From Legacy Core to Digital Bank: Paths Forward

Thursday 13 December   15:00 GMT

Financial institutions are racing towards the digital future, working to transform their operations in response to increasing competition, expanding markets, and diversifying customer segments. Watch the latest Finovate webinar to hear from an expert panel on unchaining yourself from legacy systems.

Whether aiming for more share of wallet or targeting the underbanked and unbanked, growth opportunities are there if banks can find the right combination of channels, technology, and solutions.

To reach this future, institutions must invest in new technologies that boost their ability to scale operations and serve customers more efficiently. While large, well-capitalized banks have paths to progressively renovate their legacy systems and build new digital layers, smaller community and regional banks have found it more challenging and risky to pursue significant transformation efforts. Experts from CeleritiFinTech, a leading innovator in global banking and payments systems, and DXC Technology discussed:

  • Key challenges around core modernization for mid-tier community and regional banks
  • Five potential modernization paths financial institutions can pursue
  • New cloud-enabled and as-a-service models banks should consider

Featuring: 

  • Thomas Demchak, Banking and Capital Markets Technologist, DXC Technology
  • Terry Rupp, Chief Technology Officer, CeleritiFinTech
  • Scott Lorenz, Head of Global Core Banking Strategy and Product, CeleritiFinTech

Webinar: Turning Identity Verification Into a Competitive Advantage

The digital lending and finance sector has grown dramatically in the last few years but traditional banks still dominate lending and the financial services space, while digital-first challengers and fintechs are still facing an uphill battle to capture customers and take advantage of the opportunity the digital transformation has provided.

Customers are taking notice of these newcomers though, and efficient onboarding using digitized workflows, such as digital identity verification technology, are being used by both new entrants and incumbents to boost competitiveness in an era where many consumers are increasingly shifting from being digital-first to digital-only.

Watch this Finovate webinar to learn from leading experts in the digital space who will delve into how digital lenders, fintechs, and even incumbents can leverage digital to ward off inefficiency, drive the best possible customer experience, and enhance the speed and cost-effectiveness of the onboarding process.

Our experts will be covering topics including:

  • The landscape for digital lenders in Europe: Explore the rapidly-expanding digital landscape and what digital lenders are competing with incumbents.
  • The need for increased security: See methods for mitigating fraud and risk posed by financial transactions in the online world where face-to-face or traditional ways of verification aren’t possible.
  • Seamless user experience: Learn how leading companies are leveraging digital ID verification to bring on more customers, more quickly.
  • Cutting compliance costs while boosting efficiency: See how, in a supposedly digital world, mandatory KYC and AML checks are still all too often a largely manual process. Digital processes have the potential to help to reduce KYC and AML compliance costs by up to 70% – and could improve the speed of these checks by up to 80%.

Featuring:

Lex Sokolin
Global Director Fintech Strategy, Partner
Autonomous Research

Sokolin is a futurist and entrepreneur focused on the next generation of financial services. He directs Fintech Strategy at Autonomous Research, a global research firm for the financial sector, helping clients understand and leverage innovation. Covered themes include roboadvice, blockchain and cryptoeconomy, artificial intelligence, chatbots, neobanks, and banks-as-a-platform, insurtech, and regtech.

Joe Bloemendaal
VP of Identity, EMEA
Mitek

Bloemendaal has long been actively involved in online identity and risk management, with 15+ years of experience in entrepreneurship, international sales and marketing in the field of internet technology, and SAAS. In his career, Bloemendaal has successfully founded and managed two businesses which still exist to this day. As VP of Identity for EU for Mitek, Bloemendaal is responsible for setting the strategy and continually driving growth for Mitek in digital identity verification across Europe.

What’s Driving the Fintech Ecosystem?

The fintech space is filled with new players bringing to market new innovations and solutions to old business and consumer problems, as well as traditional businesses looking to develop in-house innovation teams and partner with start-ups. But what they both have in common is a desire to meet and exceed changing customer demands, make financial services more accessible and user-friendly, and keep up with the fast-paced technological advances. During FinovateFall, we sat down with the experts on the ground to ask them about what’s driving the fintech ecosystem where they work.

Andrew Boyajian, Head of Banking, North America, Transferwise on overcoming regulatory challenges to launch a global product.

Neeraj Arora, Global Head of Decision Science and Data Automation – Personal Insurance at AIG on the importance of an innovation branch in the business and why they should work hand-in-hand with start-ups.

David Snitkof, Head of Data Integration & Insights at Kabbage discusses leveraging data and why it should be more than just plugging in some numbers to get an output.

Christian Zimmerman, Co-founder & CEO, Qoins on the pain points which lead him to Qoins and what the future has in-store for crowd-funding to pay back loans.

Alyson Clarke, Principal Analyst, Forrester on the three components for a quality customer experience.

Generating Value from Bank, Insurance and Fintech Partnerships

During Finovate Fall, four stages provided the chance for more focused discussions around the banking and payments, digital lending and wealth management. Here, on the Emerging Technologies stage, a panel discusses the role of partnerships in generating value. Featuring:

  • George Anderson – CEO & Founder, Ninth Wave
  • Nathalie Dore – Chief Digital and Acceleration Officer, BNP Paribas Cardif
  • Matt Ribbens – SVP Enterprise Digital Strategy, BB&T
  • Dave Mooney – President and CEO, Alliant Credit Union
  • Travis Skelly – Senior Vice President, Venture Investing, Citi Ventures
  • Michael Roberts – Chief Marketing & Digital Strategy Officer, Bank of America Merchant Services

Webinar: What’s next for top-tier banks and financial messaging?

WIFT remains a mission critical channel for all financial institutions. But the cost and complexity of operating SWIFT for top-tier banks has increased substantially since the introduction of SWIFT’s CSP programme. As payments and connectivity become increasingly commoditised for all financial institutions, banks are re-thinking how best to maintain secure, reliable and compliant SWIFT operations and back-office applications at the lowest cost.

To respond to our customers’ needs, equensWorldline has launched a new fully managed service to meet the needs of tier-1 banks that can no longer afford to invest in ageing infrastructure or meet increasingly stringent regulations and market practices.

Now, for the first time, outsourcing of SWIFT and other financial messaging channels is a realistic and attractive option for tier-1 banks that previously operated their SWIFT infrastructures in-house.

Commerzbank AG, a top SWIFT user, recognised the benefits and adopted the Next Generation Financial Messaging service from Worldline, an Atos Group Company. The service uses the BOX Messaging Hub from Intercope.

The webinar will give an overview of the:

  • Fundamental changes to SWIFT operations impacting Tier-1 banks
  • Changes to the regulatory environment including SWIFT’s CSP programme
  • The key financial benefits of  using this managed service
  • Key benefits of a modern and high performance platform
  • Flexible customization to customer needs
  • Ease of integration to back-end applications

Featuring:

Julius Pietowicz, Head of the SWIFT Service Centre, equensWorldline

Olaf Badstuebner, Global Director Financial Services, Atos Group

Daragh Kirby, Sales Director, INTERCOPE

Analyst All-Stars: What’s Hot in Fintech?

During Finovate Fall 2018, leading fintech research analysts took to the stage for 7 minutes each to present key opportunities for banks and other financial services providers. Featuring:

  • Jacob Jegher – Senior Vice President, Banking and Head of StrategyJavelin Strategy & Research
  • Alyson Clarke – Principal AnalystForrester
  • Daniel Latimore – Senior Vice President, Banking GroupCelent
  • Thad Peterson – Senior AnalystAite Group

Cracking the Fintech Code: Secrets to Success for Start-ups

FinovateFall welcomed over 70 start-ups to demo exciting new products and ideas, and opened the stage to pioneering thought-leaders to discuss the future of finance, technology and how the two come together to solve real world problems. We sat down with leaders of inspiring start-ups to get their insight on what the recipe for success is this often overcrowded space.

Matt Armstead, Executive Director, Founding Member, Board Member, FintechAccel gives his advice to start-ups and explores why getting a great team behind the idea is critical.

Jon Zanoff,  Managing Director, Techstars on knowing when a start-up is re ready to take a next step and join an accelerator.

Pini Yukeul,  CEO of Optimove, on how AI helps with segmentation, prediction and optimization within marketing and how start-ups and established businesses can leverage it.

Bringing Legacy Banks into the 21st Century

FinovateFall brought together fintech innovators from all over the world and representatives from some of the largest banks in the U.S., so naturally there were discussions around forging new partnerships and benefiting from the culture and technology shared between the different sides. We sat down with some of the key speakers to get their insights on how legacy banks and financial institutions can compete or collaborate in this new era.

Jeremy Balkin, Head of Innovation, Retail Banking & Wealth Management, HSBC USA on successful innovation projects and how to get them off the ground.

Mary Jane Ajodah, Vice President, Strategy, BNY Mellon, on how legacy banks can leapfrog start-ups – when they have the right strategy.

Steven Ramirez, CEO at Beyond the Arc, discusses the new trends he’s noticed emerging from the shadows.

Jim Marous, Publisher / Fintech Strategist, The Financial Brand/The Digital Banking Report explores why historical success can be a liability, as well as an asset for a bank.