AltFi Festival of Finance 2022 Debrief

05/25/22 • 21 min

This episode revolves around AltFi Festival of Finance 2022.

TransUnion was the headline sponsor for the event (held 27-28 April), that brought together key players in the alternative finance and fintech space. Over the course of the two days the spotlight was shone on product development, industry-wide challenges and disruptive innovation.

Host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by VP of FinTech, Steve Wishart, and Praneeth Meka, Senior Director Data Science and Analytics, to discuss some of the main themes that emerged during the festival. Asia asks Steve and Praneeth about the importance of trust in the digital economy, the evolution of buy now pay later (BNPL) from version 1.0 to 2.0 and what this could mean for consumers and businesses, customer experience (CX) and the opportunity presented by open banking.

Useful links:

The TransUnion consumer research white paper referenced by Asia and Steve is the Consumer Credit 2022: Responding to Challenge and Change. Download it to get a better understanding of consumer attitudes and preferences towards finances in 2022
Read up on how TransUnion are helping to shape the future of BNPL - TransUnion Is First UK Credit Reference Agency To Accept Buy Now, Pay Later Data
More information on the AltFi Festival of Finance 2022 can be found on the event microsite

This episode revolves around AltFi Festival of Finance 2022.

Useful links:

The TransUnion consumer research white paper referenced by Asia and Steve is the Consumer Credit 2022: Responding to Challenge and Change. Download it to get a better understanding of consumer attitudes and preferences towards finances in 2022
Read up on how TransUnion are helping to shape the future of BNPL - TransUnion Is First UK Credit Reference Agency To Accept Buy Now, Pay Later Data
More information on the AltFi Festival of Finance 2022 can be found on the event microsite

Previous Episode

How Startups Can Get Their Data Strategy Right With KPMG

According to Technation.io, UK tech VC investment is the third biggest in the world, hitting a record high of $15bn in 2020, with the UK tech startup and scaleup ecosystem valued at $585B. These tech pioneers are disrupting the status quo, creating new digital experiences and standards.

This episode focuses on tech startups, covering those going through initial funding rounds to organisations wanting to evolve their data strategy as they grow and navigate the challenges of a maturing business.

Presented by Lisa Meynell, Account Director in the FinTech team here at TransUnion UK, our expert guests are:

Dai Duong, a Partner at KPMG. Dai leads the Modelling and Analytics business in the UK, with a particular focus on Financial Services clients.
Gareth Howell, Head of Data Solutions at TransUnion in the UK, responsible for data strategy and the inward supply of new data sources and leveraging existing assets.

Topics covered in this podcast include emerging trends in the startup space, the components and commercial benefits of a robust data strategy, and the skills and team mix needed to make this work.

Additional notes:

the last funding round mentioned approx 9 minutes into the podcast was July 2021.

Next Episode

Open Sesame: The Opportunity for Open Banking in 2022

In the UK we're five years into the open banking journey that’s enabled consumers to share their current account information securely with third-party providers in exchange for tailored financial products and services. The macroeconomic challenges of the cost of living crisis, the COVID-19 pandemic, as well as rising property and rental prices, are putting financial services and credit products under the microscope. In parallel, the technology is continuing to evolve with the Open Banking Implementation Entity's (OBIE) publication of the Open Banking Standard version 3.1.10, the final release under the Competition and Markets Authority (CMA) revised roadmap. This makes it an ideal time to dive into the world of open banking, to understand its development and potential to help consumers and businesses create better outcomes.

In this episode regular host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by Praneeth Meka, Senior Director Data Science and Analytics, and Sam Buckley, Senior Credit Consultant in Open Banking, to explore open banking’s maturity curve, reflecting on consumer adoption, use cases and lessons learned, and ongoing innovation.

In the UK, TransUnion was an early advocate of open banking, viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Recent product development to our end-to-end solution includes enhancements during COVID-19 as consumer affordability became a key issue and our partnership with Credit Ladder to include property rental payments in credit reports.

Further insights into open banking from TransUnion:
• The role of open banking in a polarised UK economy
• Consumer Credit 2022: Responding to Challenge and Change
• Lending in a Time of Crisis ebook