Fintech Inn 2021: What’s next for payments? - Fintech Inn Lithuania

Fintech Inn 2021: What’s next for payments?

If online payments were once confined to just your banking account, today we see lightspeed electronic payments being performed across apps and digital wallets, and the possibility of transferring money is oftentimes embedded in non-financial software. And as traditional ways of sending and receiving transactions became problematic with the advent of COVID-19, millions of users around the world have joined the digital payments revolution. 

But what does the future hold for the payments industry? This is the central question of the “Powering the Potential of Payments” panel discussion at the virtual Fintech Inn conference, held on October 21-22. The panel will see top payments experts and fintech entrepreneurs address the pandemic-driven changes and their continuous impact on the sector, as well as emerging trends that will shape the payments industry long-term.

Lockdowns that went into effect in cities across the globe as a result of COVID-19 brought significant limitations to the traditional forms of sending money, highlighting the importance of digitalization. According to Daumantas Dvilinskas, co-founder and CEO of TransferGo, a fast-growing international money transfers provider, the shift to digitalization in cross-border payments is now proceeding faster than ever before.

In Europe, we had three distinct lockdowns. During the first lockdown we saw an unprecedented shift from cash to digital remittances. People simply couldn’t physically go to a Western Union kiosk. At TransferGo, we saw a 156% increase in traffic to our website, for example,” Mr. Dvilinskas says.  “Countries like the UK, Germany, Scandinavia, and Poland, while having strongly digitized local payments, still made around 50-60% of cross-border payments in cash. Today, we see a strong leap towards digitized payments – once people try digital, they don’t want to go back to cash.”

As the payments world is transitioning to digital-first, customer expectations are rising along with the increasing demand for digital payment services. For Airidas Puodžiūnas, General Manager of Banking-as-a-Service platform Contis, the key activity in the post-pandemic payments landscape is not creating new products, but building better customer experiences.

“Users now expect seamless, frictionless experiences. That’s why embedded finance is emerging as a new trend in the market, as it allows to integrate payment solutions into a wider product or service proposition,” he explains. “Another trend we are witnessing is digital payments becoming a tool to achieve a different kind of customer loyalty. Businesses – like insurance companies – that offer accounts, payment services, or payment cards, avoid their customers’ funds leaving their financial ecosystem, which can give such companies an advantage against competitors.”

While real-time payments are undoubtedly a critical piece of the customer experience puzzle, end-user experience is only part of the picture. To set themselves apart from augmenting competition, instant payment solution providers need to think about how easy it is for their partners to connect to their infrastructure, says Marcilio Oliveira, co-founder and CGO at Sensedia, an API management platform.

“Everyone is looking to launch instant payments, so providers need to use their IT infrastructure as an innovative differentiator. The key concern here is what developer experience is like, and how pluggable, scalable, and secure your IT infrastructure is,” Mr. Oliveira believes.

Deep, fluid payment integrations result from a lot of engineering heavy-lifting, and according to the panel’s moderator Hugo Rousseau, Financial Services and Payments Programme Manager at techUK, this less exciting side to building a payments solution is the also most important one.

“We can talk about the fancy buzzwords of growth and innovation, but at the end of the day, you need the technology to work. What payments eventually come down to are people in place with the right capabilities and skills to run the show,” concludes Mr. Rousseau.

Join this and other discussions on the hottest fintech trends and challenges during the virtual Fintech Inn 2021 conference. Held on 21-22 October, Fintech Inn 2021 will bring together 250+ enterprises and start-ups, as well as 1000+ investors, policymakers, entrepreneurs and technology leaders from all over the world to exchange knowledge and discuss topics from green finance to startup media. You can get your free ticket to one of the largest industry events now on myOnvent platform.

 

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22 October | Main Stage | GMT +3 /
Time
Topic
Speakers
10.05-11.05
INVESTING IN CRYPTO / DIGITAL ASSET COMPANIES (VENTURE CAPITAL PERSPECTIVE)

Sumit Kishore (moderator), Head of Operations @ Consensys
Uldis Tēraudkalns, CEO @ Nexpay
Sang H Lee, Co-Founder and CEO @ VegaX and Konstellation

11.05-12.05
NEOBANKING’S NEXT TRICK: GETTING BIG, STAYING NIMBLE

Remco Veenenberg (moderator), Head of Partnerships @ Perfinal
Sarp Demiry, CEO @ European Merchant Bank
Mantvydas Štareika, CEO and Member of the Board @ SME Bank
Esther Groen, Advisor to the Board @ Holland FinTech
Andrius Bičeika, Deputy CEO and Member of the Management Board @ Revolut Bank

12.05-13.05
DIGITAL TRANSFORMATION: THE NEXT ERA OF FINTECH

Jarosław Sarwa (moderator), Community Partner @ FinTech Connector, Digital Leader @ QGroup
Jennifer Reynolds, President and CEO @ Toronto Finance International
Liudas Kanapienis, Co-Founder and CEO @ Ondato
Anton Zujev, Head of Business Development and Sales @ Forbis
Siri Børsum, Global VP Finance Vertical Eco-development & Partnerships @ Huawei Consumer Group

13.05-13.25
THE SUCCESS STORY BEHIND GROWTH OF LITHUANIA’S FINTECH ECOSYSTEM AND WHERE DO WE GO FROM HERE ?

Liutauras Žilinskas, Investment Advisor for Technology @ Invest Lithuania

13.25-14.35
DIGITAL IDENTITY & DECENTRALISED IDENTITY: CHALLENGES & OPPORTUNITIES

Liudas Kanapienis (moderator), Co-Founder & CEO @ Ondato
Audrius Ramoška, Co-Founder and CEO @ Soverio
Kalev Pihl, CEO @ SK ID Solutions
Jon Ølnes, Product Manager Trust Services @ Signicat
Barbara Hałasek, Head of Regulatory Affairs @ Coinfirm

14.35-16.05
WORKSHOP: STARTUPS, PR AND THE MEDIA IN 2021

Mike Butcher, TechCrunch’s Editor-at-large
Julija (JJ) Jegorova (moderator), Founder and CEO @ Black Unicorn PR

16.05-16.15
CLOSING

Louis Zezeran, moderator

9.00-9.05
OPENING

Louis Zezeran, moderator

9.05-10.05
IS ALTERNATIVE FINANCING BECOMING MAINSTREAM FINANCING?

Mindaugas Mikalajūnas (moderator), CEO @ SME Finance
Tomas Mačiulaitis, CEO @ FinBee Verslui
Diego Perez, CEO @ the Fintech Association of Brazil – ABFintechs and Co-Founder @ SMU Investments

Michel Breeuwer, General Manager Benelux @ Mambu

21 October | Main Stage | GMT +3 /
Time
Topic
Speakers
10.25-11.30
EMPOWERING GREEN FINANCE. BIG CHANCE FOR FINTECHS?

Alex Gibb (moderator), Partner @ Katalista Ventures and Advisor @ Sumup
Dominykas Stankevičius, Investment Associate @ Launchpad Capital
Tee Pruitt, Head of Partnerships @ Doconomy
Akvilė Bosaitė, Partner and Co-Head of Banking & Finance Practice Group @ COBALT Legal
Rosvaldas Krušna, Chief Specialist @ the Bank of Lithuania

11.30-12.35
DATA PRIVACY vs. AML/KYC

Martynas Bieliūnas (moderator), Managing Partner @ Privacy Partners Group
Domantas Čiuldė, Co-Founder and CEO @ Idenfy
Faisal Islam, Head of FC/AML @ Sentinels.ai
Marios M. Skandalis, Director Compliance @ Bank of Cyprus
Taavi Tamkivi, Founder and CEO @ Salv

12.35-13.10
120M AUDIENCE – THAT FINTECH ECOSYSTEM HAS OVERLOOKED

Vaiva Amulė (moderator), Head of Fintech Hub LT
Sandra Golbreich, Co-Founder and CEO @ Baltic Sandbox

13.10-14.10
DeFi AND THE FUTURE OF FINANCE

Ash Costello (moderator), Member of Expert Panel @ EU Blockchain Observatory & Forum
Vytautas Karalevičius, Co-Founder @ Bankera and SpectroCoin
Vytautas Kašėta, Co-Founder & CIO @ SUPER HOW?
Chia Hock Lai, Co-Chairman @ Blockchain Association Singapore
Patryk Walaszczyk, Blockchain Consultant @ IBM

14.00-15.00
POWERING THE POTENTIAL OF PAYMENTS

Daumantas Dvilinskas, CEO & Co-Founder @ TransferGo
Marcilio Oliveira, COO & Co-Founder @ Sensedia
Marius Galdikas, CEO @ ConnectPay
Airidas Puodžiūnas, General Manager @ Contis

14.55-15.45
CYBER SECURITY: BEST PRACTICES TO OPTIMIZE INCIDENT HANDLING

Tomas Martinkėnas, Director of Security and Privacy @ Vinted
Mario Galatovic, VP Products & Alliances @ Ultimaco
Jessica Ramos, Head of Regulatory & Oversight Affairs @ EBA CLEARING
Marius Pareščius, Vice President @ Paysera

Tomas Beinaravičius (moderator), Senior Consultant @ Transcendent Group Baltics

15.45-17.00
FINTECH & AI: BREAKING DOWN FINANCE VERTICALS AND IN SEARCH FOR NEW HORIZONTALS

Jung Seok Kang, Founder and CEO @ AIZEN
Mariane ter Veen, Director, Lead Data Sharing @ Innopay
Dr. Yogesh Malhotra, Founding Chairman & CEO @ Global Risk Management Network

18.10
CLOSING

Louis Zezeran, moderator

9.00-9.10
OPENING

Louis Zezeran, moderator

9.00-9.15
WELCOME ADDRESS
9.15-10.25
MOVING FROM OPEN BANKING TO OPEN FINANCE. WHAT DOES THE FUTURE LOOK LIKE?

Ronalds Mesters, Co-Founder & CEO @ Nordigen
Aleksėjus Loskutovas, CEO @ NEO Finance
Gibson Nascimento, Head of Solutions EMEA @ Sensedia
Shaul David, Growth & Head of Banking @ Railsbank