Overview

FINTECH

Second year of the Fintech Community launched

On January 16 in Milan the first event of 2019 will be held to discuss “Digital assets as drivers for innovation in banking processes”. Speakers will include Giacomo Zucco, director of BHB Network and founder of Bcademy, and Gianluigi Guida, legal consultant to the Italian Minister for Foreign Affairs the Hon. Savona, with special responsibility for Fintech, Blockchain and Startup.

Second year of the Fintech Community launched

The strategic importance of Fintech can be summarized in three factors.

First, Fintech modifies the structure of financial markets and the competitive arena of the sector through the entry of technological startup, information technology “giants” and social media, and this requires a strategic response from incumbents.

Second, technology impacts on the coreactivities of banking institutions (payments, credit, wealth managementand investment banking) with structural reductions in traditional operating margins.

And finally, the client, including business clients, is in the forefront of adopting new services and therefore also looks to financial institutions to bring their service model in line with what the client experiences daily through smartphonesand social media. This means that the traditional financial institutions which adopt a “wait-and-see” strategy risk finding themselves suddenly out of the market.

Competing with high-tech giants requires a long-term perspective, the ability to respond quickly, the capacity to innovate and resources. The choices made by institutions could also have significant impact on the job market and, in the final analysis, major social consequences.

This is the context in which the Fintech Community of The European House – Ambrosettiand Banca IFSwas created in 2017. The Community brings together stakeholders and key policy makers to promote the development of an entrepreneurial ecosystem capable of seizing the opportunities arising from the digital revolution in financial services to create value for all players involved. Within an interconnected system, the maturity of Fintech will have increasingly significant impact also on the Italian market with the major banks andspecialty/niche banksproviding impetus to the domestic development of the main technology-related areas, and vice versa.This is the area of investigation for the second year of the Fintech Community, follow the success of its first year.

The 2019 program will kick off on Wednesday, January 16 with a meeting to examine “Digital assets as drivers for innovation in banking processes” (4:30 – 7:00 pm); the second will be held on Thursday, February 7 to discuss “Artificial Intelligence and banks: opportunities and risks” (4:30 – 7:00 pm); Wednesday, March 13 will see the third meeting on “Current and future scenarios in the banking sector”(4:30 – 7:00 pm); and the “FinTechnology Forum”will be held on April 16 (9:30 am – 1:00 pm, in Milan).

“Following the tremendous success of last year’s program, we are very pleased to announce that we have decided to continue our commitment to developing Fintech in Italy and contribute to its evolution and internationalization through our Fintech Community. As the no. 1 private think tank in Italy, The European House – Ambrosetti continues to set itself the goal of facilitating the technological transformation of the financial sector by promoting a fruitful dialog among policy makers and key stakeholders, incumbents and new entries, both nationally and internationally,” says Valerio De Molli, Managing Partner and CEO of The European House – Ambrosetti.

“Banca IFIS believes strongly in the innovation approach and the initiative launched a year ago with the Fintech Forum which has now become the Community,” comments Giovanni Bossi, CEO of Banca IFIS. “The goal this year is to consolidate the ecosystem created during the first year with an even more operational approach, that is, approaching the high-tech technologies for financial services within an atmosphere of open innovation. The Fintech Community offers the opportunity for cross-fertilization from which we expect to draw tangible growth of our digital culture within an increasingly challenging context that requires of us operational efficiency and, therefore, rapidity, without ever compromising service quality.”

BOX:

Wednesday, January 16 at 4:30 pm at the Fintech District in Milan, the first meeting in 2019 on “Digital assets as drivers for innovation in banking processes”.

Although many cryptocurrencies are bought and sold for speculative purposes, many applications are emerging based on Blockchain and, more generally, Distributed Ledger, which have the potential to modify at the roots the structure of a number of financial processes and thus redistribute the “cost of trust” along the value chain. Priority themes including:
- New rules of the Token Economy
- Smart Contracts
- ICOs (Initial Coin Offerings) and their role in corporate financing
- Consumer protection

How can financial institutions benefit from this new technology originally conceived and developed as a purely peer-to-peer e-money instrument? Is there scope for applying the principles behind Blockchain to other “traditional” banking processes to guarantee increasingly-high standards of security and storage of transaction data? We will be analyzing how digital assets are being transformed from a technology “to surpass the credit big guys” into instruments that all major finance players are interested in developing.

Speakers:
- Markus Costabiei, CEO, Akarion
- Gianluigi Guida, legal consultant to the Italian Minister for Foreign Affairs the Hon. Savona, with special responsibility for Fintech, Blockchain and Startup
- Luigi Macchiola, Director General, Assilea
- Massimiliano Nicotra, Lawyer, University of Rome “Tor Vergata”
- Corrado Panzeri, Head of InnoTech Hub, The European House – Ambrosetti 
- Nicolò Romani, Head of Innovation, SIA
- Giacomo Zucco, Director, BHB Network & Founder, Bcademy

Moderator: Mariangela Pira (Journalist, Host, Reporter, Sky Italia)

The European House – Ambrosetti
Communications & Media Relations

Fabiola Gnocchi
Cell phone: +39 349 7510840
fabiola.gnocchi@ambrosetti.eu

Banca IFIS S.p.A.
Press Office

Eleonora Vallin
Cell phone: +39 342 8554140
eleonora.vallin@bancaifis.it


Read the press release


TAGS: .


Leave a Reply

The comments, personal data (name and/or pseudonym) and any other personal information included by the Data Subject in the published comments will be disseminated on the website in keeping with the request expressed by the Data Subject. See the complete information policy.
Read and accepted

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

We appreciate your comments. We reserve the right to remove the sentences deemed offensive.