Innovation remains a key challenge for Banks. The current business landscape sees banks caught between an uncertain world economy and growing costs of innovation. They face pressure to reduce costs and introduce innovative products. There is also a threat of disintermediation by financial technology (FinTech) firms, which are looking to provide more innovative services than banks but at lower costs. In this era of competition, Banks are turning to FinTechs so they could work together (in a Sandbox) and build a testing environment for new technologies, processes and products. Open Innovation involves sharing and cooperation between companies.
Through research we have identified that Open Innovation has emerged as one of the most topical subjects in banking right now. It is set to transform the Banking of the future and there is currently no dedicated event in Europe on this crucial subject therefore in the interest of banking and financial sector we are bringing together Europe’s first of-its-kind show on Open Innovation in Banking which aims to help the financial sector to fuel innovation through partnerships and collaborations with various start-ups, FinTechs. This unique event will be jointly represented by 15+ leading speakers and it aims to gather about 100 attendees (mostly from local and regional banks, regulators, standard bodies, selected FinTechs) who are looking to stay ahead of the curve.