On October 28th, Phase 5 Partners Steve Hansen and Michael Dolenko were invited to be the featured speakers at a NYPAY member exclusive event. NYPAY is "New York's leading forum for innovators and leaders in payments & mobile commerce", and hosts industry events that connect people across the industry, from issuers to merchants, FinTech start-ups to large corporations. The October event presentation, entitled
COVID-19 & the Changing Financial Consumer: Impacts and Implications for FIs
is now available to view and/or download from our site.
In addition to sharing the key findings of Phase 5's July 2020 study, the event included further discussion of the "so what" aspect of those findings, and the implications they have on decisions Financial Services companies are making today. Follow up questions included:
- What specific opportunities may exist for FinTech companies as a result of the pandemic?
- How might bigger FIs work with FinTech companies to serve emerging consumer needs?
- As spending declines in travel and entertainment categories, how might Payments companies strategically redirect resources and/or services to make up for this behavior shift?
If you missed the event itself, check out the video now to hear our experts share their perspective on the results and how businesses can apply them now.