Fintech (r)evolution
Fourth edition of a conference on cashless society and business
25/10/2017

The Czech National Bank, Prague

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Fintech (r)evolution

Fourth edition of a conference on cashless society and business  

FinTech which has become a synonym of a fusion between digital technology and financial services represents a milestone in the history of capitalism similar to the boom of double-entry bookkeeping in the medieval Republic of Venice.

Both of these periods also represent evolution resulting from the collaboration of various experts and disciplines. In the 10th century they were Venetian merchants and bookkeepers. Nowadays they are bankers and programmers. Thanks to them online transactions between individuals and institutions reel off really fast, like the Swedish mobile application called Swish (as its name suggests), for example. Every second citizen of Sweden uses this popular FinTech service and along with thousands of other institutions even Swedish churches use Swish to accept charitable gifts.  

It was the consistent pairing of entries into “credit” and “debit” columns, the principle of which had been known even earlier, which gave the Venetian merchants a clear view of the state of their finance at all times. In this way they could invest in the building of a naval fleet and contribute to the boom of the Republic. At the height of its fame the Republic of Venetia ruled over large areas in the Mediterranean, Adriatic and Black Sea. The consistent use of possibilities enabled by digitalisation is a chance for modern “Venetian merchants” and programmers to “swish” into the control over the banking and financial world.  

Speaking of historical and geographical analogies, it is true nowadays that Sweden is ahead of others on the path to cashless society. This conference will certainly close the gap somewhat. 

About the Conference

Economia Media House and Hospodářské noviny daily are organising the 4th edition of a specialised conference under the auspices of Mojmír Hampl, Vice-Governor of the Czech National Bank.
The main topic is the current phenomenon of the ever growing share of Fintech in the banking sector. Startups developing technologies for financial services are not necessarily a threat for the traditional financial institutions but, on the contrary, if banks manage to establish cooperation with these FinTech companies, they can become an opportunity for them to attract new customers. This is the reason why banks increase their investments in the financial startups. 

Agenda

8.30 – 9.00 Registration, welcome coffee

9.00 - 9.10
Opening word, representative of Economia / representative of ČNB

9.10 - 9.50
KEYNOTE FinTech vs. Bank / Meaghan Johnson, Director of Research, 11:FS (UK)

9.50 - 10.20
KEYNOTE Banks need change / Markus Rupprecht, CEO, Traxpay AG (GER)

10.20 - 11.00
Panel discussion: What is the future of financial services?
Meaghan Johnson, Director of research, 11:FS (UK)
Markus Rupprecht, CEO, Traxpay AG (GER)
Jan Lamser, CEO, RedEggs

11.00 – 11.20 Coffee break

11.20 - 11.30
How is the central bank preparing for the upcoming FinTech revolution? /
Mojmír Hampl, ČNB

11.30 - 12:15
Panel discussion: How are central banks preparing for the future?
moderator: Leoš Rousek, chief analyst, Hospodářské noviny
panelists:
Mojmír Hampl, ČNB
Pavel Kysilka, 6D Academy
Miroslav Singer, Generali CEE Holding & Česká pojišťovna & MONETA Money Bank
Zdeněk Tůma, KPMG

12.15 - 12.40
New technologies and vision of payment services in 2018+ / Miroslav Lukeš, CEO, MasterCard Europe

Agenda

12.40 - 13.40 Lunch

13.40 – 14.00
Will London Survive as a Fintech Trendsetter after Brexit? / Rahul Sharma, Deloitte 

14.00 - 14.20
Legislation: FinTech in Czech Republic and crowdfunding / Jan Šovar, AK Kocián Šolc Balaštík

14.20 - 14.30
Case study: Experiensies from Poland/ Bartosz Berestecki, PayU

14.30 - 14.40
Conclusion and recommendation

14.40 - 15.00 
Case study / Michal Šmída, CEO, Twisto

15.00 - 16.15 
Deloitte: Competition for Fintech and Insurtech startups
Senta Čermáková, Deloitte
Petr Kalanyos, Deloitte

16.15 – 16.20 
Conclusion, recap 

Our speakers

Markus Rupprecht after spending over a decade at Deutsche Bank and becoming one of the company’s youngest ever Assistant Vice Presidents, his passion for disruptive technology led him into senior roles with multiple tech pioneers. He has previously served as Director at Hitachi Consulting, Sales Director at Software AG and as a Partner at ePayCom. Mr. Rupprecht has found an outlet for his entrepreneurial spirit by founding two German-based FinTech start-ups since 2009 – namely Traxpay and InvoiceAuction. He continues to explore fresh ways of overhauling the industry he has worked in for more than 20 years by acting as an advisor and business angel for other FinTech start-ups worldwide. 

Meaghan is Co-Founder and Director of Research at 11:FS. Having provided competitor intelligence and benchmarking research to dozens of global financial institutions over the last five years, she lives and breathes what banks, disruptors, and FinTech vendors are currently offering and how they can be improved.She regularly features on FinTech Insider, #1 business podcast on iTunes, listened to in over 152 countries.

Mojmír Hampl was appointed a member of the Czech National Bank Board on 1 December 2006 and on 1 December 2012 he was appointed a Vice-Governor of the Czech National Bank for the second six-year term. Since 2008 he has been representing CNB in the EU Economic and Financial Committee and since 2011 in the Financial Stability Board Regional Consultative Group.

Pavel Kysilka graduated from the University of Economics in Prague. In 1990 – 1991 he worked as an advisor to the Minister of Economic Politics. In the 1990s he was Vice-Governor and Executive Governor of the Czech National Bank. 

Miroslav Singer is a Czech economist, in 2010 – 2016 Governor of the Czech National Bank. Since 2017 he has been the director of institutional relations and chief economist at Generali CEE Holding, Chair of the Supervisory Board of Česká Spořitelna and Vice-chair of the Supervisory Board of MONETA Money Bank.

Miroslav Lukeš worked for McKinsey & Company for more than six years, he was also a Head of Strategy at GE Money Bank and in November 2011 he joined MasterCard where he is currently a CEO of MasterCard Europe for the Czech Republic, Slovakia and Austria.

Zdeněk Tůma, former Governor of the Czech National Bank, is responsible for advisory services for the financial sector. He is also an advisor in sports, lotteries and games. 

Jan Šovar concentrates namely on the capital market and related aspects of international private law. He also works on payment systems focusing on contractual law covering payment transactions, electronic money and impact of new technologies in this area. He has worked for the Committee of European Securities Regulators, an advisory body of the European Commission in Paris, and for Deutsche Bank in London. For many years he has been in charge of the capital market legislation at the Ministry of Finance.

Michal Šmída is building a new generation of financial services in the Czech Republic. After graduating from King’s College he started in investment banking at Barclays Capital in London. In 2013 he returned to the Czech Republic and developed Twisto, a FinTech company providing payment services of the future. Backed up by strong investors – Enern, Miton and Partners – the company served 200 thousand Czech citizens and introduced innovative payment methods (e.g. Snap for the payment of bills). Michal and his team are currently working on expanding in the East European markets. 

As a Regional Director of Legal and Compliance at PayU since October 2015, Bartosz Berestecki is in charge of legal, regulatory and compliance matters at PayU companies across CEE, Turkey & Russia. He reports directly to CEO EMEA and PayU General Counsel.  Bartosz Berestecki is a legal counsel with many years of experience. In 2010 he received a Master of Business Administration degree from the University of Minnesota, USA. Before joining PayU Group, Bartosz worked in the Warsaw-based office of White & Case Law firm. Afterwards, as a Head of Legal, he managed the legal and corporate department at Deutsche Bank PBC S.A., while before joining PayU he was building and developing the Polish branch of one of UK based consumer banks. 

Jan Lamser has worked in executive positions in the banking sector. Currently he is involved in several projects in FinTech, New Proximity and alternative reality. He is a patron of the Czech Fintech Association, president of the Czech Chess Association, member of the Institute of Computer Science Council at the Academy of Sciences of the Czech Republic. He focuses on games. 

Leoš Rousek graduated from Charles University and obtained his MA in international relations from Columbia University. Then he worked for the Voice of America in New York and in various positions at Dow Jones Newswires and The Wall Street Journal in Europe and Russia. In 2016 he prepared the Business Monitor24 project for Echo Media.

Michala Hergetová is a TV economic commentator. In 2005 she graduated from business and European law at the Faculty of International Relations at Prague University of Economics, she also studied European studies and business finance at Staffordshire University in the UK and at University of Antwerp.

Rahul Sharma leads the financial services insights team at Deloitte, which generates thought leadership including publications based on the trends, challenges and opportunities within the financial services industry. He has over sixteen years of investment experience as a fund manager in global roles at firms including Alliance Bernstein, Citigroup and Martin Currie. At Neev Capital, which he founded, he advised mid-sized firms on capital raising and on messaging to investors. He has also been a regular commentator in print and broadcast media including the BBC, CNBC, Financial Times and Bloomberg.

The Conference Cashless Society 2016

Fintech r(evolution)

Fourth edition of a conference on cashless society and business

Technologies change the world at an unprecedented pace. This applies to banking and payment services where the biggest changes in the last fifty years are taking place. The time-tested banking model no longer works in many respects and the pressure on innovation, quality and price is growing. There is a groundswell of FinTech that can lift traditional banks to new heights or, on the contrary, sink them.

Top Czech and international experts from banking and FinTech sectors will share their experience and practical advice including, for example, Meaghan Johnson, director of research at the British blockchain 11:FS platform or Markus Rupprecht, CEO, Traxpay AG. 

One of the highlights on the agenda will be a discussion among current and former governors and vice-governors of the Czech National Bank featuring Mojmír Hampl, Pavel Kysilka, Miroslav Singer, and Zdeněk Tůma, which will be moderated by Leoš Rousek, chief economic analyst at Hospodářské noviny. 

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