As the market deconstructs banking, the banking-as-a-service (BaaS) category has grown. BaaS providers, while not banks themselves, partner with incumbent banks and digital banks to deliver regulated banking services to fintechs and other next generation tech companies. But what exactly is being provided? Who performs which functions? Who is the target customer? And what is the likely impact on the financial services industry?
Open Banking is the decoupling of traditional financial services in order to encourage competition between service providers and offer greater choice to end users. Already successful in India, the open banking model is beginning to accelerate in Europe. But will it ever reach the United States? And if so, what form will it take? This session explores open banking and looks at some of the potential implications for the payments industry.
Twenty-five years ago we started building an Internet of Computers. Fifteen years later it became an Internet of Smartphones. Today, based on billions of connected devices, smart sensors, and online appliances, it is becoming an Internet of Things (IoT). And just as the original Internet revolutionized commerce, many suspect that today’s Internet of Things may have a similar impact. This session grounds participants in the IoT landscape, the key commerce-related use cases, and likely payment implications.
In recent years, wearable technology has arrived in a big way –– fitness bands, smart watches, tracking devices, cameras, and health monitoring devices to name just a few. This session is designed to introduce participants to the world of wearable technology and the obvious and not so obvious linkages to payments.
The person-to-person or P2P domain is at once one of the simplest domains of payments yet also one of the most sophisticated. It’s as simple as a mother handing her teenage daughter $50 to go shopping with her friends or as sophisticated as a Facebook Messenger transfer from one card to another between friends. This session is structured to help participants see the common design behind contemporary P2P systems and appreciate the distinctive characteristics of each.
