Next Money will hold its 2017 flagship North American event in Chicago on September 26 at Venue SIX10 on Michigan Avenue.

This year’s event will again host the finals of the “Global Trends” division of BBVA’s Open Talent Competition, in coordination with Chicago’s recently announced FinTech Center of Excellence called Currency.

The event is being brought to Chicago in partnership with FinTEx Chicago, a collaboration between leading players in financial services and technology to expand Chicago’s role as a center of Innovation.

Next Money Chicago will focus on three major themes that are very timely and relevant for anyone in the financial services industry today: capabilities, compliance and collaboration, as detailed below.

Both the morning and afternoon will also feature demos from fintech start-ups seeking to transform the financial services industry by competing in the BBVA Open Talent Challenge. The winners will go on to compete in the finals in Mexico City for the chance to win €30,000 and and immersion and interaction week with BBVA executives in Madrid.

 

Capabilities: Putting the Intelligence in Finance (Artificial or Otherwise)

Succeeding in the world of modern finance requires new skills and new capabilities beyond traditional bank products and services. Artificial Intelligence, distributed ledger technologies, chatbots, APIs and open banking platforms, and other developments are changing the definition of financial services and the way they are delivered and consumed. We explore the short-term and long-term implications of these dramatic shifts with a view on the leadership imperatives necessary to compete and win in this rapidly changing environment.

Capabilities Keynote: Smart Banking for the Augmented Age – Brett King

Is your bank ready to adapt? Chances are, you don’t have a choice. There is a promised level of disruption that will come with Augmented Age – an age that will see more change in the next 20 years than in the last 250. Following on from the Industrial or Machine Age, the Space Age and the Digital Age, the Augmented Age will be based on four key disruptive themes – Artificial Intelligence, Experience Design, Smart Infrastructure and HealthTech.

In this session, Brett King, best-selling author and radio host for Breaking Bank$, will share valuable insights into what lies ahead for all of us and a future vision of how these huge shifts in technology might impact your business and industry as both a disruptive force and area of significant opportunity.

Capabilities Panel: Intelligent Financial Services

Our panel of experts will discuss and debate some of the most critical aspects of this dynamic environment. What is overhyped, and what should we pay attention to that’s currently under the radar? What should leaders do first? What are the best ways to position your organization for the future without compromising the current business?

Compliance: Balancing Creativity and Compliance

Financial institutions operate in a highly regulated environment that places significant constraints on the ability to innovate and quickly deploy new solutions. New RegTech developments promise to improve the effectiveness and efficiency of compliance while new technologies and new competitors challenge the status quo. For our Compliance theme, we consider the dynamics of regulation and compliance in an asymmetric environment of incumbents and insurgents.

Compliance Keynote: How Fintech is Changing the Regulatory Environment

Regulators around the world are recognizing the massive impact that fintech is having on the financial services industry and many are taking new approaches for both traditional institutions and new technology-based players. New offerings and new ways of delivering value need to be embraced while still protecting consumers and the safety and soundness of the financial system. New types of charters, unique approaches to partnerships and vendor risk management, and regulatory sandboxes are just some of the new tools being used to balance creative new approaches with the need for appropriate compliance.

Compliance Panel: Navigating the Shifting Sands of Regulation

Our panel of experts dive deeply into the realities of innovating within the bounds of regulation and compliance, with an emphasis on real-world strategies and examples. How can we turn internal resources such as Legal, Procurement, and Finance into enablers instead of limiters? How is RegTech reducing costs and improving oversight? How are leaders addressing the risks of outside vendors and partners? Are regulators helping or hurting, and what needs to change?

Collaboration: Making FinTech and Banking Work

For many financial institutions and fintech companies, the prevailing attitude has shifted from competition to collaboration. Fintechs can develop and deploy new targeted solutions more quickly and inexpensively than many institutions could do on their own. Meanwhile, financial institutions offer the scale of an existing customer base that would otherwise be difficult for technology companies to reach effectively and efficiently. Still, significant challenges remain, and the ‘move fast and break thing’ ethos of Silicon Valley doesn’t work in the highly regulated environment of banking.

Collaboration Keynote: The Odd Couple: How Can FIs and FinTechs Work Together Effectively?
As countless organizations have found, the reality of fintechs working together effectively with traditional financial institutions is easier said than done. The challenges go far beyond the technical considerations, as vastly different approaches and cultures have to be reconciled in order to realize the benefits of collaboration. Learn what the most innovative organizations are doing differently to bridge the divide and deliver real results.

Collaboration Panel: The Nuts and Bolts of Effective Fintech Collaboration
A lively and spirited debate is expected as we dig into some of the very real challenges that have to be addressed in order for fintech companies to create lasting value with incumbent financial institutions. What is the best way to balance the risks and rewards of external partnerships?  What should we handle in-house, and where are the best places to partner? How do legacy systems and providers empower or restrict the ability to innovate and collaborate with others?

Reinventing finance through design, innovation & entrepreneurship.

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Next Money Fintech Finals 2017
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