Relocation and Fintech: Article by Stephen Chen and Douglas Fritz

NuCompass team members, Stephen Chen and Douglas Fritz, came away from the Money 20/20 Fintech conference with a wealth of information and insights about digital evolution and financial technologies. In a recent article, Chen and Fritz highlighted five key takeaways from the event:

1. A Remarkable Change in the Composition of Exhibitors at the Show

A couple of years ago, more than half of the exhibitors at the conference were traditional payment or paytech companies. , This year showed the changing nature of the fintech industry, with a mix of identity and security-related companies, crypto and blockchain firms, payment companies, and a combination of other firms.

2. Crypto and DeFi Take the Spotlight 

The COVID-19 pandemic disrupted many aspects of life and businesses moved toward more digital payment methods and currencies. Money 20/20 left two clear conclusions on this topic: DeFi and crypto are the future of finance, but they also bring significant threats with them.

3. Web Fraud is a Growing Issue

Battling online fraud has been one of the biggest challenges of the last five years. Financial services need to do a better job at fighting digital fraudsters and sharing information with each other about suspicious activities. Many other key bank and cybersecurity players joined the financial fraud conversation.

4. Alternative Payments Methods

One of the hottest topics of the show were alternative payments. Speakers addressed the critical changes the finance world has experienced in the past five years. There is a growing need for business leaders to be prepared to meet these demands and adapt to a constantly changing financial world.

 5. The Utopian Dream of Digital Gold

The conversation around the value of data didn’t slip away. The big focus was around identity, security, and fraud solutions. Digital transactions being faster than ever before has led to complex privacy and security issues.

The Money 20/20 conference brought us together — in person — to discuss all kinds of topics around fintech that can impact the global mobility industry. Read the full article written by Stephen Chen, Sr. Vice President, Technology & Security, and Douglas Fritz, Sr. Vice President, Finance & Administration, in NuCompass News here.