This year’s edition of FINNOSUMMIT, the most important Fintech event in latin America, took place on September the 12th and 13th at the Centro Cultural Roberto Cantoral in Mexico City. Over 1500 investors, entrepreneurs, financial institutions representatives, consultants and high impact executives from 15 different countries attended the conference.
At this interesting Keynote, Nektarios Liolios(Co-founder, Rainmaking Colab and Startupbootcamp FinTech) addresses, in a very realistic way, what does it take for a financial institution to innovate, as well as some of the major frustrations of the cooperation between banks and Fintech startups.
Among others, Nektarios describes the problems that banks have with legacy systems, that are the ones making the industry complex, according to the speaker, given that “banks have built them up over the years and they really don’t know how to manage them”. On the other hand, he also advises startups to “find solutions that are relevant for business and that generate revenue without losing sight of long term”