Welcome to a dazzling journey through the vibrant and electrifying nights that illuminated the backdrop of Money Motion 2023 in Zagreb. As the sun dipped below the horizon, a pulsating energy enveloped the city, transforming it into a playground for the conference attendees eager to unwind and celebrate. The first night unfolded at the iconic Johann Franck

Johann Franck set the stage for an unforgettable evening as guests were greeted by an ambiance steeped in history and contemporary allure. The air buzzed with excitement as participants reveled in the unique blend of old-world charm and modern vibrancy. However, the real surprise awaited them – a dance performance that unfolded in three mesmerising acts. The cafe’s intimate setting provided the perfect backdrop for a visual spectacle, with lights weaving through the air, casting a magical glow over the enthralled audience.

As the first night left its indelible mark, anticipation soared for the grand finale on the second night. The conference bid farewell with a crescendo of energy at Peti Kupe, Zagreb’s hottest nightclub. This dynamic venue, pulsating with rhythm and lights, played host to the closing party, ensuring that the conference concluded on a note of unparalleled excitement.

Peti Kupe, known for its immersive experiences, welcomed conference-goers to a world where music and movement merged seamlessly. Three phenomenal DJs took center stage, each commanding the crowd with a unique blend of beats that resonated with the eclectic tastes of the diverse audience. The night unfolded into a symphony of celebration, with guests dancing long into the early hours, forging connections and memories that would linger well beyond the conference’s conclusion.

Revolution in Banking: Sandra Švaljek, Deputy Governor of the Croatian National Bank, acknowledges the ongoing revolution in banking but emphasises the importance of not compromising user safety.

Revolut’s Presence in Croatia: Andrius Bičeika from Revolut reveals publicly that Revolut has over 300,000 users in Croatia, ranking it among the top 20 markets globally for the company.

Banking and Economic Outlook in Croatia: Representatives from major banks (RBA, OTP, PBZ, Addiko) agree that the chances of a recession in Europe are low, and Croatia is in a good position. Interest rates in Croatia are expected to rise, but more slowly than in other EU countries due to regulatory constraints.

Competition Between Traditional Banks and Startups: Panellists agree that competition between traditional banks and FinTech startups will drive development, pushing each other to enhance customer experience, apply artificial intelligence, maintain security and privacy, and optimise offerings using data.

Role of Technology in Banking: Discussions highlight the role of technology, including “big data.” Ivan Šimičević from OTP predicts the management of 50 trillion devices globally by 2023 and sees technological progress in banks as adaptation to unavoidable environmental conditions.

Embedded Payments and Smart Technology: Examples of smart technology in the banking sector, such as embedded payments, are discussed. The potential for embedded payments within existing applications is emphasised for enhancing user convenience.

Risks in FinTech and Crypto: Challenges and risks in crypto and FinTech companies are discussed. Panellists emphasise the need for specific regulatory frameworks for these industries.

Regulation and Innovation: Representatives from different market players discuss the challenges of regulating new technologies and companies in the financial industry, highlighting the privileged position of innovators in Croatia due to the smaller number of players in the national market.

Educating the Next Generation of FinTech Experts: The final panel focuses on the role of educational institutions in creating new FinTech professionals. The emphasis is on providing interdisciplinary and project-based education with top-notch experts.

Mastercard’s Perspective on Cryptocurrencies and NFTs: Christian Rau from Mastercard opens the second day of the conference with a clear message that users are already interested in owning cryptocurrencies and NFTs. Mastercard, as a global leader, is actively involved in the crypto ecosystem, offering channels and products and collaborating with various partners.

Panel Discussion on Payment Models and BNPL: A panel discussion explores different payment models, with a focus on Buy Now, Pay Later (BNPL), which currently participates in 25% of digital transactions. Ivan Rebrović from Monri discusses the acceptance of digital wallets among citizens, noting that the acceptance rate among Croatians is low due to distrust in new payment methods and concerns about granting access to information, especially card numbers.

Challenges of Soft POS and Education for Adoption: Soft POS, a payment method, is discussed as a concept that needs to gain public acceptance through education. Without public trust, especially for small businesses and organizations, this accessible payment method may not be widely accepted. Although its end or failure is not predicted, it is seen as far from becoming mainstream.

Digital, Modern, and Smart Banks: Piotr Jelenski, Director of ASEE and Payten, and Maurice Lisi, Head of Digital Channels at BPER Bank, discuss digitised, modern, and smart banks. Consumer demands in digital banking often focus on lower costs or fully digital services. Despite digitization, the human role remains crucial, transitioning from physical presence to online availability.

Prioritising Users and Profit in Digitalization: Piotr Jelenski emphasises that while digitalization is important, users come first, followed by profits. Maurice Lisi suggests that simple everyday banking services are unprofitable due to higher costs than revenue, and he sees the solution in offering new and more complex services, such as asset management or sophisticated lending.

The highly anticipated financial event of the region, Money Motion, officially kicked off on March 9th at Lauba, Zagreb, Croatia. From nine in the morning, the venue began buzzing with numerous attendees eager to delve into first-hand insights on topics ranging from the surge in popularity of digital banks to the sudden plunge in cryptocurrencies and digital identities.

Over the course of two days, more than 1300 individuals attended the largest regional FinTech conference, with one out of every two attendees being a FinTech expert.

Remarkably, close to 10 percent of participants were from organisations directly connected to web3 and crypto. FinTech professionals and enthusiasts from 15 countries around the globe gathered to unravel the complexities of various financial and technological themes, spanning from open banking and investment risks to crypto scams and financial inclusion.

Thanks to panels and presentations featuring industry experts such as Revolut’s partner, Andrius Bičeika, and Unzer’s Head of Business Development, Panagiotis Kriaris, this FinTech conference has positioned itself as a frontrunner in the region, a fact reinforced by media coverage across the country and beyond.

The Money Motion Startup competition, featuring 10 startups from the region, added extra value to the conference. At the closing ceremony on Friday, organisers welcomed the winners to the main stage. FinqUp secured the third spot with a prize of 500 euros, Orangepill claimed the second position with 1500 euros, and the top award of 3000 euros went to ViaBank, a Bulgarian startup specializing in open banking technology for payments.

Joining them on stage was Krešimir Antolić from Infobip, who presented three checks amounting to 20,000, 15,000, and 10,000 dollars worth of credits for use on Infobip’s platforms. The recipients of these credits were ViaBank, Vendu Tech, and Flash, marking a thrilling conclusion to the startup competition and Money Motion 2023.

“From the start, we had set very ambitious expectations, and I am thrilled the conference exceeded everything we had hoped for. We became a crucial gathering place for the exchange of knowledge and experiences among experts from the payment, banking, and crypto industries. We carefully listened to all the feedback from attendees and conference participants, and we are pleased to have justified their trust. For the next year, we have even more ambitious plans. With the experience from this year, we know that we can create an event that will become an indispensable gathering for the FinTech community across Europe,” said Damir Čaušević, one of the Money Motion founders.

Money Motion 2024 will be the second edition of this conference – far bigger, more international, and full of surprises. MoMo 2024 will take place March 21 and 22 at the Zagreb Fair. Get your ticket at Entrio.hr and we’ll see you there!