Fidget Spinners and Four Other Trends from Money 20/20 Copenhagen
PSD2 is dominating the EU conversation, and companies are eager to describe their offerings as PSD2-compliant. But the specifics of PSD2 regulations are months from being released, so PSD2-compliance is still being defined with broad, fuzzy strokes. So, what do we know? As we’ve stated before on this blog, stronger authentication is at the heart of PSD2, and enterprises are sharpening their focus on risk. The companies with stand-out PSD2 messages were talking about flexibility. 2018 will come with a need to have systems that can adapt to new threats at scale.
Speaking of authentication, biometrics emerged as another main theme, with the promise of saying goodbye to the old mode of proving your identity with a utility bill. Like many technologies, enhanced biometric authentication first appeared in movies. Then it entered the fintech space via fingerprint readers on smart phones. And now we’re seeing a surge of focus on multimodal biometrics, which uses information from two or more biometrics, like fingerprint and iris and voice. We predict that biometric authentication will play a large role in our lives in the near future, and change the ways we interact with our financial institutions.
The message has gone from “AI is coming” to “AI is here.” Now the message is, “How do we make AI work for us even better?” It’s an interesting shift, because it means that AI is going from something of innovation to something of operation. With AI like running water, we’re learning to lay the pipes. What does it mean to approach a state of good AI operations in business? What does that operational roadmap look like? It’s a new question that’s echoing across board rooms in 2017.
Blockchain was a major track at the event. IBM took the opportunity to announce plans to build blockchain technology for seven of Europe’s largest banks. This will mark the first time that blockchain technology is going inside financial institutions, which marks its transition from proof of concept stage to adoption stage.
5. Fidget Spinners
We Feedzaites thought that branded fidget spinners would be a great idea, and so did about two dozen other companies.