Intersect 2019. Experience and Prospects of the Global Banking Industry

Bank branches will not disappear shortly despite global digitalization and credit institutions’ desire to cut costs. Banks realize that they risk losing consumer confidence without physical departments. This opinion was expressed by Gerrard Schmid, the president of Diebold Nixdorf, at the opening ceremony of the three-day Intersect 2019 conference in Las Vegas, which was also attended by representatives of Penkių kontinentų bankinės technologijos (BS/2), a part of the Penki Kontinentai Group.

“The unique conference held by our partner Diebold Nixdorf allowed us to compare the development of financial technologies in Europe and America. The name of the event, Intersect 2019, reflects the main idea of the organizers, who invited experts from all over the world to study the synergies of digital and traditional banking, trading and credit organizations, both in terms of technology and clients,” said BS/2 Strategic Partnership Manager Kornelijus Šišla.

According to him, the heads of banks, together with specialists of payment solutions, analyzed the global financial situation. Cash dominance remains the main current topic. According to 2018 statistics, the total amount of cash grew by 0.7%, and the most significant growth was recorded in Europe (by 3.2%) and America (by 2.9%). The increased number of withdrawals from ATMs also indicates cash is growing in popularity. Nobody argues about the convenience and transparency of cashless payments, but electronic payments cannot crowd out cash from circulation.

Another relevant topic for discussion was the interaction of mobile and traditional banks. Modern solutions in the field of electronic payments and online lending serve to increase customer loyalty. Partnership with neobanks would help improve traditional banks’ position in the competitive environment and create the image of a progressive organization. Startups can become a testing ground for innovative solutions that will be used in the future by banks managing large resources and having access to a large audience.

“Comparing the markets, we’ve noticed that some banking technologies familiar to Europe are appearing in the US just now. For example, in America, there are very few ATM recyclers that are so popular in Europe,” said Kornelijus Šišla.

In the exhibition hall, all conference participants could appreciate the benefits of Diebold Nixdorf’s innovative development – the DN Series ™ line, which will be available for order in 2020. A more detailed overview of the new ATMs can be found on our website.

The authoritative event under the Diebold Nixdorf patronage brought together financial professionals, equipment suppliers, software developers, bank executives from all over the world to exchange best practices and strategies for the further development of banking technologies.