Money 20/20 Europe – The “who’s who” and “who’s that?” of fintech
Jim McGivern – Cashfac’s Head of NBFI – reflects on this month’s experience of Cashfac exhibiting at Money20/20 Europe in Amsterdam.
And so, to Amsterdam with the Cashfac crew and our younger, better looking, trendier sibling firm-Slide. Slide uses the Cashfac engine to deliver a banking and cashflow management app that helps SMEs manage their businesses. It launches later this year, watch press for details.
Amsterdam is, I think, one of the most beautiful cities in the world and its RAI conference centre is absolutely vast. Big as Money 20/20 Europe was, it only used half the space at the centre. RAI hosted what appeared to be the Dutch equivalent of the Chelsea Flower Show at the same time. The Netherlands really is at the centre of Europe and their beautiful, multilingual people are some of the friendliest in the world.
The “who’s who” and “who’s that?” of fintech
I have been to many conferences in my time, but Money 20/20 really is the daddy of them all. The attendee list read like a “who’s who” of the payment and fintech world; with PayPal, Amazon and all the other big boys well represented. However, for me the real interest is in the “Who’s that?” of the industry- the new guys on the block who often have the best ideas and the smartest tech. However, they too were very well represented at the conference. If this conference was anything to go by, the level of innovation in our industry is growing by the day. It was no surprise that so many venture capital firms, looking for investment opportunities, attended the event.
Cashfac had a brilliant conference, there was a constant stream of people to our stand ranging from fintech innovators looking for open-banking-ready functionality, asset managers wanting to cut the cost of compliance, payment companies looking for partnerships, established banks looking to innovate, and industry press covering all of the above. Here is a short video of one of our Money20/20 press interviews where my colleague Tim delves into a few of these areas:
We even had some regulators dropping by, interested in how we solve the challenges of client cash segregation for Mifid firms and eMoney/Payment service providers. Once the regulators see how easy it is to deliver compliance in these areas, one imagines they will become less tolerant of breaches by regulated firms.
I have to make one criticism of the event. Our stand was right beside the funkiest café at the conference- serving grass and rice flavoured ice cream which they made there and then using liquid nitrogen. (Yes! Yes, it was completely disgusting). The café was designed to look like the battle bus in Fortnite (ask your kids). They intermittently let off an ear-splitting siren accompanied by smoke rings and other effects. I say intermittently but, in reality, it seemed to be every time a potential new client came to our stand to explain what they were looking for. How I came to hate that café.
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