Sue Britton, Advisor, Corporate Innovation & Partnerships
September 26th, 2018
Sue Britton is CEO & Founder of FGS (FinTech Growth Syndicate) – Canada’s leading FinTech innova[...]
Global payments: Expansive growth, targeted opportunities
McKinsey&Company | Oct 2018
Robust growth makes payments a dynamic sector for incumbents—and a draw for new competitors.
Global payments revenues swelled to $1.9 trillion in 2017, the best single year of growth in the last five years (Exhibit 1). In last year’s report, we forecast that payments would become a $2 trillion business by 2020. Indeed, 2017’s market performance was so robust—its 11 percent growth rate fueled by continuing strength in the Asia–Pacific corridor—that global revenues are poised to surpass that $2 trillion threshold in 2018, and to approach $3 trillion within five years.
This rapid growth makes payments an expanding and increasingly important component of the broader banking industry. After an extended period in which payments generated roughly 30 percent of overall banking revenues, this metric has turned sharply upward. The continued prominence of payments in banking revenues might come as a surprise, given the continued pressure on payments fees—increasing competition and regulatory pressure—and ongoing low-interest-rate environments in many developed economies. In contrast, the trend makes sense, given healthy underlying fundamentals, including electronic-transaction and digital-commerce growth, and increasing cross-border activity. The growth of the payments component also points to the imperative for financial institutions to develop and continually refresh sound payments strategies to remain competitive in a market being reshaped by technology, new competition, and customer demands.
Not surprisingly, global payments revenue growth is dominated by the Asia–Pacific region, as has been the case for several years. At more than $900 billion, the region now accounts for nearly half of global payments revenue—compared with less than a quarter just six years earlier—as well as four-fifths of recent growth (Exhibit 2).
Remarkably, double-digit growth has continued even as the base of business has grown. The 20 percent growth rate for 2017, driven largely by liquidity factors, was Asia–Pacific’s strongest ever. Although our forecast calls for inevitable moderation, revenues in the region should continue to grow at low double-digit rates over the next five years, still considerably faster than any other region.
See: Large Global Payments Processor Unveils Airdropping Campaign Among Users
Latin America’s payments sector has been the fastest-growing among the major regions in the recent past (albeit off the smallest revenue pool); but growth rates flatlined abruptly in 2017. We expect the region to return to average annual growth of 8 percent over the next five years, second only to Asia–Pacific. While several Latin American countries continued to deliver double-digit growth in 2017, Brazil’s payments sector—the region’s dominant revenue engine—was hampered by regulatory action targeting credit-card rates (Latin America is reliant on interest for two-thirds of its card revenues). Credit-card annual percentage rates (APRs) in Brazil fell by more than 60 percentage points as a result of actions restricting the duration of high-cost revolving credit lines. The plan is expected to reduce delinquency rates but will also reduce average APRs, which remain among the world’s highest. Latin America’s underlying fundamentals remain solid, particularly for domestic payments.
Revenues in Europe, the Middle East, and Africa (EMEA) were similarly near flat, continuing a trend that has persisted for the past decade. The developing nations of Africa and Eastern Europe have generated high single-digit growth, offsetting nominal declines in Western Europe. Fee revenues have been the primary factor in the growth that has occurred, while a persistent environment of low interest rates—reaching negative levels in some cases—acts as a drag on growth. A return to a stable rate environment combined with continued transaction growth will result in revenue growth in the middle single digits for Western Europe until 2022, while Africa and Eastern Europe are likely to continue at their present pace. At the same time, individual companies in the European payments arena, such as Adyen and Wirecard, are finding growth areas that lead to substantial valuations.
On the surface, cross-border payments might appear to comprise a low single-digit share of global payments revenues. However, once liquidity factors such as net interest margins are excluded—as many institutions do in analyzing their own payments P&Ls—this growing category of transactions account for a larger share (roughly one-quarter) despite increasing competition from new entrants and solutions. Cross-border transactions also continue to generate unusually high margins for payments products and serve as a foundation for a broader array of client services.
After a period of tepid results, following the financial crisis, North America’s overall payments revenue growth returned to a healthy 7 percent in 2017, and is poised to continue at a similar pace over a five-year horizon. Credit cards comprise more than half of North American payments revenues, far more than any other geography, and will continue to grow faster than other products. More surprising is that the drag on North American revenue growth, from the temporary slowdown in credit-card usage following the financial crisis, has only recently lifted.
The jump in global revenues in 2017 is a direct reflection of an improved global economic scenario, reinforcing the close link between growth in GDP and payments revenue. According to World Bank data, in 2017, global nominal GDP grew at 6.0 percent year over year, compared with 1.5 percent in 2016. During the same periods, payments revenue increased in similar proportions, from 7 percent in 2016 to 11 percent in 2017.
See: Meet the fintech entrepreneur who thinks payments are boring
Comparing payments revenues across regions, we observe that payments revenue per unit of GDP (a measure of the cost of payments for consumers and businesses) in Asia–Pacific and Latin America is 50 to 60 percent higher than for Europe and North America. In addition, the share of electronic payments transactions in Asia–Pacific and Latin America is 60 to 65 percent lower than in Europe and North America. In other words, payments are significantly costlier for the economy in Asia–Pacific and Latin America, because the cost of processing cash and check payments is higher, as are the fees paid by consumers and businesses.
Transaction dynamics remain strong
Although the strong recent growth in global payments revenue has been broad-based and diverse, an increasing share is related to transactions. This is a positive development for banks and payments providers, as transaction revenues are more predictable and sustainable, and more readily controlled by financial-services firms. Transaction-based revenue now accounts for 40 percent of global payments revenue, up from 37 percent in 2012. We expect this share to grow to 46 percent by 2022, even in an improving rate scenario.
More specifically, while the overall number of transactions continues to increase, the true revenue driver is the electronification of transactions—namely, away from cash—which more than offsets the downward pressure on fees (Exhibit 3). Over the past five years, the share of the world’s transactions carried out in cash has fallen from 89 to 77 percent. At the same time, the share of combined debit- and credit-card use has nearly doubled, from 5 to 9 percent. The decline of cash usage globally is expected to be even more pronounced over the next five years, due to an increasing range of payments options, the push toward real-time payments, the growth of digital commerce, and continued regulatory focus on payments electronification.
Given that the Asia–Pacific region accounts for more than 60 percent of the world’s population, it is not surprising that it is responsible for two-thirds of global transactions. The fact that Asia–Pacific still lags behind other regions in overall electronification at only 21 percent (despite more than doubling since 2012) illustrates the region’s ongoing growth potential. The move away from cash, as witnessed in markets such as China, will serve as the single-largest cause of global electronification. The share of electronification in China has increased more than tenfold over the last five years, from 4 percent in 2012 to 34 percent in 2017.
See: Singapore consortium claims breakthrough in DLT payments project
Meanwhile, North America has become the first region to execute more than half of its transactions electronically. At 450 electronic transactions annually per capita, it far and away leads other regions on this dimension. Meanwhile, individual European countries, such as Sweden and Norway, are executing no more than 20 percent of their transactions in cash, while generating 520 noncash transactions per capita per year.
The shifting digital landscape
The growing popularity of alternative payments solutions, and digital commerce in general, further contributes to the electronification trend. Global digital commerce volume exceeded $3 trillion in 2017 and will more than double by 2022. Asia–Pacific already comprises more than half of this $3 trillion and, due to the fast-growing Chinese market, will increase its share to nearly 70 percent by 2022. Mobile commerce, including in-app payments and mobile browser payments, is the dominant factor driving strong digital commerce growth, due to rising smartphone adoption, an increasing shift toward online shopping, and improvements in network bandwidth. Mobile commerce accounts for 48 percent of digital-commerce sales globally as of 2017, and is forecasted to reach 70 percent by 2022 (tripling to $4.6 trillion).
Consumers and merchants alike are increasingly embracing app-based commerce and in-app payments, with retailers ramping up investments in mobile apps with innovative use cases to provide omnichannel shopping experiences for customers. Globally, mobile apps accounted for more than 30 percent of total digital-commerce volume in 2017, and they are expected to continue strong growth across all regions (Exhibit 4). Digital wallets are estimated to have added approximately 40 billion to global payments revenues in 2017.
The outlook for in-store commerce varies significantly by country and region: in countries with near-field-communication infrastructure, tap-and-pay will drive growth; in the United States, in-store app use will grow as consumer use of order-ahead increases; and in emerging markets, the introduction of new payments solutions will influence how people pay. In the United States, in-person use of digital wallets will increase at a 45 percent compound annual growth rate to reach nearly $400 billion in annual flows by 2022. Although most of this growth is expected to be on “pass through” wallets like Apple Pay, private-label wallets such as Starbucks and Walmart Pay—both of which have enjoyed impressive early adoption—will also continue to increase in popularity. Even with these gains, however, digital wallets will comprise less than 10 percent of US consumer in-person point-of-sale payments in 2022. Lack of ubiquitous merchant acceptance will remain a barrier, along with the continued percentage of consumers who do not know how to use their mobile phone to pay at the point of sale.
See: The lending revolution: How digital credit is changing banks from the inside
In the United Kingdom, a total of 38 million contactless transactions were conducted using a mobile device in 2016 (representing roughly $358 million in spending). While this is significant in absolute value, it accounts for only 1.2 percent of in-store payments, indicating a huge opportunity for growth. China leads on this front with 40 percent of in-person spending already on mobile digital wallets. However, unlike the United States, almost all of this is on closed-loop systems like Alipay and WeChat Pay. China’s ratio is projected to continue to increase to nearly 60 percent by 2022. Within the same region, Japan remains a largely untapped market. Research has found that close to 70 percent of Japanese consumers across all age groups still prefer to use cash when making in-store purchases, mainly due to security concerns with mobile payments. It is interesting to note, however, that despite the preference for cash, prepaid-card solutions like Suica have found high adoption in Japan. In the third section of this report, we look in more depth at the digital landscape.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Crowdfund Insider | Cali Haan | Nov 19, 2018 After holding a series of 18 meetings to review Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the House Finance Committee has recommended that the Government of Canada regulate cryptocurrency businesses to prevent criminal use, iPolitics reports. The committee has been conducting meetings to review PCMLTFA laws since February, something required of at least one parliamentary committee every five years. See: OSC introduces new cryptoasset educational tools The committee has heard from over 70 expert witnesses since it started the review last February, including representatives from the financial advisory firm IJW & Co. and the law firm Durand Morisseau LLP, both of which submitted 65-page reports. In its report to the government, the committee said that both firms warned: “(I)n the absence of some degree of regulatory oversight, cryptocurrency transactions may be used by parties to swiftly move large amounts of wealth across borders.” The committee said that its three recommendations to parliament accorded with those suggested by the firms: Cryptocurrency exchanges handling crypto-to-fiat conversions must be legally classed as money services businesses (MSBs), which are required to follow strict financial-reporting guidelines, “…in compliance with the PCMLTFA.” Cryptocurrency exchanges should be licensed ...
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Read More
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Read More
Fintech News Singapore | Nov 14, 2018 During her speech at Singapore Fintech Festival 2018, Christine Largarde, IMF’s Managing Director expressed the need for states to consider the possibility to issue digital currency, adding that there may be a role for the state to supply money to the digital economy. Ms Lagarde is of the opinion that a central bank backed cryptocurrency could achieve the following goals financial inclusion, security and consumer protection; and to provide what the private sector cannot — privacy in payments. How a central bank backed cryptocurrency could aid financial inclusion She shared during her speech that cryptocurrencies offer great promise through its through its ability to reach people and businesses in remote and marginalized regions where banks are not exactly rushing to serve poor and rural populations. Ms Largarde further added that it is critical because cash might no longer be an option, if the majority of people adopt digital forms of money, the infrastructure for cash would degrade, leaving those in the periphery behind. See: The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities She emphasized of course, cryptocurrency is not necessarily the only answer. There may be scope for governments to encourage ...
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McKinsey&Company | By Chiara Brocchi, Davide Grande, Kayvaun Rowshankish, Tamim Saleh, and Allen Weinberg | Oct 2018 While most companies understand the importance of analytics, fewer than 20 percent have maximized the potential and implemented AA at scale. The CEOs of most financial institutions have had data on their agenda for at least a decade. However, the explosion in data availability over the past few years—coupled with the dramatic fall in storage and processing costs and an increasing regulatory focus on data quality, policy, governance, models, aggregation, metrics, reporting, and monitoring—has prompted a change in focus. Most financial institutions are now engaged in transformation programs designed to reshape their business models by harnessing the immense potential of data. Stay current on your favorite topics Subscribe Leading financial institutions that once used descriptive analytics to inform decisionmaking are now embedding analytics in products, processes, services, and multiple front-line activities. And where they once built relational data warehouses to store structured data from specific sources, they are now operating data lakes with large-scale distributed file systems that capture, store, and instantly update structured and unstructured data from a vast range of sources to support faster and easier data access. At the same ...
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NCFA Canada | Nov 9, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep17-Nov 9: How Artificial Intelligence is Optimizing Sales and the Future of Business AI About this episode: On this episode NCFA Fintech Friday's our host Manseeb Khan sits down with the co-founder and president of Fortuna Asad Naeem. They chat about how AI can supplement salespeople, the excitement behind computer vision and the future of business AI. Enjoy!(see Transcript) Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: ASAD NAEEM, Co-founder and President, Fortuna.ai (view Linkedin) Bio: Asad is the Co-Founder of Fortuna.ai, a top of the funnel sales automation company. Prior to co-founding Fortuna, Asad spent time with a big 3 bank in Canada, first on the sales team covering the largest financial territory in Canada, and after, with the Data Analysis and Strategic Initiatives Team, providing insight and consulting on sales campaigns. A life long entrepreneur, Asad has consistently been feeding his entrepreneurial spirit ever since starting his first business in Grade 9 and starting and running a couple of start-ups throughout his university days. Having spent over 10 years in and around sales, he is intimately familiar with the problems being faced by sales ...
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Crowdfund Insider | Cali Haan | Nov 19, 2018 After holding a series of 18 meetings to review Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the House Finance Committee has recommended that the Government of Canada regulate cryptocurrency businesses to prevent criminal use, iPolitics reports. The committee has been conducting meetings to review PCMLTFA laws since February, something required of at least one parliamentary committee every five years. See: OSC introduces new cryptoasset educational tools The committee has heard from over 70 expert witnesses since it started the review last February, including representatives from the financial advisory firm IJW & Co. and the law firm Durand Morisseau LLP, both of which submitted 65-page reports. In its report to the government, the committee said that both firms warned: “(I)n the absence of some degree of regulatory oversight, cryptocurrency transactions may be used by parties to swiftly move large amounts of wealth across borders.” The committee said that its three recommendations to parliament accorded with those suggested by the firms: Cryptocurrency exchanges handling crypto-to-fiat conversions must be legally classed as money services businesses (MSBs), which are required to follow strict financial-reporting guidelines, “…in compliance with the PCMLTFA.” Cryptocurrency exchanges should be licensed ...
Read More
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NCFA Canada | Nov 16, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep18-Nov 16: Bridging the AML/ATF Gap with Financial Institutions and the New Economy About this episode: On this episode, NCFA Fintech Fridays host Manseeb Khan sits down with Charlene Cieslik the Chief Anti-Money Laundering Officer at Coinsquare. They talk about not everyone using crypto is a terrorist, regulatory uncertainty, cape shopping and guidance in the crypto space. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: CHARLENE CIESLIK, Chief AML Officer, Coinsquare (view Linkedin) Bio: Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies. During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree ...
Read More
Read More
VANCOUVER, BC / ACCESSWIRE / November 15, 2018 / VanFUNDING 2018: CONVERGE, an annual innovation, technology and capital event organized by the National Crowdfunding and FinTech Association (NCFA), will take place in Vancouver on November 29-30 at Parq Vancouver. The event showcases leading technologies and experts in blockchain, fintech, artificial intelligence and alternative finance that are making an impact on Canada, the capital markets and the world. The event will feature over 50 speakers including Monique Morden, CEO of Judi.ai; Brady Fletcher, Managing Director, TSX Venture Exchange at TMX Group; Toufi Saliba, CEO of Toda.Network; Mark Wang, Director of Capital Market Regulation, BC Securities Commission; Paul Schulte, Managing Editor, Schulte Research; Rojin Nair, General Manager Fintech Solutions for Celero and more. The event will also feature its annual pitching program that will award three "Front of the Line"Dragon's Den Golden Tickets and other prizes to the winning startups. Startups selected to pitch include Flux Network, Capiche Capital Technologies, Very Good Butcher, Squamish Canyon, Drive Hockey, Veme, Moca Estimator, Symend and HeyBryan. As NCFA Canada CEO, Craig Asano states, ''We are witnessing unprecedented change that is already affecting our daily lives - how we interact with financial services, generate digital wealth, ...
Read More
Read More
Gowling Article Mondaq | Nov 13, 2018 As technology continues to evolve and develop it brings the opportunity for businesses to build on current and future processes to benefit both them and their customers. Developments such as artificial intelligence, virtual reality and blockchain are powering change within the organisations they are implemented in. In advertising, blockchain technology is beginning to be harnessed to drive personalisation in the messages that are being communicated and the experiences being offered. What is blockchain? Blockchain is a form of distributed ledger technology (DLT) that allows for lists of transactions to be recorded in a transparent and decentralised way. The digital information is then distributed rather than copied ensuring that there are no copies that can be altered and differ from one another. The power of blockchain is that it allows for a verifiable and auditable history of all information to be stored on each dataset. Any changes to a data record would require the alteration of any subsequent records and the entire network's agreement, ensuring that transactions are more consistent, transparent and accurate in comparison to paper-based processes. Blockchain and advertising In our report, 'The Ultimate Disruptor: How Blockchain is Transforming Financial Services' we ...
Read More
Read More
The Globe and Mail OpEd | Bilal Khan | Nov 15, 2018 Bilal Khan is the new managing partner and head of Deloitte Data At every moment of every day, data courses through our lives. It is the lifeblood of the new economy. The world is rapidly transforming. Cities are becoming smarter with sensor technologies, industry is becoming more productive with artificial intelligence (AI), we’re developing medical breakthroughs in cancer therapies and medical genetics, and our world is more connected than ever. But what many of us may not realize is that if we don’t find a way to enable our institutions to harness the enormous power of our collective and rapidly growing data assets, Canada risks being left behind in the world. The recent uproar regarding Statistics Canada’s request for anonymized banking data shows that many of us are uncomfortable with and unaware of just how much of our data is already out there – and who has access to it. While the rights and protections of Canadian consumers are of paramount importance, in many ways we are having the wrong debate. Responsible and ethical use of data is vital for our future. The subject of debate should not ...
Read More
Read More
Newswire Release | Nov 15, 2018 NEW YORK, Nov. 15, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company, today announces its participation in the upcoming VanFUNDING 2018: CONVERGE (#VF2018) conference, taking place Nov. 29-30, 2018, at the JW Marriott Parq Vancouver in Vancouver, B.C. NetworkNewsWire is the official social media sponsor of this leading fintech and capital conference, which will explore the explosive growth currently happening relative to blockchain, AI, fintech and funding innovations, global market developments and alternative investing opportunities. “Our team is proud to be chosen as the official social media sponsor of VanFUNDING 2018,” said Jonathan Keim, communications director for NetworkNewsWire. “We look forward to lending our expertise in promoting the conference to our 1.6+ million followers via dozens of investor-focused brands, helping greatly expand the reach of VanFUNDING 2018 and its sponsors and exhibitors.” As part of its sponsorship, NNW is featuring VanFUNDING 2018 on its website and the website of its sister brand CryptoCurrencyWire. NNW is also providing a summary profile for each conference partner and disseminating these profiles through its many social channels and robust editorial syndication network with 5000+ outlets to help expand the reach ...
Read More
Read More
Fintech News Singapore | Nov 14, 2018 During her speech at Singapore Fintech Festival 2018, Christine Largarde, IMF’s Managing Director expressed the need for states to consider the possibility to issue digital currency, adding that there may be a role for the state to supply money to the digital economy. Ms Lagarde is of the opinion that a central bank backed cryptocurrency could achieve the following goals financial inclusion, security and consumer protection; and to provide what the private sector cannot — privacy in payments. How a central bank backed cryptocurrency could aid financial inclusion She shared during her speech that cryptocurrencies offer great promise through its through its ability to reach people and businesses in remote and marginalized regions where banks are not exactly rushing to serve poor and rural populations. Ms Largarde further added that it is critical because cash might no longer be an option, if the majority of people adopt digital forms of money, the infrastructure for cash would degrade, leaving those in the periphery behind. See: The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities She emphasized of course, cryptocurrency is not necessarily the only answer. There may be scope for governments to encourage ...
Read More
Read More
McKinsey&Company | By Chiara Brocchi, Davide Grande, Kayvaun Rowshankish, Tamim Saleh, and Allen Weinberg | Oct 2018 While most companies understand the importance of analytics, fewer than 20 percent have maximized the potential and implemented AA at scale. The CEOs of most financial institutions have had data on their agenda for at least a decade. However, the explosion in data availability over the past few years—coupled with the dramatic fall in storage and processing costs and an increasing regulatory focus on data quality, policy, governance, models, aggregation, metrics, reporting, and monitoring—has prompted a change in focus. Most financial institutions are now engaged in transformation programs designed to reshape their business models by harnessing the immense potential of data. Stay current on your favorite topics Subscribe Leading financial institutions that once used descriptive analytics to inform decisionmaking are now embedding analytics in products, processes, services, and multiple front-line activities. And where they once built relational data warehouses to store structured data from specific sources, they are now operating data lakes with large-scale distributed file systems that capture, store, and instantly update structured and unstructured data from a vast range of sources to support faster and easier data access. At the same ...
Read More
Read More
NCFA Canada | Nov 9, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep17-Nov 9: How Artificial Intelligence is Optimizing Sales and the Future of Business AI About this episode: On this episode NCFA Fintech Friday's our host Manseeb Khan sits down with the co-founder and president of Fortuna Asad Naeem. They chat about how AI can supplement salespeople, the excitement behind computer vision and the future of business AI. Enjoy!(see Transcript) Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: ASAD NAEEM, Co-founder and President, Fortuna.ai (view Linkedin) Bio: Asad is the Co-Founder of Fortuna.ai, a top of the funnel sales automation company. Prior to co-founding Fortuna, Asad spent time with a big 3 bank in Canada, first on the sales team covering the largest financial territory in Canada, and after, with the Data Analysis and Strategic Initiatives Team, providing insight and consulting on sales campaigns. A life long entrepreneur, Asad has consistently been feeding his entrepreneurial spirit ever since starting his first business in Grade 9 and starting and running a couple of start-ups throughout his university days. Having spent over 10 years in and around sales, he is intimately familiar with the problems being faced by sales ...
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BNN Bloomberg | November 9, 2018 #VF2018 promises to be a comprehensive overview of emerging technologies and alternative financing options The #VF2018 Conference features blockchain, AI, fintech, funding innovations, and alternative finance options for investors and businesses This year’s theme, CONVERGE, engages participants and builds bridges across the most disruptive emerging technologies Immersive educational content, over 50 speakers, and a multitude of networking and partnership opportunities The 2018 VanFUNDING Conference comes at a perfect time for investors and enthusiasts alike to dive into the vast world of fintech, blockchain, artificial intelligence, digital banking, and much more. Held at Parq Vancouver from November 29-30, this event promises to be the epitome of innovation and knowledge. Emerging, Disruptive Technologies Our world is undergoing a period of unprecedented change, especially when it comes to emerging technologies in the financial realm. For instance, we have seen how AI has been adopted into various industries where it powers chatbots and self-driven vehicles. We have also seen how digital commerce has been at the forefront of eliminating the need for paper. Most importantly, we have come to the clear realization that blockchain’s momentum is not slowing down anytime soon and that its capabilities for revolutionizing the ...
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