Good businesses create products for themselves. Great businesses create products with their customers in mind. Excellent businesses create products for the world their customers live in.
As an industry, we’re well on our way to understanding what best-in-class UX looks like and putting the customer at the heart of everything we do. But it’s time for the next stage of our mission: pulling our focus away from short-term gains and incremental change, and opening our eyes to what radical wins for the customer really look like.
How do we bridge the myriad of contexts our customers are constantly switching between to build a more convenient experience? How can we understand the environment in which our customers operate so well that we can design entirely new categories of products that bring finance into the moments where it's needed most?
How can we make fintech everywhere and nowhere?
In our quest to build entirely new categories of products, who do we want at the table?
Pure-play competition is giving way to new partnerships and forms of collaboration, not only between parties with clearly complementary offerings, but also amongst those that we’d never have expected would find synergies. Unorthodox cross-industry alliances will result in ingenious solutions delivered through embedded and contextual finance.
We have been insulating our industry against external forces and elements. Now, it’s time for us all to become superconductors, liberating our data and customers in pursuit of better outcomes for all.
The traditional matrix of fintech players has imploded, and pools of resources, data and customers are hiding in unexpected places you haven’t even thought to explore. Whose assets and capabilities augment ours and how do we sniff them out?
After we know what we want to build and who we want to build it with, comes the most important part: how to make a scalable business out of it.
Investors, customers, and partners expect us to be their agent of stability and trust in an unpredictable world. How do we implement radical product thinking, but in a way that guarantees durability and resilience both for our own organisations and for the communities we're serving?
Longevity is not about winning every battle, but about picking the ones that are worth the fight. Having strong and smart feedback loops ingrained into every decision and moment of interaction will allow us to adapt in everevolving circumstances and build up our endurance.
What’s the science of brilliant implementation, and what’s the art?
We have the power to architect the environment we are building within. This is our domain: what do we want it to look like?
Visionary regulation and infrastructure is that which allows us to take risks and is fortified by the outcomes - good or bad.
A pan-European technological fabric could force open, market-wide standards for payments and trust, while allowing us to maintain control over our industry’s stability and direction. By clearing the way for increased liquidity and interoperability, we can lower barriers to entry and support innovation across the region and beyond.
How do we create an environment intelligent and responsive enough not just to enable or even to accelerate progress, but to turbocharge it?
Interesting people gravitate towards interesting solutions, even if the problems they solve aren’t clear yet.
Edge-case technologies need oxygen, nourishment and dialogue to grow into the transformational tools of the future. We are the community that decides which ones flourish, and by experimenting without expecting immediate results, we may just stumble upon the seeds of our next billion-euro idea.
What are the micro issues of today that will be macro concerns tomorrow? What unreasonably audacious R&D projects and POCs can we take one step further in service of a goal or a customer we can’t see yet?
And what becomes possible once we have done the impossible?