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Reflections on Money20/20: Insights from Keiu Kalaus, CPO of Mifundo

Reflections on Money20/20: Insights from Keiu Kalaus, CPO of Mifundo

Money20/20 is one of the leading international conferences on financial technology and innovation, gathering thousands of executives, visionaries, entrepreneurs, and thinkers from the world of finance. It serves as a platform to discuss and showcase the latest trends and developments, ranging from payments and banking to regulatory tech and the intersection of finance with technology. The event covers a broad spectrum of topics including digital identity, blockchain technology, artificial intelligence in banking, and much more.

Looking back on last year's Money20/20, it’s clear that such events are crucial for fostering connections that might otherwise be difficult to establish. As highlighted by Ana Botín, CEO of Santander, "Money20/20 gives you the unique opportunity to connect with companies and people that you usually would not see, all in one place." This aligns perfectly with why Mifundo attends: to engage directly with the right banks and the right people.

Why Money20/20 Is a game-changer for Mifundo?

Attending Money20/20 is both an honor and a strategic move for Mifundo, as we were chosen for the second consecutive year to represent Estonia in the national pavilion. This event allows us to spotlight Mifundo’s innovative solutions on a global stage and emphasize our role in advancing the banking sector.

Last year's highlights by Keiu Kalaus (Mifundo’s CPO)

Keiu shares that last year's participation yielded significant benefits:

  • Valuable contacts: we made connections with key industry stakeholders, which remain strong to this day.
  • User validation: the event provided numerous use cases from banks and end-users, which validated the necessity of our products.
  • Feedback for refinement: direct insights from banks and clients have been crucial in enhancing our offerings.

Who should connect with Mifundo at Money20/20?

Banking Innovation Leaders, Fintech Partnership Managers, Sales Directors, and Credit Risk Managers will find Mifundo’s solutions particularly relevant. Their presence at the event ensures that they can discuss tailored use cases and approaches with each interested party:

  • Innovation and Partnership Managers: Mifundo offers a novel solution not yet seen elsewhere in Europe but making waves across the Atlantic.
  • Sales Directors: Mifundo facilitates upselling and business growth, including servicing clients previously out of reach.
  • Credit Risk Managers: Mifundo's solution significantly reduces risks associated with new customer segments by up to sevenfold.

Why is missing out on Mifundo’s innovations a missed opportunity?

For major banks with substantial market share, the focus isn't on acquiring new clients but on maximizing the potential of the existing customer base. Feedback indicates that Mifundo’s services could cater to about 15% of a bank’s dormant client base, turning untapped potential into active engagement.

The urgent call for cross-border financial solutions

With the European Commission advocating for cross-border financial solutions, banks are encouraged to adopt innovative strategies sooner rather than later. Mifundo positions banks to leverage their full customer base potential amidst the growing trend of digital nomads, recognized during the COVID pandemic as people discovered that work does not require an office setting.

Visit us at Money20/20 this year to explore how Mifundo can transform your approach to banking in a multicultural and increasingly mobile world.

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Building the prototype for the Cross-Border lending Project was supported by European Union through European Regional Development Fund and Enterprise Estonia. Grant was in the sum of 35 000 euros and total cost of the project was 52 560 euros. 

Cross-Border lending powered by Artificial Intelligence is supported by European Union through European Regional Development Fund and Enterprise Estonia (project number 2014-2020.4.02.21-0372). Project period is 12.02.2021 - 31.12.2023. Grant is in the sum of 691 260,05 euros and total cost of the project is 1 069 189 euros.