This year’s edition of FINNOSUMMIT, the most important Fintech event in latin America, took place on September the 12th and 13th at the Centro Cultural Roberto Cantoral in Mexico City. Over 1500 investors, entrepreneurs, financial institutions representatives, consultants and high impact executives from 15 different countries attended the conference
At this original keynote, Mick Simonelli (Troublemaker | Board Member and Thought Leader, Financial Services Innovation) makes an analogy between arm races, where only those with the better technology succeed, and the competition in the financial industry. In the speaker’s opinion, the power of innovation is essential for both to win the battle.
Big financial institutions now must innovate in two ways: in one hand, in the way they work on a daily basis which implies, according to Mick that they must go digital within a maximum period of one year. On the other hand they must change the way they address transformation and disruption, which, in the financial industry means, in the speaker’s opinion, to focus on deploying technologies such as Big Data, Internet Of Things, Blockchain, Artificial Intelligence and cybersecurity. Both parts are needed in the expert’s opinion, who believes every financial institution has to be digital now, but, according to him ” Y ambas partes son fundamentales para Mick, para quien cualquier institución financiera en la actualidad debe ser digital, pero, según aseguró, “if it is the only thing you are doing, you are losing. You also have to be transforming”.”
Don’t miss the video of the full keynote: