Around the (virtual) world of Fintech in three days!
Journalist Julie Tezkratt, who is working at Zena Media this summer, spent three days traveling - virtually - to top Fintech events in Canada, Africa and Amsterdam!
Author: Julie Tezkratt
The last week, the world of Fintech was on the move! Each day, there was a new event, at a new destination! Throughout the week I went from London to, Canada, then Africa and Amsterdam, to write articles for Fintech Finance, Zena Media's Media Partner.
Whilst Fintech is changing the world in a positive way; making the way we manage our every day finances easier and more transparent, or giving developing countries easier access to finance, what stood out for me is that different countries have different approaches to the Fintech.
Day 1: The Payment Canada Summits
The Payments Canada Summits was a perfect place to talk about the future of payments, fintech, technology. High-profile business leaders were there, presenting their vision of the "new world" and the future of finance.
The COVID-19 has changed the way we live, and as a result the banking systems have had to evolve. As consumers shop and work from home, online and mobile banking has become not just a choice, but a necessity.
Zoom fatigue could not stop attendees to Canada’s largest payments conference. The Payments Canada Summit went virtual this year and more than 2,000 delegates joined five days of programming featuring 300 speakers.
The 2021 SUMMIT covered a wide range of topics facing the payments ecosystem, such as the development of more sustainable and inclusive payments.
The conference closed today with remarks from outgoing Payments Canada Board Chair Eileen Mercier: "We are really moving now. You have made the vision a reality. Everything that has been achieved is a reflection of your hard work and commitment to making Canada a modern and progressive economy.”
As someone who isn't from a Fintech background, I found the summit was very interesting, and easy to understand, even if you don't know about finance and banks.
Day 2: The future of payment in Africa
Image: Global Waters
Next up was The Future of Payment in Africa summit!
The instant payment system is popular all around the world, and Africa is no exception.
The summit focused on new payment regulations which affect the real-time payment industry.
Achieving 24-7 payment domestically and cross-border in real-time, however, often comes with several challenges making it imperative for regulators and financial institutions to reform the current business models and adopt latest standards and systems.
The event featured Speakers from countries like Ghana, Nigeria and South Africa.
A lack of access to services, especially in rural areas in Africa, has created an opening that fintechs have been quick to take advantage of, with many stepping up to develop enhanced propositions across the value chain to address pain points in affordable payments, quick loans, and flexible savings and investments, among others
Day 3: Amsterdam Fintech Week
Image: Global Finance Magazine
My final stop was at The Amsterdam Fintech Week. This event brings you over 200 speakers from 42 countries!
What stood out for me was the debate around the role that tech giants, like Facebook or Google, play in the finance sector. Tech companies poses a growing risk to the traditional banking model. Some see this as a major threat to fintechs, whilst other financial institutions are embracing partnership and collaboration as the way forward.
Overall, it was brilliant to be able to dip in and out of these events, across the globe, all in the same week! That said, next year I'm looking forward to hopefully attending in person, and nothing beats meeting people and hearing from Speakers in real life.