The regulation PSD2 paves the way for fresh competition and Open Banking is a disruptive influence, forcing banks and the fintech startup community to both compete and collaborate to retain and win business in the face of competition. For many banks fintechs are no longer competitive and are seen as playing a valuable role creating innovative new services, delivered speedily to market.

Banking and fintech collaboration is more important than ever and success is dependent on selecting the right partners. To cultivate a climate of change, synergy of strengths and like-minded thinking, wrapped up within a controlled management methodology encouraging innovation to flourish.

How this unravels differs globally from region to region. The pace of change in Europe is perhaps greatest driven by obligatory regulation encouraging competition and transformation. In the US it is slower and in APAC there are challenges of integrating a diverse set of countries. To rationalise, standardise and integrate the way culturally and technologically the region pulls together is complex enough, without taking into account a myriad of local practices.

The trend for further fragmentation is fueled by the ‘on-soil, in-country’ issues (India being a prime example) and although there is a desire to integrate the countries this may only be partially possible?

However, APAC is acknowledged for the dynamism and the creative flair it cultivates and technology (fintech) driven opportunities for growth will accelerate and its effect in tackling the issues of fragmentation, or being stifled by them, is a hot topic for debate.

Speakers Include:

• Kaushalya Somasundaram, Managing Director, Head of Fintech partnerships, HSBC
• Alistair Brown, Global Head of Payments, EPAM
• Patrik Havander, Head of Commercial Intelligence, Nordea