The European edition of Money20/20 was held in Amsterdam RAI conference center last week, June 4-6. With over 8,000 attendants from 90+ countries globally, hundreds of exhibitors, 12 bigger and smaller stages across 3 exhibition halls, and well over 300 information sessions throughout the 3 days of the event, it can be described as too much of a good thing.
With different stages, presentations, exhibitors, attendees, main events and side events, the conference offered a multitude of learning opportunities and networking possibilities, but with so little time, it became quite impossible to attend everything.
Taco de Vries, PCN’s managing partner in The Netherlands, managed to visit the event, and included a few of the standout moments in this article.
Once again, Money20/20 Amsterdam, the renowned financial technology conference, united industry leaders, visionaries, and innovators to share their insights and ideas. In a sunbathed Amsterdam, the venue and location were great, and the atmosphere was buzzing.
The event featured impactful speeches by influential speakers who shared valuable insights on the future of finance and technology.
Industry insiders and disruptors explored themes such as blockchain, artificial intelligence, open banking, cybersecurity, and sustainable finance. Attendees actively participated in these sessions, exchanging ideas, challenging perspectives, and gaining actionable knowledge to navigate the evolving fintech ecosystem.
Let us delve into a selection of memorable speeches, engaging dialogues (fireside chats), events, and other highlights:
Artificial Intelligence – Man vs Machine: Algorithmic Bias
Ex-Twitter exec Dr. Rumman Chowdhury, who currently is a Responsible AI Fellow at the Berkman Klein Center at Harvard University, kickstarted the event by sharing her insights on the impact of AI on current financial systems and our society. Addressing current concerns such as the algorithmic bias in AI causing skewed output and the potential for AI to cause widespread job displacement, she emphasized the need to address this topic and related concerns globally rather than locally. The potential as well as the implications are so big that an individual company or even an individual country can’t tackle them alone.
Fall in Love with the Problem – a Waze to grow your business
Uri Levine, the unicorn behind Waze, the world’s largest community-based driving traffic and navigation app and a board member of Moovit (the Waze of public transportation), delivered an inspiring speech on what to focus on and how to be successful when starting a business. Both Waze and Moovit were successfully acquired by Google and Intel respectively. His key message was simple (which was also clearly printed on his t-shirt): fall in love with the problem, not the solution.
Alice in Moneyland – Social networking
Adding to the abundant networking opportunity during the day, day one of Money20/20 ended with a small festival hosted by the “Amsterdamse Bos”. This provided a relaxed and social setting for further networking.
Attendees could enjoy food, drinks, and live music and participate in the “immersive adventure” called Alice in Moneyland which was exclusively designed for Money20/20.
Open banking was a hot topic during this year’s event, appearing as the central topic in many sessions.
GoCardless CEO Hiroki Takeuchi took center stage discussing Open Banking and Recurring Payments together with Mark Brant, Natwest’s Chief Payment Officer. The two companies formed a partnership on delivering Variable Recurring Payments to both consumers and businesses. They stressed the significance and importance of cooperation between a fintech challenger (which just raised £312m of additional funding in Series G last year) and an incumbent player like Natwest. With VRP, businesses can efficiently collect customer payments through the Faster Payments service, enabling the receipt of payments in nearly real-time.
An IDEAL Move?
Dutch leading online payment scheme iDEAL was recently acquired by EPI (European Payments Initiative). CEO’s Martina Weimert (EPI) and Daniel van Delft (Currence, the Dutch company that owns/owned the iDEAL scheme) sat down to discuss this strategic move and its potential and implications for the Dutch and European payments landscape. The key question was on whether European consumers would adopt the iDEAL payment product in the same way the Dutch consumers have since its introduction in 2005. Obviously, the competitor landscape in The Netherlands in 2005 (hardly any competition on e-commerce payment products) differs from the current growing but much more mature landscape in Europe, with well-established, international alternatives. Martina Weimert stated: “iDEAL is positioned to become the European payment system for direct Account to Account (A2A) payments and a versatile digital wallet”. The launch is projected for 2024 beginning in France, Germany, and Belgium followed by the rest of Europe at a later time.
One of the standout aspects of Money20/20 Amsterdam was the ample networking opportunities it provided. Attendees connected with like-minded professionals, potential collaborators, and industry influencers from around the globe. From casual coffee breaks to dedicated networking events, the conference provided a conducive environment for fostering valuable connections. Attendees broadened their professional networks and engaged in effective and efficient deal-making activities.
Money20/20 Amsterdam highlighted an impressive and almost overwhelming lineup of speeches and speakers. From visionary keynotes to inspiring personal journeys and future-focused discussions, these speakers offered valuable insights into the transformative power of fintech. The event served as a hub for exchanging ideas, fostering innovation, and shaping the future of the financial industry. This year’s edition offered abundant networking opportunities, leaving attendees both exhausted and energized. Anticipation for next year’s event is already building.
Author: Taco de Vries, Managing Partner, Netherlands, Payments Consulting Network
With extensive experience as a payments business consultant, Taco possesses a unique blend of project management expertise and deep knowledge of various payment domains. His decade-long involvement in international market research has equipped him with comprehensive insights into global retail and consumer services, facilitating a well-informed approach.
Payments Consulting Network was one of the media partners of Money 20/20 Europe in Amsterdam.
Money20/20 is a premier show on the industry calendar where C-level executives, renowned speakers, innovators and disruptors from across the world drive change in the future of money. Two more events are upcoming in the US and Asia. Check them out.
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