Trends in the financial industry are moving towards innovation significantly driven by technologies and collaboration, or integration into the Fintech ecosystem and towards a continuous digital transformation, and an advanced role of AI and robotics.
The year 2023 will represent a technological transformation, with main trends related to cloud migration, the use of DevOps and multichannel strategies. Banks must focus on the development of customer-oriented products, towards a new customer-experience that is driven by data analysis, data-driven and cross-channel. It will need to look more at embedded-finance, banking-as-a-service, modernization of core applications, and better management of IT spend and related services.
To summarize the priorities of financial services organizations, that we are no longer talking about banks, insurers, but a new generation of financial services companies, will be the improvement of the digital experience of customers, the development of data-analytics capabilities and the reduction of operational costs.
Each of these priorities can be directly addressed through FinTech solutions, whether we are talking about AI, blockchain, robotics, big data, etc., to ensure more customer-centric services, develop the best organizational practices, and achieve the best results through innovative technologies.
But an essential trend, beyond the actual technology, is the development of new skills, both technical and at the level of banking specialists, economists, for the design of business products and new organizational models, especially since the world of the metaverse is approaching in the next decade.
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AGENDA
14.00 – 14.05
Introduction: Yugo Neumorni, President CIO Council Romania
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14.05 – 14.25
Session title: Evolution, revolution and back
Synopsis: In a world where change is the common denominator, new concepts and trends continuously appear. How many of them are the seeds of revolutions, how many are evolutions in a financial-banking world that is basically a follower and not a promoter. In this case, where did the technological revolutions come from?
Speaker: Călin Rangu, Vice President CIO Council
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14.25- 14.45
Session title: ENHANCING SECURITY AND REDUCING FRAUD IN FINTECH
Synopsis: Reduce fraud-related losses by 20% within the first year. Enhance customer trust and retention by providing a more secure platform. Strengthen compliance with financial regulations and data protection laws. Scop: Implement AI-powered fraud detection algorithms. Incorporate blockchain for secure and transparent transaction recording. Initially focus on credit card fraud detection and secure payment processing.
Speaker: Dragoș Stănescu, CIO Syngenta, CIO Council Romania Member
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14.45- 15.05
Session title: Banking trends
Synopsis: Is 2024 the year of the rise of FinTechs? The explosion in personal finance management is largely due to Open Banking, which allowed specialized fintechs to enter the market, offering them secure access to information on accounts and transactions. Fintechs analyze this data, aggregate it and interpret it with the help of Artificial Intelligence, transforming complex sets of information into easy-to-use digital tools to determine the “next best action”, a customer-focused strategy that prioritizes meeting the unique requirements of to each customer through personalized offers, services or promotions. In the future, every company will become a fintech, with the help of Open Banking, Banking as a Service, Big Data and AI, consuming in real time reliable APIs exposed securely.
Speaker: George Lazar, CIO Council Member
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15.05 – 15.25
Session title: Artificial Intelligence. White Paper.
Speaker: Bogdan Tudor, Vice President CIO Council Romania
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15.25 – 15.45
Session title: The major role of digital identity for the fintech industry
Synopsis: Fintech companies and fintech activities of financial-banking institutions cannot function without GDPR and AML compliant digital identity. Equally important, however, is the trust and experience financial consumers have when remote digital identification is required. The balance between compliance and commercial can be maintained through continuous innovation and fintech companies are the only ones capable of innovating both financially and technologically.
Speaker: Nic Bălăceanu, CEO, Lendrise
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15.45– 16.00
Conclusions
Moderator: Yugo Neumorni, President CIO Council Romania
Some presentations or panel discussions may be held in English. There will also be a live chat where you may ask questions during the webcast.
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