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The big themes from Money20/20 Europe

Back at Money20/20 Europe in June 2019, the last live version of the European event, the hottest areas were payment processing, AML/KYC “AI” and banking/payments as a service. Two years on, whilst processing and X-as-a-service is still hot, a few other areas are coming into focus.

  • Everyone wants to build a better, faster, cheaper, dis-intermediated set of rails (maybe using the blockchain, maybe not)
  • Open banking is surging with various products and companies are leveraging the capabilities (we’ll share our discussion with the CEO of TrueLayer, the UK’s biggest player, next week). 
  • Partnerships. The sector is definitely maturing and whilst partnerships was a new tone two years ago, it’s the go-to-market strategy now for many banks and fintechs.

We’ve also seen a slew of announcements to coincide with the event. Here’s a few noteworthy ones we’ve picked out:

  • Arcopay launched a payment initiator across its European markets that enables cardless account-to-account PSD2 payments.
  • Comma, a bulk payment system for SMEs, launched at the eventIt claims to be the first of its kind in the UK.
  • dLocal launched Direct Issuing, a service to enable merchants to issue their own branded prepaid cards for online and in-store shopping. It is designed in particular for use in emerging markets
  • TerraPay announced several partnerships to expand its digital commerce platform globally, namely with Network International in the UAE and MOVii in Colombia. 
  • TrueLayer announced a $130m raiseat the event, bringing the open banking company’s valuation to over $1bn. Investment was led by Tiger Global Management, with Stripe among the other investors contributing to the round.

Overall, kudos to all the team at Money20/20 for managing to put on a live event. Most players have ducked out of them this year and it’s clear that while is Zoom meetings can be efficient, you can’t replace person-to-person interactions.

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