Blogs > Money20/20 Europe day 1: identity, omnichannel, and digital banking
08 June –

Money20/20 Europe day 1: identity, omnichannel, and digital banking

Pismo is present at Money20/20 Europe, and we’ve attended some of the most interesting talks to bring you highlights

Alexander Hamilton

The first day of Money20/20 Europe finally arrived, and Pismo was on the ground floor soaking up the atmosphere, making great connections, and showcasing our products and services to the broader fintech world.

Away from Pismo’s coffee shop-inspired stand, we also attended several eye-opening sessions chaired by some industry experts, discussing anything and everything financial services.

Financial inclusion and digital identity

Lee Taylor, chief financial officer for content creator platform OnlyFans, started an esoteric schedule of talks by asking why major banks had ignored a segment of the economy which appears to be booming.

He says OnlyFans processed $18 million in payouts to its users every day. Taylor claims that the figure means his firm should probably be considered a fintech all on its own.

A later session, hosted in the centre of the conference among an amphitheatre of cushions and plush seats, focused on the issue of digital identity in Europe. Daniel Goldsceider, CEO at, stated that standards should be global.

“We need to find a way not to take a step backwards in the digital world,” he says. “Imagine you go to Tokyo or Singapore and can use the same methods [as in Europe].” He points to the passport example, which grants citizens across the world access to new countries.

Magdalena Mielcarz, EMEA Head of Platforms, Treasury and Trade Solutions at Citi, argues that Europe and the European Union can lead the way, as they did with the General Data Protection Regulation (GDPR).

On the main stage, Starling Bank CEO, Anne Boden, spoke about how her digital bank has managed profitability in an industry usually fuelled by a focus on hypergrowth. She says that from day one, when she graduated with a degree in Computer Science in 1981, she has focused on technology.

Boden hinted that Starling might begin licencing its technology out but has no plans to officer it to competitors in the UK. She also has some harsh words for cryptocurrency: “Customers are being scammed. We are spending far more time protecting them than promoting crypto.”

Consistent customer experience

A session on omnichannel banking saw Amazon Web Services (AWS) Banking Lead Charith Mendis talk to HSBC CIO for Channels Transformation, Marc Massar. “10 years ago, I used to be able to buy my Nike shoes online, and I couldn’t return them to the store,” says Mendis. “Today, it’s the same with banking. I can’t go into a branch and say, ‘Hey, I talked to the chatbot earlier’”.

“The whole point of trying to build a consistent customer experience is about building consistent interfaces,” adds Masser. “You want the same interfaces, pieces of information, whether the ATM or the chatbot or the mobile app.”

Banks are trying to create a data mesh of sorts, says Mendis, and ecosystems which enable the same amount of data and information to be passed between different functions. “I still have the same data, and I can still interpret it and respond to it the same way,” he adds.

Ease of use is also a significant point for the pair. Masser impresses that no user wants to read “50 pages of disclosures” on their mobile screens. “They exist because the bank got sued in the past, or there was a legal case or a regulatory reason. But you have to present that information differently for the sake of customer experience.”

Mendis agrees and says that no one wants to read 50 pages of documents when they go into a bank branch. He says it’s important to always look at processes in either the front or the back end from the customer’s point of view. “Tell me what my fees may be without me having to scroll 46 pages through a PDF document,” he concludes.

Panel discussion at Money20/20 Europe 2022

Are you at Money20/20 Europe? Visit the Pismo stand (G60) to sample some of our great Brazilian coffee or try one of our delicious Pismo shell chocolates.

Not there, but want to learn more about Pismo’s attendance at Money20/20 Europe? Get in touch with us today.

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