Fintech firms must turn data into sustainable profit amidst shrinking industry margins. Experts from Torus, payabl., and Raiffeisen Bank International highlight this critical shift.
Data Intelligence Drives Profitability
Kirill Lisitsyn of Torus emphasized that firms need to be both competitive and profitable. He stated identifying correct customer segments and extracting value-added insights from data delivers meaningful solutions.
Breno Oliveira from payabl. critiqued reliance on static dashboards. He advocated for real-time decision-making to proactively identify trends like transaction chargebacks before they escalate.
Oliveira added that the primary challenge is establishing an organizational structure and implementing technology to adapt swiftly. He stressed strong top management support is vital for innovation.
Leveraging Trust & Tech in Banking
Mariia Komissarova of Raiffeisen Bank International discussed traditional banks competing with digital-native startups. She noted that while newer companies have inherent real-time infrastructure, legacy institutions possess deep client trust.
For banks like Raiffeisen, the strategy involves capitalizing on this trust. Simultaneously, they must make substantial investments in underlying data infrastructure, moving beyond “big data” to sophisticated intelligence layers.
Komissarova concluded that success hinges on identifying historical strengths, wise technology investment, and cultivating top-down support for continuous evolution.