment, the pace of technological change and the ever-evolving regulatory landscape. With the increasing use of digital payments and the adoption of new technologies, organizations must stay ahead of the curve to ensure they remain compliant with regulations and manage associated risks.
Don't miss this opportunity to hear from industry experts and gain valuable insights into the challenges faced by organizations today in technology compliance and risk management. This panel discussion promises to be an engaging and informative event that attendees will not want to miss.
The fintech industry is constantly evolving and it can be difficult to keep up with the latest trends. As we move into 2023, there are several key areas that are expected to drive significant change and innovation in the world of banking and finance.
These technologies include 1.) the continued growth of open banking and the use of APIs to facilitate data sharing and collaboration, 2.) the increasing popularity of digital payments and mobile banking, 3.) the adoption of artificial intelligence (AI) and machine learning, and 4.) the emergence of blockchain and distributed ledger technology (DLT), and the importance of cybersecurity in protecting against financial threats.
In this article, we will explore each of these trends in more detail and discuss their potential impact on the banking and credit union industry.
Open Banking and APIs: Open banking refers to the practice of banks making their data and infrastructure available to third parties through APIs (application programming interfaces). This allows fintechs and other organizations to build financial products and services on top of the banks' existing platforms.
It is important for banks to familiarize themselves with open banking and APIs due to their potential impact on the financial industry.
There are several benefits to being informed about digital payments and mobile banking for banks.
Listed below are a few reasons why it would be helpful for banks and credit unions to know more about artificial intelligence and machine learning:
Blockchain and distributed ledger technology (DLT) have the potential to revolutionize the financial industry, and it is important for banks to be aware of their capabilities and potential applications.
In today's digital age, cybersecurity is a critical concern for all businesses, including banks. With the increasing prevalence of cyber threats, it is essential for banks to prioritize cybersecurity measures in order to protect their customers' financial information and assets.
In conclusion, the fintech industry is constantly evolving and it is important for businesses and individuals to stay informed about the latest trends. In 2023, we can expect to see significant growth and development in the areas of open banking, APIs, digital payments, mobile banking, AI, machine learning, blockchain, DLT, and cybersecurity.
To stay ahead of the competition, it's important for businesses to keep up with the latest trends and adapt to new technologies as they emerge. Attending the 2023 U.S. Fintech Symposium is one way to stay up-to-date on these technologies and their potential impact on the financial sector. The U.S. Fintech Symposium provides a valuable opportunity to network with industry professionals, learn about the latest trends and developments and gain a better understanding of how these technologies will shape the future of finance.
New Session Announcement: Implementing ZeroTrust for Fintech Operations: A Case Study on Consumer Account Growth
Fintech services are changing the way we all do banking, loans, credit, etc. At the center of this is a LOT of data. Fintech companies are obligated to be good data stewards of consumer data via the applications, software, infrastructure that they develop and maintain as part of their overall business services. Cybersecurity resiliency will be a key factor in ensuring that consumer growth and trust is maintained for fintech organizations. Meet the topic of Zero trust. A healthy topic of discussion within the cybersecurity company and increasingly a hot topic in fintech startups and more mature organizations recognizing that the ecosystem of their product hinges on solid security architecture. Zero trust is a concept that states that trust should be implicit across these product environments but validated and verified and not simply once but all the time. This presentation will focus on presenting a case study within the card industry on how zero trust measures have factored into the cybersecurity resiliency of the company's software development strategy and data security commitment to its customers.
Most Important Points?
1. Fintech services are revolutionizing the way banking, loans, and credit are conducted, and a significant amount of data is at the center of this transformation. Fintech companies have a responsibility to be good data stewards of consumer data through their software, applications, and infrastructure. 2. Cybersecurity resiliency is crucial for fintech organizations to maintain consumer trust and growth. This is becoming an increasingly critical topic in the cybersecurity and fintech industries, with a focus on the concept of zero trust. 3. The presentation will present a case study from the card industry, demonstrating how zero trust measures have contributed to the cybersecurity resiliency of the company's software development strategy and data security commitment to its customers.
We are thrilled to announce that FinTech Magazine has become an official marketing partner of the 2023 U.S. Fintech Symposium. This strategic alliance brings together two of the most innovative and dynamic organizations in the fintech industry to provide you with the latest insights, news and trends.
We are proud to partner with FinTech Magazine and are confident that this collaboration will bring even more excitement and opportunity to the U.S. Fintech Symposium attendees. Keep an eye out for further updates on this exciting partnership!
We are happy to announce that Robert Keil, Chief Fintech Officer at FinWise Bank, will be joining us as a panelist for The Embedded Finance + Fintech Panel.
Join these four fintech industry leaders as they delve into the innovative world of Embedded Finance at the U.S. Fintech Symposium! The Embedded Finance + Fintech panel discussion will explore the integration of financial services into everyday products and applications and discuss the potential for innovation and growth in this growing field.
Panelists will provide insight and perspective on this evolving trend from the benefits and challenges of Embedded Finance for businesses to the impact on consumers and the broader financial landscape. Don't miss this opportunity to gain a deeper understanding of Embedded Finance and its role in shaping the future of finance.
The following is a guest blog post from our Marketing Partner - Fintech Futures!
Welcome to the March edition of the Banking Technology Magazine! (Click here to read the full digital edition.)
Cover story: FACE OFF – Confrontation can be a good thing.
We are entering the spring season with the continuing shake-up across the industry – the buy now, pay later (BNPL) sector is finally put under the regulatory spotlight; the fintech darling Banking-as-a-Service (BaaS) hits rocky ground; redundancies are rife; funding and valuations ruthlessly cut; and lots of fintechs putting up “for sale” signs.
Following the leadership shake-up at FIS and mass layoff announcements, the US banking and payments tech heavyweight has unveiled a $17.6 billion write-down on its Merchant Solutions business and plans to spin it off over the next 12 months.
The business mainly consists of payments software arm Worldpay that FIS acquired four years ago foraround $43 billion. In turn, Worldpay was created through the coming together of paytech titans Vantiv in the US and Worldpay in the UK, in early 2018.
The Worldpay brand will make a comeback, with former Vantiv/Worldpay CEO Charles Drucker taking the reins once more.
Click here to read the full digital edition.
FIS will then be left core banking processing systems business, which makes up around 46% of its revenue, and its capital markets division, which makes up about a quarter of revenues.
Meanwhile, FIS rival and a long-standing player in the fintech space, Finastra, is looking to shed its core banking software business. Similar to FIS, it grew over the years via M&A, hoovering up several banking offerings, including the Phoenix core and Malauzai mobile banking solutions in the US; and Essence and its much older siblings, Equation and Midas (plus the now sunsetted Bankmaster), offered to banks worldwide.
Finastra is reportedly hoping to sell its “universal banking” business, which it’s currently carving out, for as much as $7 billion. It will then be left with treasury and capital markets, payments, and lending businesses.
Whatever comes next, one thing for sure: there won’t be a dull moment in 2023 for the world of fintech, and we will continue to bring you the juiciest stories and the hottest coverage.
Click here to read and download the free digital edition of the Banking Technology Magazine March 2023.
TreaSolution is happy to announce that FinWise Bank will be a Knowledge + Networking Sponsor of the 2023 U.S. Fintech Symposium on May 16th - 18th in Orlando, Florida!
FinWise Bank will be sponsoring a Knowledge + Networking session, speaking at the event and company representatives will be exhibiting so attendees can learn more about their third-party loan origination platforms, proprietary loan analytics technology and Lending as a Service (LaaS) fintech solutions to small businesses and individuals.
About FinWise Bank
FinWise Bank is a top-performing state-chartered community bank headquartered in Murray, Utah. FinWise leverages strategic relationships with third-party loan origination platforms, proprietary loan analytics technology and an experienced leadership team to efficiently deliver innovative Lending as a Service (LaaS) fintech solutions to small businesses and individuals. FinWise is expanding in the broader Banking as a Service (BaaS) space bringing key card, payment and deposit solutions to today’s fintechs.
We are thrilled to announce that Treasury & Risk has become an official marketing partner of the 2023 U.S. Fintech Symposium. This strategic alliance brings together two of the most innovative and dynamic organizations in the fintech and treasury management industry to provide you with the latest insights, news and trends.
We are proud to partner with Treasury & Risk and are confident that this collaboration will bring even more excitement and opportunity to the U.S. Fintech Symposium attendees. Keep an eye out for further updates on this exciting partnership!
About Treasury & Risk
Treasury & Risk provides high-level treasury and finance executives with the strategic content and critical information they need to keep their businesses moving in the right direction. You can rely on Treasury & Risk as your trusted source of thought leadership on regulatory changes, economic trends, best practices, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals.
This session will discuss the evolution of the payroll, why on-demand pay is the future and how it fits into the fintech ecosystem, and why the financial services industry should care. Payroll is the point a consumer’s financial journey begins – without a steady inflow of funds, consumers simply cannot pay for items, let alone utilize the millions of fintech services available today. And, for most people, they rely on a paycheck as their main source of income.
However, on any given day, EY estimates that $1 trillion of employees’ wages are locked up in payroll systems across OECD countries. Meanwhile, millions of people live paycheck to paycheck, with little to no financial buffer in between the 2-4 week pay cycle. In fact, according to Ceridian’s latest research, one in two North American workers tapped into their savings account to pay for necessities in 2022.
As a result, they succumb to credit card debt or even payday loans to make ends meet. With financial stress at all-time highs, imagine what freeing up that $1T in capital would do for workers’ financial well-being. Over the past several years, on-demand pay has revolutionized the payroll experience by eliminating the need to wait for payday. Leading employers have successfully implemented on-demand pay solutions like Ceridian’s Dayforce Wallet to empower workers with instant access to their paychecks.
Most Important Points?
As more employers recognize the importance of on-demand pay, it will open the doors for millions of people to access their paychecks on any day of the month. Plus, it will act as a as a financial bridge for those lacking access to credit. This presentation will highlight how this will impact a consumer’s financial journey, and why it matters to the fintech industry. Explore how the fintech ecosystem can take advantage of a massive opportunity to provide every employee (a potential customer) with more sophisticated financial tools like robust budgeting options, lending products, credit building, investments, and more. What’s next after on-demand pay? What types of innovations will bridge the gap between the traditional two-to-four-week pay cycle and employees’ financial needs? Enter streaming pay, a technology pioneered by Ceridian that will automatically “stream” workers’ earned wages into their wallets in real-time. As workers face macroeconomic challenges like inflation, many are barely making ends meet, with little to no financial buffer to pay for unexpected expenses like a car repair or a medical emergency. Explore how employers like Danone North America and OTG Management have implemented on-demand pay to help alleviate this stress for their people, leading to increased retention and productivity at work.
Fintech is revolutionizing the way that banks, credit unions, and financial services companies operate and this trend is set to continue in 2023. From improving the customer experience to reducing costs, fintech is providing a wide range of benefits for these institutions. In this blog post, we will explore the reasons why fintech is so important for banks, credit unions and financial services companies in 2023. The world of finance is rapidly changing and it is important for these institutions to stay ahead of the curve.
Banks & Fintech
Fintech can help banks improve their customer experience by providing more convenient and efficient services through digital channels. For example, customers can use mobile banking apps to check their account balances, transfer money and even deposit checks. This not only makes banking more convenient for customers, but it also reduces the need for physical branches and can help banks save money on overhead costs. Additionally, fintech can help banks reach new customers and markets that they may not have been able to reach before. This is particularly true for digital-only banks that can operate with a lower cost structure and have a more tech-savvy customer base.
For banks, a strategic initiative that can be considered in 2023 is to invest in digital channels to improve customer experience and reach new markets. This could include developing mobile banking apps, creating a responsive website and leveraging social media to interact with customers. Additionally, banks can leverage fintech to automate processes and reduce costs. This could include using AI-powered chatbots to handle customer inquiries or implementing blockchain technology to streamline back-end operations. Another strategic initiative that banks can consider is to partner with fintech firms to gain access to cutting-edge technology and services. This could include forming partnerships with fintech startups to co-create new products and services or using fintech platforms to improve the customer experience.
Credit Unions & Fintech
For credit unions, fintech can help them better compete with larger banks by providing similar digital services. This is particularly important as credit unions tend to have a smaller customer base and need to keep pace with the digital capabilities that larger banks can offer. By using fintech to provide digital services, credit unions can reach more customers who are comfortable using digital channels for their financial needs. Additionally, fintech solutions can also help credit unions increase member engagement by providing more personalized services.
A strategic initiative that Credit Unions can consider in 2023 is to develop an enhanced digital strategy to better compete with larger banks. This could include creating a mobile banking app, a responsive website and using social media to interact with customers. Additionally, credit unions may be able to use fintech to increase member engagement and personalization. This could include using data analytics to create targeted marketing campaigns or using AI-powered chatbots to provide personalized financial services. Another strategic initiative that credit unions can consider is to invest in technology and data analytics to improve risk management and compliance.
Financial Services & Fintech
For financial services companies, fintech can help them improve their risk management and compliance capabilities. With the help of fintech, they can automate certain processes and monitor transactions in real-time which can help them identify and prevent fraud more effectively. Additionally, fintech can help financial services companies provide more customized and targeted products and services to their clients. Furthermore, fintech can also help financial services companies to be more responsive to changing market conditions and consumer preferences.
For financial services companies, a strategic initiative that can be considered in 2023 is to collaborate with fintech companies to stay at the forefront of innovation in the sector. This could include forming partnerships with fintech startups to co-create new products and services or using fintech platforms to improve the customer experience. Additionally, financial services companies can utilize data and analytics to better understand customer needs and preferences. This could include using data analytics to create targeted marketing campaigns or using machine learning algorithms to predict customer behavior.
In conclusion, fintech is an increasingly important aspect of banking, credit union, and financial services in 2023. It provides a way for these institutions to improve customer experience, reduce costs and stay ahead of the competition by leveraging cutting-edge technology. By implementing the right strategic initiatives, these organizations can thrive in the coming years.
Attending fintech conferences, where industry leaders and innovators come together to share their ideas and insights, is a great way to stay informed about the latest trends and technologies in the financial services sector. By attending fintech conferences, institutions can gain valuable knowledge and make valuable connections that can help them stay competitive in the fast-paced world of fintech.
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The Fintech, Banking & Financial Services Networking Group
We are thrilled to announce that Credit Union Times has become an official marketing partner of the 2023 U.S. Fintech Symposium. This strategic alliance brings together two of the most innovative and dynamic organizations in the fintech and credit union industry to provide you with the latest insights, news and trends.
We are proud to partner with Credit Union Times and are confident that this collaboration will bring even more excitement and opportunity to the U.S. Fintech Symposium attendees. Keep an eye out for further updates on this exciting partnership!
About Credit Union Times
Credit Union Times is the most comprehensive, independent credit union news site in the industry. Their trusted and independent team of experts provides credit union leaders with the strategic and tactical information necessary to run their institutions and better serve members. They celebrate those that are adapting and succeeding in new ways and translate the impact of regulations and technology into digestible, shareable information that can be immediately put into real-life practice.
New Session Announcement: Innovate in Fintech, Banking and Financial Services without Cloud Integration Headaches
Service Weaver is a programming framework that makes it easy to write, deploy, and manage high-performance cloud applications. The developer writes their application like it's a traditional, single-process executable that runs on the local machine, and the focus is mostly on the application business logic.
Service Weaver takes care of cloud configurations and integration with the cloud provider (e.g., breaks down into a set of connected microservices, monitoring, tracing, logging). With Service Weaver the developer doesn't have to worry about finding the right boundaries to split the application binary into microservices. They can split the application into as many modules as desired. During deployment, Service Weaver decides which modules run together in the same microservice and which run in separate microservices.
During deployment, the developer deploys and manages a single application binary. The fact that it runs as separate microservices in the cloud is an implementation detail: Service Weaver tooling preserves the impression of a single application binary, while it allows to easily run and test the application locally, before deploying it in the cloud. Last but not least important, Service Weaver uses custom serialization and transport protocols that are up to 3x more cost effective than the best industry solutions (i.e., gRPC and protocol buffers). This means the cloud bill is significantly reduced and the developer can double-down on their focus on the application logic.
The financial industry is rapidly evolving, with technology playing a major role in shaping the future of finance. Fintech, or the intersection of finance and technology, is changing the way financial services are delivered and creating new opportunities for growth and innovation. As a business in the financial industry, it's important to stay informed about the latest developments and trends in fintech. One way to do this is by sponsoring a fintech conference.
Fintech conferences bring together industry leaders, investors, entrepreneurs and other stakeholders to discuss the latest developments and trends in the industry. As a sponsor of a fintech conference, your business can gain valuable exposure, build relationships with key players in the industry and position itself as a thought leader in the field. Here are some reasons why your business should consider sponsoring a fintech conference in 2023:
We are excited to announce that Fintech Futures has become an official Marketing Partner of the 2023 U.S. Fintech Symposium. This collaboration will bring together two of the biggest names in the fintech industry to provide you with the latest and most innovative information, insights and trends in the fintech industry!
We are thrilled to partner with Fintech Futures and are confident that this collaboration will bring even more excitement and opportunity to the U.S. Fintech Symposium Conference. Stay tuned for more updates on this exciting partnership! In the meantime, be sure to check out Fintech Futures' website at www.FintechFutures.com.
In today's fast-paced and constantly changing world, it's more important than ever for professionals to stay up-to-date on the latest fintech trends, technologies, and best practices. Attending a fintech conference can be a great way to do just that.
Here are just a few reasons why it's important for professionals to attend a conference in 2023:
Join us at the U.S. Fintech Symposium to take advantage of expert insights and network with industry leaders all while staying up-to-date on the latest fintech innovations.