The Evolution of Digital Payments: Entering a New Era

The pandemic has decentralized businesses across the globe and consumers have been forced to conduct their financial lives in the digital world. Financial Service consumers have changed and so have their expectations. Is your business positioned to adapt to new consumer expectations and the pace at which they will change?

Gain an understanding of how you can leverage the benefits of the cloud to create nimble capabilities over three core themes:
Customer experience and the quest for personalization.
Creating a partner network to offer more to you customers with ease.
Data’s role in a nimble business.

Clive Humby, a British mathematician, originally coined the phrase "data is the new oil" in 2006, and ever since then, we have been familiar with this analogy. The idea behind the "data is the new oil" concept is that, as raw oil, raw data isn't valuable in and of itself; instead, value is generated when it is obtained thoroughly and accurately, connected to other relevant data, and done promptly.

We're in a digital economy where data is more valuable than ever. Cost-effective and efficient data storage, super fast and affordable processors, plus advancements in AI and other data-centric sciences have made it possible to extract massive value out of data. It is no surprise that the most valuable companies in the world are all data-driven. They are offering top-notch services for free in exchange for some personal data. Considering this, nowadays, the "data is the new currency" concept is more precise than "the oil" analogy. How accurate is that statement, though?

We will go through this by exploring how to leverage data to get the most of it and discuss the following:
-Innovation: Improving customer experience with AI
-Excellence: Using cloud, data and AI for better operational resilience
-Frontiers: Shifting from data-driven to AI-driven business
-Barriers: What are the limits and constraints on using the data

This webinar will discuss:
- Claims settlement
- Back-office operational efficiencies
- Policy pricing
- New client on-boarding
- Automated payments

The landscape of payments has been impacted drastically over the past 12 months as a result of the Covid-19 pandemic. Accenture has predicted that $7 trillion worth of transactions will have moved from Cash on Delivery (COD) to cards and digital payments by 2023. The very fabric of the payments industry has shifted, and as COD transactions decline, and the world of ecommerce and online payments increasingly becomes more popular, it is crucial to stay up to date with trends, tools, and considerations. As the industry continues to evolve, considerations from customer experience to data security have never been more important.

In this panel, we’ll take a look at the payments industry, and what it means to be in a ‘payment revolution’.

Join expert thought leaders as they discuss:
- The impact of Covid-19 on digital payments
- The tools needed to keep data protected in the digital world
- How to protect customer experience, when the landscape of payments is constantly changing

Speakers:
Aly Madhavji Managing Partner Blockchain Founders Fund
Berhan Kongel, CEO, Arf
+ others TBD

2021 has seen digital payments adoption continue to grow exponentially. Payments regulations intended to protect consumers from fraud are more important than ever. One such regulation is Strong Customer Authentication (SCA), part of the Second Payment Services Directive (PSD2). Yet, research from CMSPI found that 24% of online card transactions could fail when 3DS is introduced. Moreover, research from Nuapay shows that 52% of UK consumers choose their payment method based on convenience and ease of use. With all this in mind, how do businesses balance the need for reliable, frictionless customer experiences with secure payment alternatives.

Enter the mobile phone, and its value delivering secure frictionless payments.

Join Open Banking payment pioneer Nuapay, with a range of experts in the mobile payments, cards and risk space, to learn how payments are changing, and how mobile applications can help strengthen authentication and improve your customer experience - all at the same time.

Speakers:
Nick Raper, Head of UK, Nuapay
Neil Garner, Founder & CEO, Thyngs
Riten Gohil, Director & Co-Founder, Sphonic
Jonathan Vaux, General Manager EU, i2c Inc

Our ability to receive, compound, process, interact with and export all data in the known universe is a lifelong journey, made evermore urgent with the introduction of evolutionary technologies, including Data Fabrics, IoT, Blockchain, and Biometrics.

Every moment we interact with IoT devices, there is new data being created that compounds our interaction further. Data begets new data. Knowledge begets new questions. The more we begin to realize and interact, the greater the data flows into our infinitely expanding databases.

The Largest Proprietors of Data Caches on the planet, such as Facebook create less than .01% of their own data. The average time people spend on their phones and devices is increasing dramatically, which in turn creates endless, easily procurable data for systems to process, compound, store & distribute.

Learn how IoT presents a unique opportunity to bring computable anonymized data to networks. This, in turn, fuels the global evolution and adoption of biometric technology integrating with common everyday activities that must be secured, such as:
-Logging into a banking app
-Secure access to web 3.0
-Blockchain integration
-Geolocation validation for payments and secure voting
-Access to the ever-expanding VR and AR worlds

Permissionless Authentication is on the forefront of a groundbreaking revolution in the way organizations, institutions and enterprises of every scale interact with their partners, employees, users, and customers. Biometric verification and authentication provide endless opportunities to ensure ease of use and the highest levels of security in the worlds of IoT and Big Data.

Speakers:
Brian Maw, CEO, Finnovant
Chris Benedict, North America Sales Lead, Finnovant
Cody Dyer, Head Of Business Development, Governor DAO

There is a trend for using No code Platforms in health care and insurance. No code platforms help insurance companies to radically improve the time to market and delivery of Life, Annuities, Retirement, Accident, P&C consumer, commercial, and Speciality products. Insurance companies can sell their product across different business lines and distribution channels. Digital Transformation in insurance sector can be enabled easily using no code platforms. Applications can be created using drag and drop actions and deployed using DevOps hence reducing total cost of ownership. APIs can be used to integrate with legacy systems. Application can have plugins to configure the APIs.

According to Gartner's report in January 2021, by 2025, 70% of new applications developed by enterprises will use no-code or low-code technologies. This has increased from 25% in 2020 to 70% in 2021.Gartner Magic Quadrant for Enterprise Low-Code Application Platforms has Mendex and OutSystems as two top low-code platforms. The others are Microsoft, Salesforce, Appian, Betty Blocks, Pega, ServiceNow, and Oracle. Forrester lists out OutSystems, Mendix, Microsoft, Salesforce, and Kony as the low-code development platforms for application development.

Insurance enterprises are looking for digital transformation platform. They are planning digital transformation initiatives for post covid recovery and to accelerate their business processes .No code platforms can help both insurance and health care companies to get started on their digital transformation initiatives. Customer experience can be improved by using the no code platforms instead of custom application development. No code platform can help to create applications easily compared to traditional application development. Team can collaborate easily by looking at the functionality, changes, and deployed application. The platform can help in cutting down the build, resource, and maintenance cost.