Chris Jones is the Managing Director of PSE Consulting, a firm that specialises in helping fintech companies navigate complex buying procedures and payment flows. With over 20 years of experience in the industry, Chris has worked with major players in the merchant and payment supplier communities, including eBay, Google, and Mastercard.

Key Takeaways:

• The banking industry can only make money through risk, particularly in the provision of credit.
• Fintech companies face funding challenges and changes in the market due to new technologies and big sponsors.
• Customer inertia plays a role in the adoption of fintech products, but younger generations may be more open to alternative banking options.
• Traditional banks need to adapt to the threat posed by fintech startups and the changing preferences of customers.
• Friction can have value in financial services, providing security and confidence for customers.
• Fintech startups should focus on listening to customers and building their requirements into products.