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Agenda

Telecoms & Finance Convergence Summit

Conference
Industry 4.0,AI,Digital Trust

Date & Time

Friday, 28 Jun

13:30 - 16:30

Location

SNIEC, Hall N5, Auditorium A

Description

In many emerging markets, the unbanked comprise over 70% of the population. Meanwhile mobile phones are nearly ubiquitous, with penetration passing the 100% mark several years ago. Telecom operators have been offering basic mobile wallets, accessible from feature phones via SMS, which allow users to carry out money transfers, and other transactions without ever needing to visit a bank. Mobile phones have not only changed the way people communicate, they have also become an important tool for financial services. On one side, banks contribute an existing financial network, infrastructure, and strong brand recognition, while contending with regulatory compliance. Telecom operators, meanwhile, deliver wide distribution networks, mobile network infrastructure, and an expansive customer base. As both industries have started to converge the question becomes “are banks becoming telcos or telcos becoming banks?” Additionally with the large tech companies throwing their support behind the creation of a real-time payments network, what does this mean to the greater banking and telco landscape?