# Money 20/20 Europe – how far have we come? Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-06-13 Category: BANKING Category URL: https://financedigest.com/category/banking Meta Title: Money 20/20 Europe Recap: Industry Progress & Amsterdam Meta Description: Discover the highlights from Money 20/20 Europe 2019 and the industry progress over the last year. Insights on key trends, challenges, and future of payments URL: https://financedigest.com/money-20-20-europe-how-far-have-we-comehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd130618-13-1736840333430-compressed.jpg) _**Paul Butterworth**, Trustonic_ > The event has just finished, so a good time to think about the progress we’ve made as an industry over the last year. It was all change for Money 20/20 Europe this year, with a move from Copenhagen to Amsterdam. Both cities are great, so there’s parity in that respect, but how did the two shows differ? I think the venue and layout is much better in Amsterdam, particularly for the expanded roster of exhibitors. The food was better, too, and so were the parties! Although there is a certain irony in that, at one of the world’s biggest payments events, I barely spent a cent. But let’s get a little more serious and think about the [progress we’ve made](https://www.financedigest.com/sweden-finland-and-turkey-have-made-progress-on-nato-membership-sweden-says.html "Sweden, Finland and Turkey have made progress on NATO membership, Sweden says") as an industry over the last year. To try and bring some structure, I’ve rummaged out my [blog from last year’s event in Copenhagen](https://www.trustonic.com/news/blog/six-key-themes-money-2020-europe/). Let’s compare. - **From** [payments to banking. Last](https://www.financedigest.com/the-latest-trends-in-instant-payments-and-how-they-impact-banks.html "The latest trends in instant payments and how they impact banks") year, one of my key takeaways was the need for more value in the various ‘Pays’ to drive adoption. I still think they need to solve the engagement angle to make me want to use them and, as someone who has been [pushing the mobile](https://www.financedigest.com/sony-to-buy-mobile-game-developer-in-push-beyond-consoles.html "Sony to buy mobile game developer in push beyond consoles") wallet story for a decade now, this is rather disappointing. I think we can all agree that mobile wallets have not yet delivered on their considerable hype, but the dialogue shifted this [year with PSD2’s focus on banking](https://www.financedigest.com/four-years-of-open-banking-2022-may-be-the-best-year-yet.html "Four years of Open Banking: 2022 may be the best year yet "). PSD2 has not just shone a light on how the [fintechs are trying to add value](https://www.financedigest.com/fintech-incubation-more-value-than-meets-the-eye.html "FINTECH INCUBATION: MORE VALUE THAN MEETS THE EYE") to consumers, it has reignited the discussion about how we protect data and authenticate users. This is reflected in several of the discussions that I had on the floor of the show, with many [banks seeking](https://www.financedigest.com/swiss-national-bank-seeks-banking-regulation-review-after-credit-suisse-crash.html "Swiss National Bank seeks banking regulation review after Credit Suisse crash") to raise their game to protect themselves and their customers. - **Invisible, seamless, frictionless \[insert synonym here\] payments.** How many times did you see or hear those words at the show? As with last year, there is still a [huge drive to push](https://www.financedigest.com/investors-flee-uk-bonds-pushing-gilts-to-huge-monthly-loss.html "Investors flee UK bonds, pushing gilts to huge monthly loss") the ‘payment’ into the background to give users a better experience (definitely not to encourage them to spend more..!). While the retailers weren’t really out in force at the show, there was a lot of discussion around the vision for next gen commerce, whether that’s online with initiatives like 3DS 2.0, [Secure Remote Commerce](https://www.financedigest.com/open-banking-as-a-means-to-enhance-social-commerce-security.html "Open banking as a means to enhance social commerce security") or tokenization, or in-store with Amazon Go and scan-and-go payments. Payment simplification is leading to decreased dropout rates, while better authentication of both users and transactions is going to be central to adoption. - **PIN on glass/mobile.** One year on from Copenhagen and the concept of PIN on mobile is more common parlance than snazzy concept. With specs from PCI published in February and [vendor announcements following](https://www.financedigest.com/france-next-on-the-map-for-adtech-vendor-adnami-following-the-signing-of-new-partnerships-with-ad4good-and-tf1.html "France next on the map for adtech vendor Adnami following the signing of new partnerships with Ad4Good and TF1"), it seems there is now genuine movement. There are still some [challenges to be solved](https://www.financedigest.com/boardroom-challenges-solved-by-the-right-it-strategy.html "Boardroom challenges solved by the right IT Strategy") though, and not just technically speaking. Culturally, there will be behavioral [hurdles to overcome](https://www.financedigest.com/the-journey-to-cloud-native-overcoming-hurdles-to-drive-modernisation-and-achieve-long-term-success.html "The journey to cloud-native: overcoming hurdles to drive modernisation and achieve long-term success"). Would you be comfortable tapping your PIN into a slightly battered smartphone when you pay for your sandwich? I’m not sure that I would be just yet. It is going to be very [interesting to see](https://www.financedigest.com/portugal-pm-welcomes-lufthansas-interest-in-tap-scholz-sees-good-fit.html "Portugal PM welcomes Lufthansa’s interest in TAP, Scholz sees good fit") how quickly people get comfortable with PIN on mobile. There is no point having a [technology if the public](https://www.financedigest.com/how-can-technology-impact-public-health.html "How can Technology Impact Public Health") reject it. We, as an industry, must carefully consider the education process here. Solutions must be [ready for prime time](https://www.financedigest.com/the-spritz-gets-a-shake-up-something-nothing-launches-new-ready-to-drink-spritz-in-time-for-summer.html "The Spritz gets a shake up! Something & Nothing launches new ready-to-drink Spritz in time for summer") before they are released into the wild as, if there are a few high-profile compromises, the concept could be done for before it gets started. Hardware-backed security on devices will be key; trusted execution environment (TEE) [technology can both protect the data on the device](https://www.financedigest.com/medical-device-technologies-market-expectations-and-growth-trends-highlighted-until-2028.html "Medical Device Technologies Market Expectations and Growth Trends Highlighted Until 2028") and the user’s interaction with it. We look forward to working on this in more detail in the coming months. So keep an eye on the blog, as I’m sure we will have more to say! - **IoT, AI, ML.** It’s buzzword bingo time again…! Once more there was a big focus on IoT and automation, but it was great to [see the narrative progress from PoCs and theory to how it can be implemented](https://www.financedigest.com/eu-sees-more-work-ahead-to-implement-russian-oil-price-cap.html "EU sees more work ahead to implement Russian oil price cap") securely, sustainable and, importantly, responsibly. Of course, the uses of AI and ML are many and wide ranging, but it seems many [companies were treating it less like a silver bullet and more like a technology](https://www.financedigest.com/the-digital-ir-revolution-how-new-technology-is-bringing-companies-and-shareholders-closer-together.html "The digital IR revolution: how new technology is bringing companies and shareholders closer together") that can play a significant role if sprinkled in the right areas. - **Blockchain is still a thing!** Of course it is, but this year I think it actually warrants talking about. Events like this have been banging on about the [chain for years](https://www.financedigest.com/german-engineering-firms-expect-hit-from-supply-chain-bottlenecks-next-year.html "German engineering firms expect hit from supply chain bottlenecks next year"), but this year it felt real. In previous years, I’d go to presentations and [see demos and come away feeling a little](https://www.financedigest.com/analysis-weary-investors-see-little-respite-to-fed-hike-gloom.html "Analysis-Weary investors see little respite to Fed hike gloom") dirty. There was a lot of smoke and mirrors and people were guarded about the nuts and bolts. This year we were seeing actual [solutions that bring value](https://www.financedigest.com/becoming-more-than-a-bank-adding-value-through-financial-solutions-as-a-service.html "Becoming more than a bank: adding value through financial solutions as-a-service"). People were not just talking about the blockchain, but rather the specific use of it for the [benefit of a use case / implementation](https://www.financedigest.com/benefits-of-implementing-automated-testing.html "Benefits of Implementing Automated Testing") / customer etc. And, what was doubly interesting, was the protection of it. Increasingly, the industry is happy with the distributed model, but is more cognizant of how to protect the value and satellite services. Progress indeed! So, a [big ‘dank je’ from to everyone that came to see](https://www.financedigest.com/bae-systems-sees-big-opportunity-in-space-after-uk-satellite-bolt-on.html "BAE Systems sees big opportunity in space after UK satellite bolt-on") us! It was a very productive show. But what were your highlights? --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---