Money20/20 Europe: LHV Bank Embraced the Future of Fintech

At the start of June, LHV Bank had the privilege of exhibiting at Money20/20 Europe in Amsterdam, one of the most influential events in the financial services industry’s calendar. This marked our third year at the event, and it was our biggest presence yet, featuring our largest stand and headcount to date. Here are some of the insights from members of the LHV Bank team.

Samuel Boutel, Head of Relationship Management, LHV Banking Services

Reflecting on our third Money20/20 Europe, it's evident LHV Bank is now positioned as both the ’one-to-watch’ and ’market-leaders’ in the fintech space. Our ventures in Europe continue to set the standard for instant payments, with some of the largest names in fintech leveraging our advanced account and payment infrastructure to penetrate new markets and expedite their growth. This achievement sparked considerable interest at our booth, particularly with attendees eager to learn more about our growing impact in the UK market.

Our partners and customers often describe us as the ’tech company with a banking licence’ - a nod to our commitment to reliability, agility and accuracy, steering clear of the bureaucratic and sluggish norms of traditional banking. This approach has been crucial in our success, enabling us to adeptly support our customers. The landscape for fintechs is evolving rapidly, with increased customer and regulatory demands. It's imperative that providing a stable platform is balanced with developing products that cater to these evolving needs.

The conversations at the conference were telling. Questions flowed about how LHV could facilitate expansion into new territories, how we're tackling IBAN discrimination, and strategies for guaranteeing the success of instant payments.

Also, interestingly, the narrative around Banking-as-a-Service is shifting towards Embedded Banking/Finance. This transition reflects a broader trend where fintechs and marketplaces are enhancing their offerings to create more integrated, 'bank-like' user experiences. Despite our proposition being in its nascent stages, it didn't hinder the strong momentum we've seen from both current customers and prospects.

Mike Goodenough, Business Consultant for LHV Bank

It was fantastic to be a part of the LHV team at Money20/20 Europe. We have made significant progress in the last few months, evidenced in our presence and commitment to the event in Amsterdam. The energy and excitement generated with our clients and prospects was inspirational.

It was particularly exciting to see how some of the key themes from the event are also very much a focus of LHV. The payments trends were focused on localisation and clearly real-time infrastructure is key moving forwards; a requirement which also relates to the importance of Open Banking and the clear investment in taking this solution and the many use cases to the next level.

The lines continue to blur between e-commerce and banking, embracing new business models but with a strong focus on personalisation and customer experience. Wrapped around all of our discussions were the opportunities to enhance and improve many products, solutions and experiences with AI. In the coming years those organisations that embrace this fast-evolving technology will be well positioned to create competitive advantage.

Networking and Collaboration

A significant highlight of Money20/20 is always the abundant networking opportunities and this year the LHV Banking Services team were kept very busy. We connected with potential partners and fellow innovators, exchanging ideas that will help shape the future of our offerings. The spirit of collaboration and innovation was definitely palpable, proving once again the importance of events like Money20/20 in driving the industry forward.

Money20/20 Europe provided a platform for companies to unveil their latest products and services, highlighting once again the rapid evolution within the fintech sector. It was a pleasure to be part of the event and we look forward to continuing our journey with our partners and customers, as we work together to shape the future of fintech.

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