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Session Description
The "Power of Fintech Innovation" session will delve into the current and future trends in the fintech landscape, with insights from industry experts. The rapid advancements in cloud computing, AI, 5G, new platform models leveraging APIs, and regulatory changes, are driving competition, lowering market entry costs, and enabling innovative fintech solutions to launch and scale quickly.
The demand for seamless, mobile-first digital experiences is driving the adoption of superapps. By 2027, it is predicted that over 50% of the global population will be daily active users of superapps(1). Digital wallets have revolutionised commerce and payments, accounting for 50% of global e-commerce expenditure, which amounts to $3.1 trillion(2). Insurtech is presenting a $2.5 trillion embedded insurance opportunity(3).
The session will also explore how digital assets are being integrated into mainstream commerce. The rise in scam and fraud attacks poses a threat to trust, necessitating innovative solutions to verify the digital identities of consumers.
The need to innovate at speed has rapidly increased and fintech is now seen as a key driver of economic growth with clear focused strategies to sponsor and nurture the fintech eco-system.
1) https://www.gartner.com/en/articles/what-is-a-superapp
2) Worldpay Global Payments Report 2024
3) Embedded Finance and Superapp Strategies.