The FinTech Summit, sponsored by Accenture and Citi at MWC Barcelona 2022 on Wednesday 2 March 2022 explored the latest emerging themes, showcased case studies, and highlight future opportunities. Leading industry experts discussed the practical experiences of how the mobile ecosystem has harnessed the power of fintech to redefine markets whilst also looking forward to examining how emerging trends are combining to create a powerful force to accelerate the development of the token economy.
Watch all the sessions below:
Session 1: Digital Assets Landscape
With the valuation of the digital asset class now greater than the GDP of individual countries, digital currencies are now mainstream. Whether crypto, CBDC’s or stablecoin, digital currencies are now a high-profile news item powering the debate on the token economy. Similarly, NFTs are emerging as an exciting proposition.
In this session, we explored the key trends and the opportunities for the mobile eco-system.
Session 2: The Rise of Scam Attacks
As Commerce uses increasingly sophisticated technology to fight fraud, there is a growing trend of fraudsters now deploying social engineering scams as an attack vector.
This session explored how increased collaboration between key stakeholders across the ecosystem has enabled the development of innovative solutions to increase security and enhance user experience.
Session 3. Web3.0 – The Metaverse
Whilst the subject of much media interest it’s also true that metaverse is now a common term featuring frequently in major tech companies’ earnings calls and a significant focus of the strategy. Often referenced as web 3.0, it’s a term used to describe the evolution of the internet, a future state blending physical and digital experiences, including identity, payments, entertainment, and social media, whilst also unlocking new digital business models.
We explored the current landscape, the vision and the implications and opportunities for the mobile ecosystem.
Session 4: Harnessing FinTech to Power Disruption
Over the past decade, mobile networks have been leveraging fintech partnerships to create market entry strategies with innovative, disruptive propositions creating substantial new value pools for shareholders.
At the same time, the power of fintech has been witnessed with the emergence of new digital-only propositions and incumbents harnessing fintech to accelerate growth strategies.
In our focus on disruption, we examined case studies of how fintech is enabling the creation of powerful, disruptive propositions that are redefining the market.
Session 5: Transformation of Payments
Recent years has seen an explosion in mobile wallet-based payment solutions offering real convenience to consumers, with a number developing into super apps. Digital currencies create a real threat of disintermediation and new regulation such as Open Banking is increasing competition. There have been huge disruptions in e-commerce and point-of-sale (pos) payments with new value propositions delivering seamless experiences and displacing cash. IoT technologies- watches, fridges, cars, smart speakers-are creating multiple payment opportunities and transforming the payment experience. The growth of electronic transactions is accelerating.
Industry experts reviewed the key developments and discuss what’s next for future payments.