Oracle and Nasdaq put together a high profile Financial Services Innovation Summit last week in Boston and New York, and we at Difitek were glad to share our insights on stage at the Nasdaq about where enterprise fintech adoption is happening and what we are expecting around the world.
We specifically talked about new business streams and monetization strategies, and how ecosystem strategies will dominate. By ecosystem strategies, we mean the partnerships with specialized service providers to deliver unrivaled client experience.
Jim Marous from the Financial Brand held a fantastic keynote to set the stage for disruption and the call to action for how the future’s consumer will demand us to revolutionize our approach and even ourselves. We also heard from leading authorities at Citi, J.P. Morgan Chase, IPSoft and of course, Oracle’s experts in financial services and fintech.
Discussions revolved around several themes and the brilliant panelists shared insights from rolling out digital operations across the world and partnerships with tech challengers, but I wanted to take a moment to summarize some of the main points and attempt to put our thumb on the pulse, especially as it relates to enterprise financial services and digitalization.
Here are 9 takeaways from the event at Nasdaq in Times Square:
* I needed to put an asterix here to note the absurdity of this proposition (point 3). The use case is depositing your own funds, to your own bank account – why would you not have instant access to your funds? This example is very US centric with its checks, yet the proposition is absurd for a digital native. If someone else holds your funds, why aren’t they paying you? Some of these preconceptions around existing models are so engrained in our thinking, that we don’t even think to question them. Gladly having a global perspective shows regional differences and brings these types of ‘mental traps’ to light.
We want to thank both Oracle and the Nasdaq for including us at Difitek into this discussion, as well as the fantastic audience, speakers and panelists for the very frank and insightful discussion. We all agree the future of financial services is different than the past and we’re looking forward to working with leading innovators in delivering on this challenge.
Internationally awarded digital finance entrepreneur, active in pioneering new securities models worldwide. Has worked in digital finance since 2009, recruited over 100 individuals, built up a operations on six continents and been recognized as one of the top 100 thought leaders in crowdfunding. Markus has pioneered new funding models in the US and Europe, advised policy makers worldwide – including the SEC, the European Commission and Italian regulator CONSOB – for more effective markets, and worked with visionary organizations such as the World Bank and the Kauffman Foundation to improve frameworks for digital finance. Markus has studied computer science and economics (M.Sc).