Priya PatelTLDR:
At Fintech Meetup 2024, attendees highlighted AI as the most overused buzzword in fintech, with a significant presence at the event. However, some also mentioned fraud, synergy, and embedded finance as important topics. The most underused buzzword discussed was compliance, with a focus on upcoming regulations like ISO 20022. The nuances of AI and its future potential were also explored, along with the importance of considering compliance early on.
Full Article:
Walk around any conference hall today and it will be clear what the most overused buzzword is: AI. Usage of the term quadrupled in 2023 and is predicted to reach a market size of $305.9bn in 2024. At Fintech Meetup 2024, many delegates and speakers represented AI-focused companies, highlighting its significance in the industry. However, attendees also brought up other important topics such as fraud, synergy, and embedded finance.
While AI was deemed overused, discussions at the event also touched upon the most underused buzzword, which was identified as compliance. With regulations like ISO 20022 becoming standardized in the payments space, compliance is essential and should not be ignored. Some attendees also delved into the nuances of AI, considering its future potential beyond its current role.
Overall, the event provided valuable insights into the fintech industry, emphasizing the importance of AI, compliance, and emerging regulations. By exploring both overused and underused buzzwords, participants gained a comprehensive understanding of the challenges and opportunities in the evolving fintech landscape.
