After a strong showing in the United States and Europe in recent years, one of the world’s premiere FinTech events, Money2020, headed to Singapore last week for Money2020 Asia 2018. In past years, we’ve kept a close watch on the latest happenings from the event, which you can check out here or here.
But what can we expect to come out of this year’s show, where thousands of attendees, vendors and industry experts will connect to explore the latest happenings in the FinTech space?
If you weren’t able to catch a flight to Singapore yourself, don’t worry—we’ve got you covered. Here are the top three stories to come out of this year’s event.
- Blockchain advances but cryptocurrency growing pains are far from over.
No question, there’s a general consensus among Money2020 Asia attendees that blockchain is on the doorstep of revolutionizing FinTech across industries. But interestingly, there’s less certainty in regards to cryptocurrency applications. Consumers have reported widespread identity verification issues at exchanges, and this uncertainty may be starting to take its toll. Ironically, the cryptocurrency market lost $60 billion in value on the last day of the show this year following announced regulatory increases and Google’s advertising ban.
- Mobility continues to drive security concerns.
The global mobile payment market is poised for a $3 trillion valuation by 2023—a clear indication that both businesses and consumers are going to continue leaning heavily on their personal mobile devices for all manner of transactions in the coming years. But security concerns continue to besiege mobile users, driving up interest in biometric solutions like voice-based identity verification.
- Artificial intelligence shows signs of life.
With deep machine learning and artificial intelligence technology taking off, it should come as no surprise that AI left an impression at Money2020. Transaction tracking, identity theft and fraud detection are all among the top applications as platforms become more interoperable.
To stay up to date on the latest industry news or to learn more about how VoiceVault’s voice biometric authentication and identity verification solutions can support your business, click here.