The Malta Business Weekly

FinanceMal­ta’s chairman addresses FinTech Junction event in Berlin

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FinanceMal­ta newly-appointed chairman, Rudolph Psaila, addressed the successful FinTech Junction two-day event held recently in Berlin. During the event, FinanceMal­ta had a stand which attracted significan­t attention and many have requested informatio­n on Malta’s Fintech and Blockchain strategy.

FinTech Junction, organised by People & Computers, is in its fourth edition and the Berlin event brought together over 2,000 Fintech leaders from around the world to discuss the latest technologi­es and challenges which the financial services industry is currently facing. The agenda covered various themes and topics including banking and personal finance, payments, retail and ecommerce, insurtech, cybersecur­ity and privacy, regulation and innovation.

Psaila took part in a panel discussion with the theme, The Future of Finance: What the next decade will look like, which featured, among others Yoni Assia, CEO and co-founder of eToro. Other members of the panel included James Henry, Head of

Sales & Partnershi­ps, SumUp and Stefan Heilmann, CEO of IEG –

Investment Banking Group. The panel session was moderated by

Ben Robinson, co-founder, Aperture and former chief Strategy &

Marketing officer of Temenos.

Psaila said: “Banks are facing several challenges nowadays in particular those posed by Fintech disruptors who are ‘attacking’ some elements of the profitable businesses of the banks and offer it at a cheaper and potentiall­y more efficient way.”

He spoke about the digitalrel­ated challenges that banks are facing nowadays, in particular on the banks’ ability to keep up and invest in technologi­cal advancemen­ts on a holistic basis, in order to enable them to improve customer experience, increase transparen­cy and be more competitiv­e.

It is probable that banking groups will redefine themselves and while they might cease providing certain services, they will instead focus on developing enhanced products better suited to their clients, he said.

“Banks should nowadays embrace technology, focus on innovation and accept disruption which is inevitable in the digital world,” Psaila added.

This year FinanceMal­ta will be participat­ing in several FinTech related events.

 ??  ?? FinanceMal­ta chairman Rudolph Psaila (first from left) making a point during a panel discussion at the recently-organised FinTech Junction event held in Berlin
FinanceMal­ta chairman Rudolph Psaila (first from left) making a point during a panel discussion at the recently-organised FinTech Junction event held in Berlin

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