Fintech Insider Podcast by 11:FS
00:27:06 · Kate Moody
[00:27:06] S0: Yeah. I mean, we had a a story on the news show last week about, you know, indemnification of agentic payments. Obviously, we're kind of touching on a similar space here. It kind of feels like the recurring big problem, well, maybe it's not a problem there but it certainly sounds like Mastercard are making a first effort here at trying to solve that with their sort of verifiable intent technology trying to really record, you know, what has actually been authorised. And Clive, from where you're sitting, did you agree that this is like the key problem to be solved?
00:27:36 · Clive Summerfield
[00:27:36] S3: It comes back to exactly that's the same problem as before. How do you bind the, the real life person, this biological entity to a, what is essentially a digital entity that you've authorized to go off and perform these transactions? How do you bind those two together? And, you know, I have a line here that, you know, there's only really one one technology that binds biological and digital identities, and that is biometrics. And there really is only two biometrics that make any sense in a, online world, and that is voice and face. And, you know, we're we're, you know, talking to each other here on the online and verifying identities to each other using voice and face. So that is really the challenge here is how do you do you strengthen that layer, that authentication and identity verification layer, confirming... It's back to the same line as before. How do you confirm that this is a real authorized person to actually authorize this agent to go off and do whatever they're going to do? And is this person real, and not a synthetic or an injected, individual into the, into the process? And that's where it goes to.
00:28:56 · James A. Brown
[00:28:56] S5: Yeah, I mean, I suppose all I would add, I mean, I remember doing a TV interview actually in New Zealand, and it was all about digital identity. It was at the time when sort of COVID was hitting and how are we gonna allow people to sort of move around and should there be a sort of a digital identity, sort of like product platform device, etcetera. But when I was actually given the interview, I turned down to the presenter and I said, How do you know I'm actually real? And he nearly fell off his chair in the studio. And he's like, Oh, I hadn't, oh, actually, I hadn't, know, I actually quite frightened him, if I'm honest. But I think back to Clive's point, I mean, it's like as the technology becomes more sophisticated, we've, you know, my friends are doing it at the moment where they're sending pictures of each other but they all of a sudden have put on six kilos of muscle And it's like, woah, clearly someone's been to the gym. So we have to sort of balance out that as the good actors obviously adopt this technology, by that, going back to the sort of the bad actors are also trying to accelerate how they break things. And I've worked with digital identity providers, I'm sure we all have, and the challenge is that, you know, when we started wearing masks, you know, it became a bit of an issue for some providers. So it's nice to see and I think your point is very valid about how open as like Mastercard are actually being about where they are at the moment but what their aspirations are for the future.
00:30:31 · Kate Moody, S6, S1
[00:30:31] S0: Yeah, absolutely. Well, we have AI stories pretty much every week on this show because it is just like the big thing. So I'm sure we'll be coming back to this topic again and again, and the news will keep changing, the technology will keep changing. So watch this space. On that note, we're just gonna be taking a very quick pause here. We'll be back shortly. Ad[00:30:50] S6: Launching innovative payment products is only the beginning. Real progress comes from what happens next. Paymentology fuels continuous compounding momentum as a cloud native issuer processor, helping banks and fintechs grow beyond go live with global reach, local know how, and the power of its Loom platform. Powered by more than 500 paymentologists across 68 countries, they make card programs work naturally across markets. Want to keep the momentum going? Head to paymentology.com. Ad[00:31:23] S1: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini in Chrome, that's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks. Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, availability varies 18 plus.
00:31:23 · S1, Kate Moody
Ad[00:31:23] S1: This episode is brought to you by Google Chrome. You think you know a browser, but Gemini in Chrome, that's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50 page restoration block or finally break down that long article you've had open for weeks. Gemini and Chrome is here for it. Ready to make anything online make sense? There's no place like Chrome. Check responses, setup required, compatibility, availability varies 18 plus. Ad[00:31:51] S0: Before we get back to the news, I want to take a moment to talk about another exciting event coming up in the fintech calendar, Fintech Connect. Wincie, I know you're involved with the event. So could you tell us a little bit about what's gonna be happening this year and what attendees can look forward to?
00:31:51 · Kate Moody, Wincie Wong
Ad[00:31:51] S0: Before we get back to the news, I want to take a moment to talk about another exciting event coming up in the fintech calendar, Fintech Connect. Wincie, I know you're involved with the event. So could you tell us a little bit about what's gonna be happening this year and what attendees can look forward to? Ad[00:32:06] S4: Yes. I love Fintech Connect. I am on the advisory board for digital transformation. There are seven different stages. Digital transformation is one of them. One of the things that is different, I think, about Fintech Connect, which I love, is that it was developed with 40 real practitioners. So people who are working in banks, financial institutions in fintech, working together to develop the agenda, the talks, the panels, and all of that. This... There has been over 9,000 registrations so far. It's set to be probably one of the biggest fintech events in London or in The UK this coming year. So I think it'd be a great place to kind of get into financial innovation, fintech, all the new things that are happening. What I was really keen on in developing that agenda was that we don't just have the practitioners, as important as they are, but also we have regulators, technologists, or people who can see what's coming or what's coming in the future and see how that will affect the day to day operations of, working in financial services in the future. So very, very exciting. I will be there both days. Please come find me, talk to me. I am there to go meet people, see what everyone is doing. I'm, extremely excited. So so please do reach out to me.