Summary of Keynote speech – Anders Olofsson, Head of Payments at Finastra, Banking 4.0 - 2021

00:00:00 - 00:20:00

Anders Olofsson, Head of Payments at Finastra, discusses the role of technology in transforming the banking industry. He predicts that the winners in this new environment will be the large technology companies, while the traditional banks that don't adapt will become obsolete.

• 00:00:00 The presenter discusses the "perfect storm" of trends driving banking and payments changes, including the Payment Service Directive 2 and the rise of fintechs. He predicts that large technology companies will be the winners in this new environment, while banks that don't adapt will become obsolete.
• 00:05:00 In his keynote speech, Anders Olofsson, Head of Payments at Finastra, Banking 4.0 - 2021, discusses the various drivers transforming banking, including the rise of digital consumption and platforms, the impact of blockchain technology, and the sovereignty concerns of nations. He also discusses the role of customers in this transformation, and how they are interacting with banks in a digital world.
• 00:10:00 In his keynote speech, Anders Olofsson of Finastra, Banking 4.0 - 2021, discusses how the changing customer journey is leading banks to rethink their entire business model. He highlights the importance of digital platforms in enabling customer interactions that are never isolated to banking experiences, and how this is leading to a separation of banking functions between manufacturing and sales and distribution.
• 00:15:00 The speaker discusses the trends that are likely to affect banking in the next few years, namely the separation of the value chain between distributors and manufacturers, the consolidation of banks, and the increasing importance of big technology companies and traditional retailers in the industry. He predicts that, as the role of brands and retailers diminishes, the fintechs will take over as the dominant players in the corporate banking space.
• 00:20:00 In his keynote speech, Anders Olofsson, Head of Payments at Finastra, discusses the role of banking 4.0 in 2021 and how technology will play a major role. He predicts that the winners will be the consumers, while the losers will be the traditional banks and their suppliers.