Money20/20 Europe, held in Amsterdam, is a key event for the fintech and payments industry. This year's event saw a big increase in participation, showing the sector's growing importance. Bringing together top players from around the world, it offered a platform for networking, sharing knowledge, and exploring new trends. Ward Hagenaar and Jeroen van Dijk were there to represent us, in this article, we shared their vision of the event experience. We also used the opportunity to invite some of our partners to the annual PaymentGenes boat event. Giving and getting a chance to chat with some industry leaders, alongside this event. And our colleagues Simon Stokes and Harrison Williams also contributed by shedding light on key industry topics.
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Ward, our Head of Consulting and an experienced attendee emphasised the value of the event in fostering connections and facilitating the exchange of ideas. "Money20/20 brings together people from all over the globe, for a few days packed in an incredible location. [...] It's extremely efficient because you meet 25 people on a personal level in a few days, which is otherwise not doable." The event's organisation and thematic focus on sustainability and financial inclusion were particularly commendable. He appreciated the opportunity to meet numerous industry peers in a short span, something that would be challenging outside such a setting. According to Ward: The only downside of having numerous engaging conversations is that it distracts participants from attending the presentations. One possible solution is to shorten the timeslots for individual meetings, ensuring more presentations are attended.
While Ward found it difficult to pinpoint a single trending topic due to his engagement with clients and prospects, he identified embedded solutions as a significant area of focus. "We need to offer solutions close to where transactions happen, where consumers buy, where they consider paying now or later” he explained. This trend aligns with the broader shift towards convenience and adaptability in financial services, catering to consumers' evolving needs and financial situations.
Our Head of Consulting also observed a maturing fintech landscape. The initial belief that fintech would completely replace traditional financial institutions has evolved. "Fintechs need to prove their reasonable meaning to get a sustainable position in the market," he said. This maturation signifies a more collaborative approach, where fintech and traditional financial institutions coexist and complement each other.
"Fintechs need to prove their reasonable meaning to get a sustainable position in the market." - Ward Hagenaar.
Simon Stokes, CCO at The Conexus Group industry, shared his enthusiastic view of Money20/20, describing it as "probably the best event in the payments industry." He noted the positive shift in the industry's outlook compared to the previous year, with more companies participating and an overall upbeat atmosphere.
Addressing the current challenges in the finance industry, Simon highlighted the importance of partnerships. "In our industry, we have always had what we call co-opetition," he said, referring to competitors working together for mutual benefit. This cooperative approach is seen as crucial for the industry's future, enabling firms to leverage each other's strengths and navigate the competitive landscape more effectively.
Simon also mentioned his work on building an M&A practice within Connexus Group, focusing on fintech and payments. The practice is gaining significant interest, with many organisations looking to acquire assets and capabilities for new market entry or divest certain operations for profit. The dynamic M&A environment underscores the industry's growth and the strategic maneuvers companies are making to stay ahead.
For Jeroen van Dijk, our Managing Director, the primary value of Money20/20 lies in the networking opportunities. "It's a massive opportunity to meet people you work with, especially in the era where we work together digitally," he said. Hosting the event in Amsterdam, his hometown, added a personal touch, allowing him to welcome colleagues and friends from abroad.
He views the event as an excellent platform for building relationships and trust, which are vital in the professional world. While knowledge sharing is an essential aspect of Money20/20, Jeroen attends primarily to connect with professional friends and business partners, reinforcing existing ties and forging new ones. Having that said, the EPI initiative/challenge taken on by a collective of European banks is impressive and rightfully so a highlight of the conference. And that was a week after the launch party of the new Ideal in The Netherlands. Exciting times.
Jeroen took the opportunity to mention that 2024 was particularly special for PaymentGenes, as we celebrated our 10th anniversary. “Events like Money20/20 provide an ideal backdrop for such celebrations, bringing together key stakeholders and offering a venue to showcase achievements and future plans.”
Harrison Williams, our Team Lead in Barcelona, attended Money20/20 with a focus on recruitment. The event's scale and the presence of world-class companies provided valuable insights into the latest trends and developments in the fintech industry.
For a global talent acquisition company like PaymentGenes, meeting clients face-to-face is a rare and valuable opportunity. It allows for deeper connections and a better understanding of client needs, which is crucial for matching talent effectively. Harrison emphasised the importance of staying abreast of industry trends to evolve as a business and continue providing top-notch recruitment services.
“I think this event is massive for a company like ourselves. It gives us access to world-class clients and allows us to understand businesses on a deeper level, ensuring we find the best possible matches when we go and look for talent.” - Harrison Williams.
The insights from industry experts like Ward, Simon, Jeroen, and Harrison highlight the multifaceted benefits of Money20/20. Whether it's the focus on embedded solutions, the evolving fintech landscape, the importance of partnerships, or the significance of face-to-face interactions, the event offers something valuable for everyone involved. As the fintech industry continues to grow and mature, Money20/20 will undoubtedly remain a cornerstone for those looking to stay ahead in this fast-paced field.
