This week Copenhagen held the first European Money2020 conference, showcasing the global fintech industry. The talk on the conference floor seemed to evolve around the rise of "neobanks", or app-only banks, machine learning and AI capabilities and (not surprisingly), the shift in valuations towards more sane numbers. It took some time, but seems the industry is clear now that banks will not crumble to the ground, but will rather partner with new fintech startups to generate better, cheaper and sexier services for consumers.
The Money2020 Europe conference in full swing. I’ve just got back from the first ever Money2020 Europe conference in Copenhagen. The event is making a play to be the leading fintech — financial technology — industry get together on the continent. The sister conference in Las Vegas is already well established and, thanks to that brand, Money2020 managed to attract an estimated 3,000 people to Copenhagen over 4 days. There were banks, startups, unicorns, investors, smartphone makers, payment companies, and, uh, Google, however you categorise it these days. In short, it was a pretty good cross section of the industry right now. Here’s some of the key takeaways I got from the conference: