The Digital Future in Finance: Battle of the Ecosystems

24 May , 11:00–12:15
Technology for Leadership
Panel Session
Pavilion F, Conference Hall F3
In partnership with Tinkoff Bank

The speed of change in the digital world sets the pace for competition. To an average user, the smartphone has become a one-stop shop for all services. It used to be enough for companies to do one job well; now they have to transform into ecosystems offering a one-stop shop for all the services their clients need in order to meet and exceed their customers’ new demands. Companies that started out in other industries (Amazon, Apple, Google, Alibaba) are migrating toward finance. Companies that used to operate exclusively in the financial sector are starting to adopt an ecosystem-based approach and branch out into related services. This approach is becoming increasingly common among Russian companies too. The clash of ecosystems penetrates into every aspect of competition between companies and drives the race for customers, talents and markets. The winner of the race will be the ecosystem that can meet the most customers’ needs and capture the most of their time. How do ecosystems come to be? What conditions lead to the birth of ecosystems in Russia and abroad? Are they the way to go or merely an attempt to square a circle? Should banks transform into tech companies to remain relevant in the age of ecosystems? How can financial companies avoid seeing their roles reduced to balance sheet providers as more online players with developed interfaces enter the sector? How can a company maintain leadership as an attractive employer and foster a creative environment in the financial industry, which is very much regulated and restricted by definition? What does a company of the future look like? Pursuit of the customer: what opportunities in terms of attracting and retaining customers do big data analytics and machine learning offer to ecosystems? What technologies will shape the future of financial organisations in the next five to ten years and is it reasonable at all to make such long-term projections in a highly dynamic world? Are financial ecosystems more collaborative or competitive? 2020 problem: how will the millenials with their changing habits impact the financial industry?

Ryan Chilcote, TV Host, Special Correspondent, PBS NewsHour

Greg Abovsky, Chief Operating Officer, Chief Financial Officer, Yandex
Li Wang, Head of Europe, Middle East and Africa, Ant Financial
Vasyl Latsanych, Chief Executive Officer, PJSC VimpelCom
Spiros Margaris, Venture Capitalist, Founder, Margaris Advisory
Ekaterina Petelina, General Director, Visa Payment System LLC
Oliver Hughes, Chairman of the Management Board, Tinkoff Bank