The Future of Money Meets Customer Conversations
What happens in Vegas is supposed to stay in Vegas.
There were over 11,000 people from more than 4,500 companies in attendance, and we had a booth right in the heart of all the foot traffic. The sheer volume of valuable contacts was an incredible opportunity to get our message across and network with the industry.
Now that we’ve recovered a bit from the conference, here are some of our biggest takeaways from Money20/20.
4 Educational Themes from Money20/20
Since we spent so much time networking at the kiosk on the conference floor, it was tough to find time to make it to any of the keynotes or breakout sessions.
But that doesn’t change the fact that education is the main objective for the executives and decision makers who attend Money20/20.
Whether they’re talking to a company like Layer or listening to a major speaker, attendees are at Money20/20 to get a grip on the future of money—how can they, as incumbent financial services firms, get out ahead of the next big shifts in the industry?
As people kept coming by the booth, we started to notice that 4 themes were coming up in conversation again and again:
- Payments Facilitation: How can financial services firms endure the transition from physical cash and cards to digital systems?
- Blockchain: Where does this new technology fit into incumbent financial services businesses? And will it really transform financial services security?
- Artificial Intelligence: How will AI change financial services? A keynote session with Steve Wozniak about empowering humans with tech was particularly popular.
- Customer Experience: What will help financial services firms deliver personalization at scale and meet customers where they are? This is where Layer and customer conversations fit into the future of money.
How Customer Conversations Resonated at Money20/20
There was a time when the financial services industry resisted the shift toward messaging as the universal communication experience. That no longer seems to be the case.
Maddy made a good point when we were going over our thoughts on the conference. She said it’s pretty clear that financial services decision makers have bought into the idea of messaging. They know things are changing and that they aren’t delivering experiences that fit consumer expectations. The problem is that they aren’t sure how to take the next step.
For some, the next step seems to be implementing some sort of chat interface with push notifications. And while the chat/notification experience is important, it won’t keep financial services firms ahead of the future of money.
Chat implies that customers will come to you with a question, you’ll provide an answer, and that interaction will be closed forever. The interface is important, but an innovative customer experience in financial services will focus on lifetime customer conversations that are consistent across all channels.
Whether you’re one of the biggest banking brands in the world or a smaller financial services firm, the challenge is the same—how do you go digital while maintaining the customer relationships that have made you successful for years?
Explaining how Layer can solve this challenge was the focal point of our conversations on the conference floor, at networking events in the evening, and just during social events around Vegas.
Layer Can Help Shape the Future of Money
At Layer, we know how to help financial services companies engage and communication with customers more effectively.
But if there’s one thing we need to make clear, it’s that the Layer Customer Conversation Platform isn’t just focused on chat or a messaging interface. It’s about creating conversations that can leverage artificial intelligence, that can integrate with legacy banking systems, and that can remove the siloes of sales and support to unify the financial services experience.
This is the message that we had to get across to everyone we spoke with at Money20/20.
Now that the conference is over, we’d love to discuss the future of money and customer conversations more. Reach out if you want to learn more about how we can help you deliver an experience that delights customers at every stage of the customer journey.
See you all next year!