Last week in Las Vegas the odds were favorable for emerging payments and other financial services, as anyone with a stake in the future of money was there attending the Money2020 Expo. This sold-out event – the first of its kind – attracted innovators in retailing and communications as well as financial services eager to learn and share about how innovative technologies improve customer service, and ultimately their bottom lines.

The Money2020 Expo differed from many of the other industry expos Cachet attended this year in that it cast a wide net to explore how niche innovations are collectively shaping a new reality of money and financial services. Celebrity financial advisor Suze Orman kicked off the event, with her insights into the financial affairs of American consumers. From there it was a deep dive into three days of connecting with and learning from like-minded innovators who are working to upend existing models for financial services.

Technology and consumer attitudes are radically changing payments

Technology and consumer attitudes are radically changing payments and other financial services. Customers aren’t just looking for places to stash and access their money; they’re demanding an entire suite of possibilities, from check cashing to mobile payments, from reloadable prepaid debit cards to digital wallets. And a veritable army of new companies has sprung forth in response to these evolving market demands.

There were several presentations on meeting the needs of America’s unbanked and underbanked populations. And if Expo Hall traffic is a true indicator, interest in solutions that address this growing sector of the population is growing rapidly.

The energy and excitement in Vegas was palpable, in fact. It seems as though everybody is charged about how evolving technologies can be used to engage customers with new and exciting ways to access and use money and financial services.

There was the spirit of camaraderie at Money2020 that was really refreshing: newcomers and legacy players sharing insights on the convergence of technologies and strategies for creating value from new market realities. And some of those discussions turned to risks.

Being able to identify and manage risks in critical applications like banking and payments can make or break an organization these days. And by partnering with other innovative companies we’ve been able to help clients better identify and mitigate risks in its myriad forms.

By bringing together all the various stakeholders – service and solutions providers, established companies and newbies, FIs and nonbank providers, customers and sometime competitors – Money2020 was able to create a dynamic community. It was the kind of dynamic that fosters original thinking, and it made Money2020 an engaging and valuable experience. One can’t help but wonder how many new ideas and partnerships were fostered last week in Las Vegas and the resulting innovations that will be the talk of next year’s Money2020 Expo.

Watch Money2020's promotional video to learn more about the event.