Money20/20 Europe is just around the corner, and Pismo sat down with two of its leading executives to discuss the show ahead, as well as emerging trends in the world of financial services.
Ricardo Josua, Co-Founder and CEO, and Vishal Dalal, CEO for Europe, North America, and Asia, will attend Money20/20 Europe in Amsterdam next week. Both are looking forward to showcasing what the company can do.
The event is part of a series Pismo plans to attend in 2022 and will be the second Pismo attends after Fintech Americas.
“We’re a five-year-old company, and already we have some impressive numbers,” says Ricardo. “We process more than $8 billion a month in transactions for major banks and innovative fintechs. We’re taking this year’s events as an opportunity to introduce ourselves properly to the world.”
Pismo’s strong growth and growing client base have so far been the result of referrals, adds Ricardo. The cloud platform it provides has made waves among those in the know, but it’s become time for the wider market to experience Pismo for themselves.
Vishal adds: “It’s so great to see Pismo go from strength to strength, and our presence at Money20/20 is the perfect culmination of that. With our footprint expanding across the world, I’m excited to showcase our journey to the European market.”
Focus on SMEs
What about the trends in the industry the two men expect to make the show’s headlines? “The pandemic has proven that the SME sector is the backbone of the world economy,” says Vishal.
“Without a healthy SME sector, sustainable development is difficult. Unfortunately, the pandemic has also shown that the banking industry still has much to do in serving small businesses effectively. Ditto for the unbanked individual – a bank account and access to credit is one of the single most important enablers in giving people a head-start in life.”
Vishal adds: “Banking has been a story of two halves – the digital and the non-digital. The digitally-savvy consumer has seen her choices multiply and her experience improve immensely, while the non-digitally savvy consumer has been left stranded.
“Ironically, technology and creativity have a major role in all of this. I believe the next major round of innovation will come alive when fintech firms realise the marginal utility of serving the affluent.”
“Fintech innovation has been focusing a lot on customer experience,” adds Ricardo. “There is this design thinking method of developing products where we think ‘what’s the customer need?’ and work outside-in.
“To build a great app or channel interface, you need to work on the system’s innards. You need to look into improving efficiency and how to run with the same robustness but with more flexibility where it counts. I think replacement now will be more relevant than ever.”
The back end is out?
Money20/20 Europe features a track focused on how “back end is out, front end is in”. For Ricardo, there is more to the equation. The pandemic has forced every corporation across the globe to adopt digital solutions.
“This is the continuation of a trend that has been happening for maybe the last five to 10 years,” he says. “But I think banks and fintechs have previously avoided the more complex approach of going bottom-up, looking at their core infrastructure.
“This is changing. We have seen large financial institutions and even smaller ones start looking at their back end. You can’t develop agile workflows and innovative products if you’re bottlenecked by legacy technology.”
Outside of the conference centre, what do Vishal and Ricardo plan to do around Amsterdam once they get some free time? “A canal boat tour,” says Vishal. “I love seeing cities from a different perspective, and a canal tour is one of the best ways to do that. Seeing the city above and life below the canal bridges is a great way to explore the city.”
For Ricardo, it’s been a long time since he last explored the cities of Europe. “I think it’s been around 20 years since I visited,” he says. Ricardo backpacked around the region when he was younger and is keen to reacquaint himself with Amsterdam and its sights.
Want to speak with Vishal and Ricardo at Money20/20 Europe? Head over to the Pismo booth (G60) or book some time with them today via our contact form.