Build your base

Alienum phaedrum torquatos nec eu, vis detraxit periculis ex, nihil expetendis in mei. Mei an pericula euripidis, hinc partem ei est.
Registration page
Buy Tickets
Schedule
Gallery

Technological revolution in finance: From invisible payments to stablecoins. Here’s what awaits us all

Find out about the progress of the digital euro project, whether cashierless stores are the future, and the role of supercomputers in banks - all at the Money Motion conference

Technological revolution in finance: From invisible payments to stablecoins. Here’s what awaits us all

by
Uncategorized
March 1, 2024

It is estimated that more than 26 thousand startups worldwide are currently conceptualizing, developing, and scaling financial and technological solutions. And that number will only continue to grow along with user appetite for faster and more cost-effective solutions. Already today, we are witnessing an easier way to transfer funds and make payments when everything is available at a click.

This is a crucial moment in the industry’s history when the strategic choices of companies in the market regarding investment and experimentation with new technological solutions for increasingly demanding user expectations will be decisive. The impact of younger consumers, such as Generation Z members who will soon dominate the market, is particularly pronounced. From the Nexi Group, a leading technology company for payment solutions in Europe, it is predicted that the consumer habits of the generation that has grown up with a smartphone in hand will be the catalyst for exponential growth not only in digital but also completely invisible payments.

In line with this reality is the collaboration they achieved last year by opening the first cashierless store of a well-known Italian chain, as well as a Croatian one in Zagreb. The customer enters the supermarket, selects products, places them in their bag or pocket, and an advanced system of infrared cameras and weight sensors tracks the customer during their time in the store and places items in a virtual basket. Upon exiting the store, integration with an invisible online payment system allows for quick cashierless payment in a completely digital format.

Damir Čaušević, President of the Management Board of Monri Payments, agrees that the key lies in simplifying even the most basic everyday processes. Monri Payments has been collaborating with more than 25 banks in Croatia and the region for years to provide the end user with the best experience.

– It no longer makes sense to talk about payment security and reliability as innovation drivers because it is such a basic need that it is the foundation of every one of our services and solutions. In a dynamic and modern environment, users seek simplicity and adaptability to their needs. That’s why we focus on ensuring that our services encompass the entire process preceding payment as well as the payment itself, providing flexibility in accepting as many payment methods as possible, and ensuring a consistent payment experience, whether online or offline.

To achieve all the ambitions the industry has, cooperation between all representatives of the FinTech industry will be crucial. From the OTP Group, it is stated that cooperation with other FinTech companies, startups, and other innovative companies whose business is based on advanced technology, as well as educational institutions, to revolutionize banking products and services for the future, has formed as their path to success.

– Therefore, our current efforts include the implementation process of an artificial intelligence research and development project using one of the fastest supercomputers in Europe. With the help of this computer, we are building a large Hungarian-English language model at the GPT-3 level, which will be crucial for the OTP Group, especially when adding other languages ​​used within the OTP Group. Our completed English-Hungarian bilingual model with 1.5 billion parameters is unique in all of Hungary, and we are already testing and improving our Hungarian-English bilingual model with 13 billion parameters – revealed Péter Csányi, Deputy CEO and Chief Digital Officer, and Member of the Board of Directors of the OTP Group, who will be attending Money Motion at the Zagreb Fair this March.

At the new edition of the Money Motion conference, which will be held on March 21 and 22, under the sponsorship of leading regional brands in the industry – Nexi, Mastercard, OTP Bank, Monri, and ASEE – there will be discussions on how blockchain technology, which is increasingly penetrating standard financial and technological processes, has found its place among traditional players. The market first encountered blockchain through cryptocurrencies, with Electrocoin being the first to officially trade them in our market and enabling citizens to pay for their daily needs with their crypto assets.

– As the largest domestic provider of cryptocurrency payment services, we witness a constant growth in entrepreneurs’ interest in introducing cryptocurrencies into their businesses. Since the introduction of the PayCek cryptocurrency payment processor in 2018, we have recorded a steady increase in transactions. For example, in 2022, despite unfavorable macroeconomic trends and the “crypto bear market,” cryptocurrency payments on our platform recorded a growth of 16 percent – confirmed Hrvoje Hrvatin, head of marketing at Electrocoin.

Blockchain technology is becoming an important participant in this dynamic, as evidenced by the digital euro project, i.e., the first centralized and European stablecoin currency, in which Nexi Group has been involved from the very beginning alongside other international institutions. Specifically, Nexi is active in creating the rule system on which the digital euro will be based, and it is one of the five companies chosen to create the front-end prototype of the digital euro at the point of sale, thus determining the final appearance of the currency, including the customer’s payment experience with the digital euro.

– The ease of use of the digital euro will be crucial in its acceptance as a new means of payment created for about 350 million European Union residents who are estimated to spend around 6 trillion euros annually by 2030. It is an absolute priority for the digital euro to be positioned as an inclusive, secure, and simple alternative for digital payments, thereby protecting the currency sovereignty of the European Union in the context of growing digitization of payment transactions – explained Irina Bručić, General Manager at Nexi Croatia and Nexi Slovenia.

The future of stablecoins in our society will be the topic of the closing point of the first day of Money Motion, between Nikola Škorić, CEO of Electrocoin and co-founder of the conference, and Nadiem Sissounoa, Head of Economics at Mento Labs.

–  Recent developments have brought us to a critical point in the evolution of digital financial structures. Our choice today will determine whether we perpetuate traditional financial paradigms, favoring opaque institutions and privileged access to the market, or we chart a course towards a future defined by transparency, accountability, and equal participation. Our decision has profound implications for the future of finance. Will we settle for digital replicas of outdated systems, exacerbating existing energy imbalances? Or will we seize the opportunity to build a new financial landscape – one characterized by openness, accountability, self-regulation, and fair empowerment? – Sissounoa emphasized.

Tickets for Money Motion 2024 are available for 249 euros on the conference’s official website and on the Entrio platform. If you plan to travel to Zagreb for the conference, visit the official conference website to take advantage of discounts provided in partner hotels.

And for all young talents in FinTech and related industries or enthusiasts of good organization, Money Motion has opened a call for volunteers. All interested parties are welcome to apply at the volunteer subpage.

In her keynote, Anna will delve into the forefront of payment technologies. She will guide you through emerging technologies, including recent developments in AI and explain how they can be effectively integrated into payment solutions and platforms.

She will share her insights into the ways payment transactions can be redefined and reengineered. She will provide examples of how payment processes and flows can be streamlined through open banking, a2a payments as well as payment orchestration. Learn how these technology advancements are not only reshaping payment transactions but also enhancing the overall customer experience. In her session, Anna will also explore the evolving role of embedded payments and their transformative effect on the merchant payment value chain.

This will close in 0 seconds

The discussion will focus on the impending digital and cashless transformation of the payments industry, driven by market participants including merchants, customers, banks/financial institutions, and payment networks. Key areas of exploration will include advancements in instant payments, the influence of the European Payment Initiative, and the future landscape of payment facilitation and acceptance.

Additionally, in this panel we will explore the impact of emerging technological trends such as SoftPOS adoption, regulatory frameworks like PSD3 and the Digital Euro, evolving business models like BNPL services, the diminishing use of cash, and discussions on cross-border payments and cryptocurrency integration, all of which are shaping the evolving nature of payment systems within Europe.

This will close in 0 seconds

At Mastercard, we strive to connect and power an inclusive digital economy that benefits everyone, everywhere. For almost 60 years, leveraging our global innovations capability, we work to digitize payment services across all channels and devices. Delivering payment value where speed, security and convenience matter most, and digital solutions solving consumers’, small and large businesses’ needs. Building trust in a digital world and embedding our social impact initiatives and ESG commitments into our core. Connecting everyone to priceless possibilities.

This will close in 0 seconds

What changes has open banking brought so far? What difference has it made and how? Who are the main drivers and players? Can open banking replace cards and what will it take? We will explore some of the open banking models around the world, use cases, lessons learned and what will the transition to open finance entail.

This will close in 0 seconds

The panel will cover the financial landscape's evolution from open banking to open finance. It addresses the development, challenges, and forward trajectory of alternative business models. The session will dive into impactful use cases while examining the implications of the latest EU regulations, lessons learned from existing regulations and anticipates changes with PSD3.

This will close in 0 seconds

In an increasingly digitised world, an elevated level of sophistication and personalization is expected from the banks when approaching the customers. To meet such expectations, not only a thorough knowledge and understanding of the customers' needs, but also an attentive customer-centric relation is needed. The banks should be able to know when, how and what to offer to their customer, taking into account their financial profile, as well as contemplating a well-thought engagement and communication strategy.

This will close in 0 seconds

In this panel, we will discuss the importance of data in today’s AI world.  First, we will cover what ChatGPT brings to banking and AI, demystifying whether it is a myth or a reality and how that fits enterprise users. Current generative AI offerings mainly focus on general models, but what about specialists’ models and their future?

This will close in 0 seconds

The panel will delve into the intricacies of the Digital Operational Resilience Act (DORA), the pioneering European framework that came into effect on January 16, 2023. By 17 January 2025, over 22,000 financial entities and ICT Service providers across the EU are expected to achieve compliance with this regulation. This, among other important activities, implies that millions of contracts within the EU will require renegotiation, placing a critical emphasis on fulfilling value chain requirements.

The panelists will try to unravel the essence of DORA by addressing key questions: What are the key requirements of DORA? How can financial institutions navigate their most pressing challenges, and why must organizations of varying sizes adopt distinct strategies? Is the talent pool of IT Risk managers adequate, and how will cyber teams be impacted? And most importantly, can we make it on time or are we already behind schedule in our preparations?

This will close in 0 seconds

Experience the Battle of the Decade firsthand! 

Hrvoje Cosic, the CEO of Aircash, is set to go head-to-head with the heavyweight champion Andrius Biceika, a distinguished board member at Revolut. This epic showdown will delve into numerous sensitive and even a few embarrassing topics :) such as the role of neobanks in Croatia and the broader region. Join us as we explore their respective exit strategies, identify fintech champions and contenders, and uncover their perspectives on various subjects like gambling, digital euro, and Apple Pay.

This will close in 0 seconds

The panel discussion explores Central Bank Digital Currency (CBDC), covering its definition, motives, and future implications such as its coexistence with current and future versions of digital money (deposit money, stablecoins etc). It addresses implementation challenges, competitive ecosystem building, CBDC as a public good, anonymity concerns, public authorities' roles, and the European Commission's digital euro proposal.

This will close in 0 seconds

Why would anybody use stablecoins? Except for trading of cryptocurrencies, ofcourse. What problems do we have with the current financial system that stablecoins solve? And, are they really so dangerous that central bank digital currencies were created just to stop stablecoins from taking over the world? Nadiem and Nikola deeply believe that stablecoins will have a pivotal role in shaping the future of money, come hear them chat about that.

This will close in 0 seconds

(coming soon)

This will close in 0 seconds

We will discuss the evolving landscape of financial technology, highlighting both challenges and opportunities for the next decade. Sigal, with his extensive background in FinTech and venture capital, will share insights on recent trends such as the impact of rising interest rates on funding, the stabilization of FinTech exits, and the promising outlook for FinTech IPOs. The presentation will also look into emerging disruptive technologies and the importance of understanding investor motivations for startups navigating the FinTech space.

This will close in 0 seconds

The panel will explore critical issues such as regulatory hurdles, market fragmentation, and funding challenges. It will look into the need for collaborative efforts between startups, investors, and other ecosystem stakeholders to foster a conducive environment as well as supportive policies to nurture the FinTech ecosystem.

This will close in 0 seconds

The talk will delve into the hurdles startups face, the support provided by European public sector institutions, and effective strategies for securing public sector grants. It will outline the availability of grants and other forms of support from the European Innovation Council (EIC) for startups and scaleups. Additionally, the talk will highlight success stories of Croatian startups that have leveraged grants to develop and scale their innovative products and services, offering valuable insights and guidance for emerging fintech enterprises in Europe.

This will close in 0 seconds

(coming soon)

This will close in 0 seconds