Must Attend Talks at the Money2020 Conference for Payments and AML Professionals

On: October 19, 2017

To say that the financial services sector is being disrupted is probably the understatement of the century. This, of course, comes on the back of a number of drivers, namely the increasing use of online and mobile banking, changing consumer expectations and new technologies, such as machine learning and block-chain that change payments and merchant services industries as we know them.

FinTech is rapidly evolving, as new regulations such as PSD2 and Open Banking open up new opportunities for innovative startups, disrupting the space occupied by incumbent financial institutions. Investment in Fintech has surged in 2016, Innovate Finance stating that global investment in Fintech companies in H1 of 2017 reached $6.5 billion.

On the back of this financial storm rides the Money2020 conference. Self-hailed as the largest global innovation event in the financial services sector, this conference is mega, with 11,000 attendees, 4500 companies, and over 400 speakers. This conference, like the financial sector itself, is big.

What stands out about this conference is that it is a major showcase for new approaches and technologies within the sector. It is jam-packed with global leaders and thinkers in the payments and financial services space. Important areas like transaction laundering and fraud, are given much focus across the various tracks of Money2020.

Throughout the conference, EverCompliant will be running booth 1439. We will be demonstrating how our innovative and proprietary cyber intelligence technologies can mitigate your merchant risk around transaction laundering.

For an insight into what factors do the leading global venture capitalists take into account when investing in FinTech technologies, do not miss “Investor perspective on the globalization in FinTech” panel discussion on Sunday.  Panelists, including the VC heavy-weights such as  Melissa Guzy, co-founder and managing partner from Arbor Ventures, will discuss investment priorities, current trends, lessons learned and predictions for 2018.

Money2020: Must Attend AML and Compliance Sessions

Money laundering and fraud are not the areas financial institutions can ignore. There are a number of excellent sessions tackling the security and trust that are essential components of payment systems.

  • Craig Boundy, CEO of Experian is giving a talk on “2017 Global Business Trends: Protecting Growth Ambitions Against Rising Fraud Threats“ which looks at how to handle increasing threats from cybercriminals using technologies like machine learning. Boundy states that, on the subject of credit reporting and fraud, Experian is  “striving for perfection, and taking tangible steps, with real investments, to further enhance accuracy”. In light of the recent Equifax breach, we are looking forward to hear Craig’s thoughts on the subject.
  • Another session that is worth catching is “Batten Down the Hatches! Preparing for a Perfect Storm for Card Not Present Fraud”. As the title suggests, this panel-based session will look at the threat of fraud in card not present services and money laundering. Mike Gramz of YapStone is one of the panelists, Gramz spent 17 years at Bank of America where he was instrumental in delivering their merchant services.
  • If you want to learn more about transaction laundering, the new advanced form of money laundering, make sure to drop by EverCompliant booth number 1409. Do not miss Alasdair Rambaud, our CRO and transaction laundering expert on the conference floor! To schedule a meeting, click here.
  • An important briefing in the track on regulatory compliance is the session by Dan Quan of the Consumer Financial Protection Bureau and Eugene Ludwig CEO of Promontory. The session will look at the balance between regulations, Fintech entrants, and consumer trust. Dan Quan heads up Project Catalyst which wishes to start “…encouraging consumer-friendly developments in the marketplace, such as extending affordable, responsible lending to more people. At the same time, we must ensure companies play by the rules.”

Money2020: Must Attend Artificial Intelligence and Machine Learning Sessions

AI is making big changes across the board, and the financial sector is not an exception. Money2020 is holding a special AI Deep Dive event with a number of world-leading thinkers in the space.

  • Check out the panel “Bank to the Future: Where We’re Going Do We Need Banks?” with David Birch of Consult Hyperion, Dave Ellis of Wells Fargo and Brett King of Moven. David Birch is famed for stating that “Identity is the new money”.
  • One interesting session is around using voice-activated payments. As machine learning voice-based virtual assistants like Alexa and Siri become ubiquitous, payments can utilize these mechanisms for authorization. This session is being held by Brian Roemmele of Multiplex, and Rami Thabet of RBC. Mr. Roemmele tweets that “In a word, Siri will be very prominent tomorrow…”

If you want to be up-to-date on the latest innovations and ideas in finance and payments, head on over to the Venetian Hotel, Las Vegas, on October 22-25 for the Money2020 conference. EverCompliant will be there to showcase state-of-the-art transaction laundering technology in action. And, what happens in Vegas, doesn’t need to stay in Vegas, so, see you there!

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