Evolving the Banking Model: How Banks Can Unlock Value With Novel Tech 2022 | Finextra | 17 October 2022 | Online

The ability for banks to survive in financial services is increasingly connected to their agility and ability to adapt at speed. This is a result of the increasing pace of technology acceleration, regulatory pressures and new entrants bearing down on the dominance of incumbents.

These new elements are acting as a catalyst for the evolution of the traditional banking model, into new structures which are not only able to better meet the security and compliance demands of a digital world, but can leverage more abstract concepts. Growing interest in movements such as the Metaverse and augmented reality, as well as increased engagement with artificial intelligence and blockchain, are examples of how financial services are capitalising on new tech opportunities to better serve their customer base and build value-added services.

Cloud will form the backbone of these new banking models, allowing financial institutions to keep pace with the rapidly evolving tastes of digital customers, and will reinforce banks’ ability to innovate in line with this demanding market.

To join the panel of industry experts as they discuss the following areas:
• What are the key catalysts driving the evolution of the traditional banking model?
• How are we seeing these new banking models take shape within financial institutions?
• When digitising their services, how can banks and financial institutions benefit from BaaS and embedded finance?
• What concerns around new banking models, particularly hybrid models, are emerging? (e.g. security)
• How can technology work to ease these concerns?
• Is the emergence of new banking models leading to a market with greater appetite for highly innovative concepts? These may include blockchain, AI, the Metaverse, and augmented reality or banking platformisation?
• What role does cloud play in financial institutions’ efforts to keep pace with evolving banking models?

2022 Speakers

MODERATOR:

Gary Wright
Head of Research, Finextra

SPEAKERS:

Nicolas Kozakiewicz
Innovation Executive Advisor, Worldline

Andrew Smith
Chief Technology Officer, ClearBank

Philip Kinlen
Head of Research and Innovation, Allied Irish Bank (AIB)