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European Identity & Cloud Conference 2014
13.05. – 16.05.2014, Munich, Germany

Moderator:

The Future Model of Banking

15.05.2014 14:30-16:30

The Future Model of Banking

Banks, which were among the first industries to adopt computing technology on the back end, have always been late to bring technology to the front end, it would seem. But that’s all changing as traditional ideas of banking are falling by the wayside.

Besides the, now old-hat, 24-hour ATM/Cashpoint, many banks now allow you to pay bills, transfer funds – even make deposits – with your mobile phone or tablet.

Next on that horizon is cryptocurrency (such as Bitcoin) so that mobile phone withdrawals become possible.

But beyond the electronic wallet, what can the banks do to attract, and keep, customers? Identity services, based on trust and reputation with secure protocols as part of an open API economy hold out the possibility that banks could find new venues even as old ones disappear. Enabling secure transaction services via APIs on any device, everywhere, seamless to use and keeping privacy in mind is one of the key success factors of the future banking business models. But those banks that don’t adjust, can’t adapt or refuse to see beyond their traditional market will be left in the dust of history.

In the Finance Industry, more than in any other industries, Information Security is becoming a #1 business enabler. Securely exposing APIs and moving to new service models; supporting and embracing crypto-currency evolution; combining trust, reputation, and privacy for these business models and innovative retail and private banking: All this is based on making maximum use of what Information Security allows today. Information Security will not change banking. But it will banks enable to change themselves. Not to forget the fact that Information Security is a key element of regulations and governance.

This roundtable discussion will explore those new avenues, which can revitalize banking and propel it to the forefront of the consumer revolution.

Roundtable: The Future Model of Banking (continued)

15.05.2014 17:00-18:00

Roundtable: The Future Model of Banking (continued)

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