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BAI Beacon 16–October 5th, 2016 (shortcut)
BAI Beacon 16–October 6th, 2016 (shortcut)
FINTECH: ARRIVA IN LIGURIA “INNOVATION HUB”, LA SCOMMESSA NAZIONALE DI RIZZI SUL FUTURO DIGITALE DI BANCHE E ASSICURAZIONI
Sestri Levante, 29/11/2016
“The Fintech ecosystem is growing”, cresce l’ecosistema, quello della finanza tecnologica, che oggi a Sestri in Levante, con la cornice mozzafiato della Baia del Silenzio, ha visto ai nastri di partenza Innovation Hub.
È un progetto lanciato da FintechStage e, soprattutto, da Matteo Rizzi, che dopo vent’anni di successi internazionali nel settore bancario e finanziario, oggi è un investitore a caccia di talenti in giro per il mondo per il fondo di venture capital del papà di Ebay, Pierre Omydiar e che proprio da Sestri Levante è partito.
Innovation Hub è il “give back” del cofondatore di FinTechStage, una scommessa sul futuro della città dove è nato, ma in generale sull’Italia e sul futuro dell’intero ecosistema dell’innovazione.
Nella città ligure sarà avviata una Academy, con percorsi di mentorship e inclusione finanziaria, ma anche una rete nazionale e internazionale di esperti e consulenti di primissimo piano, i “Fintech Leaders”, che avranno il compito di aiutare le istituzioni bancarie, finanziarie e assicurative italiane a completare pienamente e velocemente il processo di trasformazione digitale, grazie anche al coinvolgimento delle startup e delle piccole medie imprese innovative italiane.
Con l’introduzione dei lavori a cura di Fabio Bongiorni, partner di FinTechStage e l’intervento introduttivo del padrone di casa Matteo Rizzi, l’evento di lancio ha visto anche la partecipazione di Roberto Ferrari, general manager di CheBanca!, Serena Torielli, CEO di AdviseOnly, Matteo Carbone, principal per Bain & Company e Aldo Pecora, responsabile editoriale di SmartMoney.
Guardate il video qui: https://t.co/ej3uWZ7I91
Matteo Rizzi, fondatore di FintechStage e tra i 40 professionisti del Fintech più influenti d’Europa secondo Financial News, presenta le principali sessioni del Salone dedicate al mondo del Fintech e delle start-up. Oggi queste realtà tecnologiche stanno svolgendo un ruolo centrale nell’evoluzione dei pagamenti e del mondo finanziario. Ma per sfruttare le potenzialità e le ricadute a livello di Sistema Paese serve una maggiore attenzione da parte delle istituzioni. E per evitare che le nostre Fintech emigrino all’estero alla ricerca di capitali e di più opportunità di sviluppo …
Want to see the 1st session of the U.S. debut of @FinTechStage? View Game of Fintech Thrones here: buff.ly/2dNJ8tx #Beaconflashback
Matteo Rizzi conducts business in four different languages, but he may be most fluent in the language and culture of FinTech. The Italian native has spent more than 20 years cultivating relationships with banking executives, investors and entrepreneurs, allowing him to bridge the gap between traditional banking and the technology that’s disrupting the industry.
In 2015, Rizzi co-founded with Lazaro Campos FinTechStage, which holds events and conferences around the world to advance innovation and collaboration in financial services. Aiming to be what he describes as the “the glue of the global FinTech ecosystem,” FinTechStage has held conferences in cities such as Milan, Amsterdam and Buenos Aires – and later this year, the U.S.
FinTechStage will make its U.S. debut Oct. 5-6 in Chicago at BAI Beacon, the new immersive conference for financial services leaders.
With a background in technology, entrepreneurialism and venture capital, Rizzi is a venture partner with Omidyar Network, a philanthropic investment firm established by eBay founder Pierre Omidyar. From 2013 to 2015, he was a partner with SBT Venture, one of the first funds focused on Series A investments—the initial, significant round of venture capital financing for a startup.
We talked to Rizzi about FinTechStage’s upcoming appearance at BAI Beacon.
Q: Why did you choose BAI Beacon as the site of the U.S. premiere of FinTechStage?
A: The reason is very simple. When I spoke at a BAI event earlier this year, I realized there is an immediate synergy between FinTechStage and BAI, the strongest U.S. financial services association. We live and breathe FinTech and disruption, and BAI wants to make FinTech and disruption a bigger focus because of its impact on the financial services industry. So it’s a marriage made in heaven.
Q: Why should someone interested in FinTech attend the conference?
A: Because of digital disruption, which is now focused on the financial services industry. Attendees will learn how FinTech will impact the next 10 years of banking. We have built anagenda that is both wide and deep. There is generic information at other conferences on how FinTech is relevant for different spaces in the financial services industry, including payments, blockchain, digital banks, digital currencies and more. But the people we invited as speakers have great expertise and will go into great depth in each of these topics that are very relevant for the BAI community. We will also have a number of entrepreneurs and startups who will give their perspectives on what type of solutions work for their customers.
Q: Who is the target audience?
A: FinTechStage is tailored for a variety of leaders, including line of business executives and innovators. And by innovators, it’s really more of a state of mind rather than a specific job at a bank such as marketing, upper management, corporate banking, payments, technology or security. The conference will allow you to go beyond the day-to-day business of banking and understand what’s coming next for financial institutions.
Q: What will an attendee learn?
A: They’ll learn a lot about how technology can produce customer-centric solutions that are cheaper, better and faster. They’ll learn about topics on the next frontier of FinTech like digital intelligence. Best of all, attendees will learn from each other through the networking opportunities between the BAI and FinTechStage communities. They will interact in a different and more effective way that stimulates working, learning and collaboration.
Q: What are some of the relevant issues in FinTech?
A: So far, FinTech companies have focused on the typical inefficiencies of financial institutions. That is how FinTechs get their start. Take any of the traditional businesses at financial institutions like payments, mobile payments, lending, asset management or digital identity. All of these segments have been targeted by different startups from around the world with faster, cheaper experiences for the customer. The two biggest potential disrupters of the financial services industry are distributed ledgers and blockchain. They could potentially become a new way for payments and smart contracts.
Q: Should bankers fear FinTech?
A: Definitely not. There are very few startups that are competing with financial organizations and not willing to cooperate. The vast majority of the startups are actually seeking collaboration with financial institutions. From what we have observed in different parts of the world, many banks are either sponsoring or building or participating with incubators, accelerators and startup initiatives. Also, many financial institutions are building up their own venture capital programs to better position themselves for growth in the startup world. Every day, we see new agreements between the two groups.
“Software is eating the world,” explained Marc Andreessen, Netscape co-founder and partner at venture capitalist firm Andreessen Horowitz, in his famous essay.
Clusters of FinTech startups have since emerged around the world leading a rethinking of financial services, including all aspects of payments, credit, investment, and banking.
Over the past several years, I’ve had the opportunity to travel throughout the world and meet the people and companies that are driving this FinTech revolution. I’ve observed the evolution of FinTech ecosystems through various stages of development and I would characterize them as follows:
Disconnected – In many countries, some form of gathering for startups and related capital has appeared. FinTech is a “wave” being talked about, but there is no dedicated place to have a meaningful discussion. At best, there is a Meetup around a beer (no disrespect intended; it’s actually a great excuse to have a beer with like-minded people).Connected – FinTech initiatives appear in the form of conferences and events, as well as incubators and accelerators sponsored by financial institutions or private ventures. Often, there’s a shortage of local FinTech capital available, but global VCs have these countries on their radar.
Organized – A local FinTech catalyst emerges, usually some sort of non-commercial government and/or community-backed body, fostering a sense of sharing and collaboration. Examples includeLuxembourg for Finance, Holland FinTech, FinTech CH, Innovate Finance, France FinTech,FinTech.HK and others. While some countries struggle with large banks that don’t play well together, organized FinTech ecosystems understand how engagement with local start-ups, investors, and other innovators from around the world builds value.
Recognized – London and New York are key examples of recognized FinTech ecosystems of global importance. For Singapore and Honk Kong, we have to differentiate between the financial services centers (of which they are clearly examples) and recognized FinTech ecosystems – into which they may be transforming.
In Canada, a growth in regional FinTech events, as well as the emergence of collaborating organizations such as MaRS FinTech Cluster in Toronto and the Digital Finance Institute in Vancouver, are reflective of the country’s rapid evolution from a connected into an organized FinTech ecosystem.
The recent launch of the Global FinTech Hubs Federation initiative by Innotribe is a much-needed effort to foster collaboration among the international FinTech community “to create a truly cross-border and open platform that brings together established and emerging FinTech hubs.”
In partnering with BAI Beacon, FinTechStage (the organization that I co-founded with Lazaro Campos) seeks to fulfill our mission to help create, structure, and bridge FinTech ecosystems globally. Together with BAI, we will provide a deep learning FinTech experience, together with exposing the community to what we believe are some of the best startups and strategies fueling the disruptive thinking being applied to financial services.
We hope you will join us in growing this dynamic new global FinTech ecosystem by coming to Chicago, October 5-6, 2016, for BAI Beacon featuring the North American premiere of FinTechStage.
BetaKit’s FinTech coverage is brought to you by FinTechStage @ BAI Beacon. Register now for two days of world-class FinTech content around industry trends, cyber security, payments and block chain.
In a now famous essay five years ago, Marc Andreessen, Netscape co-founder and partner at venture capitalist firm Andreessen Horowitz, explained “why software is eating the world” – and where he was putting his money.
In the intervening years, what has clearly emerged is that one of the industries that software is eating is financial services, including all aspects of payments, credit, investment and banking.
Over the past several years, I’ve had the opportunity to travel throughout the world and meet the people and companies that are driving this FinTech revolution in financial services. Through those interactions, I’ve observed the evolution of FinTech ecosystems through various stages of development in a number of countries and regions.
As I see it, there are four main categories of FinTech ecosystems: Disconnected, Disorganized, Organized and Recognized. Here’s how they might be characterized:
- Disconnected – In many countries there is some form of startup gathering and related capital, and even a significant banking presence. FinTech is more a “wave” they see being talked about, but there is no dedicated place to even have a meaningful discussion. Capital and start-ups are definitely not focusing on FinTech, and at best there is a Meetup around a beer (no disrespect intended; it’s actually a great excuse to have a beer with like-minded people).
- Disorganized – Until about a year ago, this category (in developed countries) was by far the largest. In this type of ecosystem, you can easily identify the FinTech initiatives, either from financial institutions or private (sponsored) incubators and accelerators and few local gatherings on the topic. VCs have these countries on their radar, and often there is little local FinTech capital available, mostly because the effort of local scouting is left to the goodwill of the global investors themselves. Disorganized eco-systems tend to hold local events, for the purpose of getting together the different pieces of the system. The emerging MaRS FinTech Cluster in Toronto is an example of this stage of ecosystem evolution. To exchange ideas with other global experts, members of disorganized FinTech ecosystems have to go abroad.
- Organized – In an organized FinTech ecosystem, a local catalyst emerges and this usually works best when this role is taken up by some sort of non-commercial government and/or community-backed body. Examples include Luxembourg for Finance, Holland FinTech, FinTech CH, Innovate Finance, France FinTech, HK and others. A strong nuance between disorganized and organized FinTech ecosystems is the sense of sharing and collaboration that exists in the latter. While some countries are still struggling with large banks that don’t play well together, organized FinTech ecosystems understand how engagement with local start-ups, investors, and other innovators from around the world builds value.
- Recognized – London and New York are key examples of recognized FinTech ecosystems. For Singapore and Honk Kong, we have to differentiate between the financial services centers (of which they are clearly examples) and recognized FinTech ecosystems of global importance – into which they may be transforming.
The US FinTech ecosystem is by far the largest in the world. Although New York is arguably the center of the US FinTech ecosystem, Silicon Valley is rapidly emerging as a role model in nurturing the best start-up ecosystem, in large part due to the increase in the past 18 months of large VC (Andreessen and Horowitz, Sequoia, 500 Startups, etc.) involvement, many with dedicated teams and resources in this sector.
In partnering with BAI Beacon, FinTechStage seeks to fulfil our mission to help create, structure, and bridge FinTechecosystems globally. Together with BAI, we will provide a deep learning FinTech experience, together with exposing the community to what we believe are some of the best startups and strategies fueling the disruptive thinking being applied to financial services.
We hope you will join us in growing this dynamic new global FinTech ecosystem by coming to Chicago October 5-6, 2016 for BAI Beacon and FinTechStage.