18th April, 2016
Last week, Strands was in the undisputed global FinTech hub to participate in two major industry events:
From April 13-15, Strands participated in the 2016 Efma Distribution Summit, also known as #EfmaDS16. This event is Efma’s largest symposium where the leading executives in distribution come together to discuss the financial services of tomorrow and address today's major threats and opportunities.
It is also the 2nd consecutive year that Strands is sponsoring the Efma Distribution Summit. "The 2016 edition proved to be one of the key meeting points for top executives from top-tier banks worldwide," commented Strands Marketing Director Victoria Yasinetskaya. "Together we were able to share experiences and discuss the evolution of channels and how banks can tailor their services to evolving needs of their customers."
Also representing Strands was VP Sales and Operations Cesar Richardson, who said: "It was great to meet with current clients (Deutsche Bank, Leumi, BNP Paribas) and also to make new contacts and discuss how Stands can help in powering FinTech innovation according to the priorities and digital roadmap of each institution. Hats off to Efma for knitting such a strong community together!"
Cesar presented Strands Finance Suite of digital money management solutions on Day 2, during the FinTech Conference in which 7 companies were selected to present their latest and greatest innovations. Cesar's key message that "data monetization makes digital banking a personal experience" resounded well with the audience of leading executives and experts in distribution of financial services from around the world.
You can find more Efma Distribution Summit highlights as well as study presentations here.
Later on the evening of April 13th, Victoria, Cesar and General Manager Pau Velando headed to The Brewery to attend The FinTech Innovation Awards, organized by Bobsguide - the leading web resource for financial technology.
Strands was joined by colleagues from our partners Temenos and Bank of Ireland for a great evening of celebration including champagne reception, three-course dinner and the awards, all followed by entertainment and networking. Some of the highlights include:
"It was a great honour and pleasure to sponsor these awards, a fantastic way to highlight and celebrate some real trailblazers in our dynamic industry," said Pau, who presented the award for FinTech Innovator of the Year to Giles Andrews, Executive Chairman and Co-Founder of P2P lending pioneer Zopa.
Strands Marketing Director Victoria Yasinetskaya said: "We were very impressed by scale of the gala dinner and diversity of innovators. For me the highlight of the ceremony was the keynote by Dan Ariely - very insightful." Mr. Ariely is a bestselling author and Professor of Psychology and Behaviour at Duke University. He spoke about the psychology of money and how FinTech has the potential to mitigate the “pain of paying.”
"He explained how we think about money in relative terms," Victoria continued. "For instance, you would not make an extra effort to save €5 on a purchase that is worth say €1000, but you would definitely do that for a purchase worth €15."
Mr. Ariely also mentioned how the “pain of paying” is much greater when it is in cash vs credit card or mobile. That's why more credit card usage usually results in a greater number of people with debt problems.
"What struck me most from his research is the following: nothing in our environment encourages us to save, everything around us encourages us to spend. At Strands we are trying to break this vicious cycle with pro-saving solutions like PFM, which help users understand the importance of controlling daily expenses and help them become more disciplined to save and realise their financial goals."
For more highlights from The FIAs, click here.