Day 1 of Fintech Live London 2024 saw industry leaders explore the future of payments, AI, and embedded finance. From AI-driven customer experiences to the growing role of B2B embedded finance, the sessions offered key insights into the tech reshaping financial services.
The first day of Fintech Live London 2024 kicked off with a series of compelling panel discussions, keynote speeches, and fireside chats that delved into the future of payment technology, embedded finance, and artificial intelligence (AI) in financial services. Hosted at the renowned 155 Bishopsgate in the heart of London, the event brought together thought leaders and innovators who explored the latest trends shaping the industry.
Here’s a recap of the key highlights from Day 1.
The future of payment technology
The day kicked off strong, with an engaging panel discussions, such as the The Future of Payment Technology. Experts from leading companies such as Primer, Mangopay, and Corlytics offered insights into how advancements in payment technology are reshaping the way businesses and consumers transact.
Gabriel Le Roux, Co-founder and CEO of Primer, emphasised the growing importance of contactless payments and mobile wallets, particularly as consumer demand for fast and frictionless payments continues to rise. Kirk Donohoe, Chief Product Officer at Mangopay, explored how blockchain technology and biometric authentication are adding new layers of security to digital payments, reducing fraud, and enhancing the user experience. Mike O’Keeffe, SVP Business Development at Corlytics, rounded out the discussion by highlighting the regulatory challenges and opportunities that come with these innovations, stressing the need for compliance as payment systems evolve.
The consensus among the panel was clear: payment technology is becoming increasingly embedded in everyday life, with businesses needing to adapt quickly to capitalise on these trends. The conversation reinforced that staying ahead in this space requires not only adopting new technologies but also understanding the regulatory and customer-centric aspects of digital payments.
B2B embedded finance: Unlocking value for businesses
In a fireside chat titled B2B Embedded Finance, Chip Mahan, Global Head of Fintech Strategy & Operations at Sage, and Andrea Reynolds, CEO of Swoop, discussed the immense value embedded finance offers to B2B businesses.
Mahan emphasised that embedded finance goes beyond simply providing payment solutions—it’s about integrating financial services directly into the business operations of clients at the right time. This allows companies to meet their financial needs seamlessly, with minimal friction. Reynolds added that solutions like Swoop’s platform, which helps businesses access a wide range of funding options, including loans, grants, and investment opportunities, are paving the way for a more connected financial ecosystem.
Both speakers highlighted that embedded finance is not just a trend—it’s a strategic move that businesses are making to provide better customer experiences and unlock growth opportunities. The session left the audience with a clear understanding of how B2B companies can harness embedded finance solutions to gain a competitive edge.
Delivering real benefits from AI adoption
AI was a major theme throughout Day 1. At the fireside chat titled Delivering Real Benefits from AI Adoption, Gerald Pullen, Managing Director of Business Transformation at Concentrix Catalyst, discussed the practical benefits of AI for businesses, beyond the hype that often surrounds the technology.
Pullen explained that AI’s potential lies in its ability to streamline operations, reduce costs, and improve customer experiences. He noted that AI-driven insights can help businesses make better decisions in real time by analysing large volumes of data, ultimately enhancing productivity. One of the key takeaways was that businesses looking to scale AI effectively must focus on data quality, infrastructure readiness, and human-AI collaboration.
Pullen also touched on ethical considerations and the importance of ensuring AI is deployed responsibly. This session offered attendees actionable insights on how to integrate AI into their operations strategically, enabling sustainable growth.
What does good use of AI look like?
AI-focused discussions kept strong throughout the day. Jason Maude, Chief Technology Advocate at Starling Bank, in his keynote titled What Does Good Use of AI Look Like?, delved into how Starling Bank leverages AI to enhance personalisation, security, and operational efficiency. Maude emphasised that AI should be viewed as a strategic tool rather than a one-size-fits-all solution, urging businesses to align AI implementation with their broader goals to deliver a seamless, secure customer experience.
He highlighted the critical importance of high-quality data as the foundation for AI success, alongside the need for ongoing monitoring to ensure models stay effective.
Generative AI shaping the future
The next session, the AI in FinTech Forum, gathered industry leaders to explore the transformative power of Generative AI. Panelists included David Palmer (CPO, Vodafone Business), Nelson Wootton (CEO, SaaScada), Pawan Udernani (VP Data Tech, Genpact), Andrew Robinson (Product Director, NatWest), and Isabel Pitt (Digital Payments & Cards Director, Nationwide).
The discussion cantered around how AI—particularly Generative AI—is reshaping the FinTech landscape by enabling more personalised customer experiences and streamlining internal processes. The panellists pointed out that AI has significantly enhanced customer service, with AI agents handling operational tasks and responding to customer queries in real-time, and emphasised the power of embedded AI in banking systems, predicting that AI will eventually drive most customer interactions, minimising human involvement in transactional processes.
The discussion also touched on the ethical implications and data challenges that come with AI adoption, particularly in heavily regulated industries like finance. However, the general sentiment was one of excitement, as AI is positioned to drive innovation in FinTech, transforming how businesses operate and engage with customers.
A glimpse into the future of FinTech
Day 1 of Fintech Live London 2024 provided a wealth of knowledge on the current and future state of FinTech. Whether discussing payment technologies, embedded finance, or the real-world applications of AI, the message was clear—innovation is transforming the industry, and businesses must be prepared to adapt.
Stay tuned for more coverage from Bobsguide as we dive deeper into the trends shaping the future of financial services.