Welcome

Same Challenge, Different Approach: What banks and FinTechs can learn from each other in the race to digitalisation

Sponsored by WorkFusion
Tuesday 6th December 2022, 18:00
Searcys at The Gherkin, 30 St Mary Axe, London, EC3A 8BF

In a bid to keep up with fast-paced FinTechs, incumbent banks are reducing high street services and moving operations online. Some are setting up in-house challengers, instilling a start-up culture that stands apart from the rest of the organisation.

Digital-first FinTechs and challenger banks, meanwhile, are further advanced in their cloud journey and digital adoption. They are more likely to sign-up digital natives, too. Yet they can lack the experience of traditional banks, risking alienating older customers and regulators alike.

From verification, perpetual KYC and compliance, to back office transformation and user and customer experience excellence there is work for both sides to do. The discussion will provide a chance to explore pKYC as an alternative approach to risk mitigation.

In short, the upstarts have much to learn from the incumbents. And the incumbents have much to learn from the upstarts.

That’s why we are bringing the two groups together. This roundtable event will be an opportunity for peers across the financial services generations to share good practice and identify investment priorities. Same Challenge, different approach.


Topics for discussion:

• What can FinTechs learn from traditional financial services institutions? What can traditional institutions learn from FinTechs?

• What are the key challenges for traditional banks and challengers in rolling out pKYC (perpetual KYC)? And how do experiences vary?

• What are the key considerations for traditional institutions and FinTechs when deciding where their investment priorities lie?

• What are the growing security and regulatory concerns for traditional financial institutions and FinTechs?

• How are traditional banks and FinTechs planning to take advantage of cost efficiencies in cloud deployments? What are the Infosec risks that need to be acknowledged and mitigated?

• What can be done to combat the avalanche of Sanctions Screening Alerts being produced as a result of increased global economic sanctions?

• What opportunities exist for FinTechs in leveraging traditional banks’ functions for customer authentication?

Timings for the evening:
18:00 – 18:30            Welcome and refreshments
18:30 – 20:00            Introduction to fellow guests and roundtable discussion
20:00 – onwards       Complimentary three-course dinner and drinks 


Who should attend:
Heads of Innovation, Compliance, AML, KYC, Sanctions, FinCrime Ops, Onboarding, Digital Transformation, Innovation, and Compliance Technology across the Banking and Financial Services sector.

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