{"id":15934,"date":"2021-04-02T13:35:56","date_gmt":"2021-04-02T13:35:56","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=15934"},"modified":"2021-04-02T13:35:56","modified_gmt":"2021-04-02T13:35:56","slug":"highlights-from-finnext-2021","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/highlights-from-finnext-2021\/","title":{"rendered":"Highlights from FinNext 2021"},"content":{"rendered":"<p>Speakers at the 9<sup>th<\/sup> FinNext Financial Innovation Forum covered a wide variety of topics, ranging from biometrics and omnichannel developments to the decreasing popularity of plastic cards and the rise of digital currencies. Here\u2019s a quick look at the main discussions that happened at the Forum:<\/p>\n<ul>\n<li><strong>Going online<\/strong> \u2013 we\u2019re moving toward a completely online society, even in banking. But we\u2019re not there yet. We still have work to do related to biometrics, especially digital signatures and electronic image storage.<\/li>\n<li><strong>Offline and omnichannel management<\/strong> \u2013 many consumer choose offline solutions due to security concerns and a feeling of comfort in knowing no one can get stick their digital fingers where they don\u2019t belong. We\u2019re now starting to see hybrid solutions that allow for the online to be taken offline, e.g. the cold storage of cryptocurrencies.<\/li>\n<li><strong>Plastic cards<\/strong> \u2013 consumers seem to be quickly moving away from plastic for the convenience that smartphone payment technologies provide. While we still can\u2019t fully get away from plastic cards (especially when traveling abroad), we\u2019re definitely headed in this direction.<\/li>\n<li><strong>Machine learning<\/strong> \u2013 machine learning solutions are still in their nascency, but their adoption is increasing in nearly all facets of life. This direction will continue to be developed.<\/li>\n<li><strong>Digital currencies and the tokenization of non-cash funds<\/strong> \u2013 digital currencies and tokenized non-cash funds seem like an inevitability. Once developed, they will open up new opportunities for in cashflow for people, companies, financial institutions and nations. Now, we just need to ensure legislation and regulations surrounding them are put in place to support such measure.<\/li>\n<li><strong>FinTech trends<\/strong> \u2013 the 5 main trends in FinTech currently going on are: (1) the development of open data, (2) the seamless integration of financial services with other industries, (3) the development of digital identification, (4) the active development of marketplaces that allow consumers to easily compare financial service offerings and (5) the transformation of money (e.g. the rise of digital currencies).<\/li>\n<\/ul>\n<p><strong>Global financial market development<\/strong> \u2013 financial markets around the world are becoming more open than ever before, but we are seeing 3 different ways of doing this: (1) digital platforms, as seen in China, (2) open competition through open API development, as seen in the U.S. and the U.K. and (3) ecosystems around large financial institutions, as seen in Russia.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-15934 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Lessons learned on the path from startup to success'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/lessons-learned-on-the-path-from-startup-to-success\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/lessons-learned-on-the-path-from-startup-to-success-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12328\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12328'>\n\t\t\t\tLessons learned on the path from startup to success\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Commercial financial institutions embracing FinTech partnerships?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/commercial-financial-institutions-embracing-fintech-partnerships\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/commercial-financial-institutions-embracing-fintech-partnerships-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13346\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13346'>\n\t\t\t\tCommercial financial institutions embracing FinTech partnerships?\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Institutional Investors Increasingly Interested in Digital Assets'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/institutional-investors-increasingly-interested-in-digital-assets\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/07\/c64dd031-3abe-34d2-b4de-f60ca52541a01-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16140\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16140'>\n\t\t\t\tInstitutional Investors Increasingly Interested in Digital Assets\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Speakers at the 9th FinNext Financial Innovation Forum covered a wide variety of topics, ranging from biometrics and omnichannel developments to the decreasing popularity of plastic cards and the rise of digital currencies. Here\u2019s a quick look at the main discussions that happened at the Forum: Going online \u2013 we\u2019re moving toward a completely online &hellip;<\/p>\n","protected":false},"author":12,"featured_media":15931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15934"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=15934"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15934\/revisions"}],"predecessor-version":[{"id":15935,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15934\/revisions\/15935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/15931"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=15934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=15934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=15934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}