The Bancorp, Inc. (NASDAQ: TBBK), today announces the release of its next Finetics™ Studio interview series: “European Payments Trends,” featuring Pat Patel, Content Director at Money20/20 Europe; and Kriya Patel, The Bancorp’s Managing Director of Payment Solutions in Europe.
Filmed from the Money20/20 show floor, the exclusive interviews cover trends and developments specific to European payments systems and look ahead to the upcoming Money20/20 Europe conference, which will take place April 4-7 in Copenhagen.
“The opportunities and challenges within Europe are completely different than what’s going on in the U.S. marketplace. For example, Europe has made great advancements in its back end systems and great strides towards reducing cash. Many companies in the U.S. have developed very engaging consumer-facing UX propositions,” explained Pat Patel. “In Europe, we’re seeing many startup propositions in the fintech sector with great UX for consumers engineered purely for mobile and online channels.”
“We see quite a lot of drive in Nordic countries with mobile-based technology and contactless adoption,” said Kriya Patel. “Even a few years ago, the Netherlands’ government made an announcement about elimination of checks, because the administrative overhead makes no sense.”
Both guests believe that the growth of fintech communities around the continent and changing regulations will continue to spur payments innovation.
“Some opportunities are going to emerge from regulation in Europe, especially with domestic and regional legislation seeking to foster competition and open access to payment systems,” explained Pat Patel.
“If you look at the U.K. and the creation of the payments systems regulator, that’s very much about allowing folks to come in and challenge the traditional banking operators,” added Kriya Patel.
Looking to the future, Kriya Patel predicted, “If I’m perfectly honest, it’s not the traditional banks that are going to drive the new technology in payments forward, it’s going to be the challenger banks.”
The release of these videos supports The Bancorp’s Finetics™ Studio video series, which features exclusive, one-on-one conversations with more than 30 of the financial services industry’s most influential and innovative executives, launched late last year.
The interviews, conducted by Sarah Gill, senior reporter with PaymentEye, cover topics ranging from the future of payments innovation to regulation and fraud and have been released on The Bancorp’s fineticsblog.com throughout early 2016. The Bancorp will attend Money20/20 Europe and be available at booth C10.
Finetics™ Studio participants include the following executives: