Money 20/20 Europe Wrap up 2024

Money20/20 Europe in Amsterdam has wrapped. It was a fantastic meeting of some of the biggest and best names in fintech, finance, and beyond. 

With thousands of delegates, companies, and speakers in attendance all discussing the frontiers of money, digital transformation, artificial intelligence (AI), and how to serve customers; the event proved yet again to be the best place to see what the future of finance holds. 

AI (Almost) Everywhere, Doing (Far From) Everything 

The conference got off to a great start, Scarlet Sieber, Chief Strategy & Growth Officer at Money20/20 and her AI co-host, Aiana, kicked things off at the N.a.i.ture stage. Where an overarching theme of the conference was at play, Human by Machine. Exploring how AI and humans, and how we can bring out the best in each other. In line with this theme, Fenergo announced the launch of our AI solution that achieves exactly that. 

We shared the need for AI solutions to the obstacles facing effective Client Lifecycle Management (CLM). Fenergo’s approach to AI arrives during a period of increased regulatory flux and financial crime sophistication. 

A common theme of the day was what AI tools need to be used and how AI can be deployed while keeping clients safe. Fenergo’s AI capabilities automate labor-intensive and time-consuming tasks related to client onboarding, due diligence and regulatory reporting. Reducing the amount of time analysts spend on data-heavy tasks and allowing them to focus on revenue-generating activities. 

An overriding sentiment throughout the conference is that people and AI need to work together to achieve outcomes that will improve the financial industry. It’s not a case of anyone being replaced by AI but leveraging AI to focus on data-heavy and repetitive tasks so that people can focus on unique situations.

Meetings, Media, and Disruptive Behavior

Disruption has always been a key issue at Money20/20, with so many of the companies present seeking to redefine what it means to operate in the financial industry and serve clients. 
Clients are always at the heart of what we do at Fenergo. Our approach to Client Lifecycle Management serves them in the best way possible by removing inefficiencies and providing a faster, more effective compliance experience. 

The Fenergo stand, located right by the Money Beach Club, was buzzing with activity throughout the conference. Whether it was our packed Demo Jams, showcasing our best and most innovative use cases, delegates coming for meetings, or visitors in search of the best coffee at the venue, the Fenergo stand was constantly active. 

We also had the chance to meet with some great media and analysts covering the industry. Omdia met with us to discuss efficiency gains possible using AI – which we shared to be up to 72% in some cases.

Payment Services Providers (PSPs) have become a foundational part of the future of financial services, which is obvious not only from their market presence but their presence at Money20/20.

Fenergo Chief Strategy and Marketing Officer, Stella Clarke, spoke with Financial Promoter as to the challenges PSPs face, and that while they may have similar regulatory obligations to banks and other financial institutions, often their internal infrastructure is very different and presents its own unique challenges.

While PSPs have always been an integral part of the fabric of Money20/20, it was refreshing to see how the attendees have broadened in scope. Financial institutions of every stripe were there. 

Beyond Networking

Money20/20 has always had top notch networking opportunities, from impromptu meetings at the Connections Lounge, talks at the vibrant stands, and brilliant post-show events. 

Money20/20 Europe 2024 was a resounding success. It provided a true overview of the current state of the industry and what the future holds.

One thing to take away from the event is that, while technology is accelerating and AI is poised to do more rote labor than ever, people are at the forefront of driving financial services and bringing innovative solutions to real problems.

Talk to Fenergo about your place in the future of finance today.