Unlocking the Power of Data: the Future of Smarter Payments was a landmark event hosted by Payments UK and techUK which took place on 22 March 2017 in central London. The event explored the opportunities, challenges and risks associated with harnessing the potential of data within the payments industry.
The emerging landscape will enable enhanced data-driven business decisions to increase efficiencies and drive innovation. As the payments and technology industry builds a closer relationship with customers by offering personalised, customised services; we must also understand the role of ethics within the use of customers' data.
- Assessed the way in which data should be understood and defined, unlocking its full potential within the payments ecosystem.
- Discussed the role of technology in using data to make informed decisions to deliver competitive opportunities, increase efficiencies and drive innovation.
- Debated the importance of bringing customers on the data journey, exposing possible data privacy and security concerns, and explored how best to communicate the user benefits.
- Explored the potential collaborative space to assist in meeting regulatory and legislative requirements.