XIV Bank Summit on Innovations and Development: Practical Aspect of the Key Financial Market Trends
The XIV Bank Summit on Innovations and Development was held on April 26-29, 2017 in Limassol, Cyprus. 220 delegates from major Russian banks, insurance and global technology companies, telecom operators, as well as professional financial market associations and the expert community, discussed the pressing challenges for all financial market players.
During his 14th welcome speech,
Alexander Pogudin, Member of the Board of Directors of CFT Group and Chairman of the Summit Program Committee, mentioned that CFT was solely the organizer and author of the event concept. He also remarked that the main goal of the event was comprehensive discussion of the practical aspects of the financial sector development under the new economic and technological conditions.
The topic of the Summit-2017, "Financial Industry in the Digital Era: Adaptation Practice", not only set the motive of the discussions but also predetermined their fierceness. The special guest of the Summit was
Patrick Dixon, British business consultant and futurist.
Over 50 official expert speakers took part in the Summit debates and topical sessions and discussed with their market colleagues the nearest future (2-3 years) of the financial services industry, customer facing strategies for creation and promotion of digital products, and the readiness of the financial market players to blockchain infrastructural projects, and took part in violent disputes on the topic "Financial Supermarket or Financial Marketplace".
Adaptation to the new digital reality is inevitable, if the market participants wish to develop their business. However, along with the ever-growing inroads of fintech in the banking – and payment – sector, one should keep in mind the high standards of information security and compliance. In particular, this point was mentioned in the welcome letter from
Pavel Livadniy, State Secretary and Deputy Director of the Federal Service for Financial Monitoring.
Maria Mikhaylova, Executive Director of the Russian National Payment Council Association, read the letter to the Summit participants, and it stated that when transferring to the digital format of financial and payment service rendering,
"it is important to thoroughly analyze beforehand the potential risks borne by new products and functionality".
Diverse in its topics and formats, the Summit program allowed successfully solving the central task of the event – to clarify the main market vectors, correct the industry-wide views of the payment sector development, and exchange not only opinions – but best practices as well.
The general partner of the XIV Bank Summit on Innovations and Development was Nutanix, developer and producer of the hyperconverged platform Nutanix Virtualized Platform. The partners of the Summit were Oracle, IBM, Hewlett Packard Enterprise (HPE), Hitachi Data Systems (HDS), Ingenico, and INPAS.
Summit XIV in pictures >>