Digital marketing for financial services conference


(Sarah) #1

Hi all, is anyone going to the Digital marketing for financial services conference tomorrow?
https://www.digitalfinanceconference.com

It’s my first time going, and I’ve volunteered to facilitate the discussion on apps! Eek.

Edit: to clarify, I’m not just really into banking - I’m a UX designer at a global financial services provider!


(Andre Borie) #2

The website is sooo legacy I can almost smell the rust. :joy:

The speakers aren’t much better - do I really care about hearing useless people trying to defend their outdated business model?

Seems like the conference is just gonna be an echo chamber for all things legacy; so no thanks.


(Andre Borie) #3

I’m a UX designer at a global financial services provider!

Maybe you should offer your services to improve this abomination of a website? :wink:


(Sarah) #4

You’re so right about the website - it’s pretty painful to look at. Maybe I should offer some consultant services :wink:

I’m interested to see what it’s like, although I’m cautiously hopeful that it will be useful. I’ll have to let you know how I get on!


(Andre Borie) #5

I’m interested to see what it’s like, although I’m cautiously hopeful that it will be useful. I’ll have to let you know how I get on!

Did you pay the entry fee or got it paid for by your company? The lowest tier is 599£ which is extremely steep; I’m really not keen on conferences charging for entry (and especially not that much), I very much prefer if the sponsors pay for it which makes it accessible for everyone, as it’s commonly done in the (fin?)tech world.

Personally I don’t see any non-legacy speaker in there, so there will be no interesting debates, to me it looks like it will just be an echo chamber for all those useless people to feel better about their outdated businesses; no actual value will be gained from this. :confused:

In any case I wish you good luck in this legacy adventure - please check back here and confirm you’re alive after it’s over, as that much legacy stuff could be dangerous for your health. :joy:


#6

Do you have a daily quota on “legacy”? :wink:


(Andre Borie) #7

No as you can see! Unlimited amounts of legacy :wink:


(Adrian Hardy) #8

Perhaps they were looking for speakers who have been able to make a profit out of their services? :man_shrugging:


#9

Scandalous!


(Andre Borie) #10

But this is what I’m saying, there is IMO no value for any of us in a conference that just serves its own (outdated) industry. This conference would’ve been good if there were speakers from both sides (both legacy and fintech) but currently it’s more about reinforcing their own ego than making any kind of progress or constructive talk.


(Jamie 🏳️‍🌈) #11

I know flap all about anything that’s going to be discussed at this conference, but…

That website though.

It promotes an event which promises to “reveal the latest in digital and social media trends” and looks like it was built on Geocities in about 1996.


(Adrian Hardy) #12

It’s the premise that their business model is outdated that I disagree with really - their business models are the only ones currently proven to work, so can’t possibly be outdated.

Writing the speakers of a conference off because the company they work for existed more than 5 years ago seems a bit odd to me. The legacy vs. fintech split in the industry you allude to doesn’t actually exist, they are all just financial firms.


(Andre Borie) #13

Writing the speakers of a conference off because the company they work for existed more than 5 years ago

I’m not exactly writing them off because of that (though it helps), it’s more about that all those companies are using the legacy banking business model. I would’ve loved to see some people from challenger fintech firms in there as well.

The legacy vs. fintech split in the industry you allude to doesn’t actually exist, they are all just financial firms.

Disagree; they might be financial firms but they definitely have different ways of doing their business; one is by scamming customers (legacy), the other one is by minimising overheads and making money on stuff that helps customers (commissions from the marketplace, etc).


(Adrian Hardy) #14

There’s no legacy banking business model, it is the banking business model. Burning through VC cash isn’t a business model.

I guess the other way to split that is makes money (legacy), doesn’t make money (though hopes to tack on a comparison website to the app which might make money in the future).


(Jamie 🏳️‍🌈) #15

Who’s making money? Revolut possibly, in the near–future, if you believe their predictions. Certainly not Monzo and Starling. Their models have yet to be proven. Aren’t you jumping the gun somewhat?


(Marcel Ruhf) #16

Starling"s CEO says that Starling Bank will break even in 2019. Note, however, that Monzo"s business model is very different from Starling’s, as the latter opted to make its services available to businesses, government agencies and other fintechs. This offers them more potential revenue streams.


#17

Their recent featuring on the iOS download page has boosted their new account opening.


(Jamie 🏳️‍🌈) #18

Has it? Got any figures?


#19

Yes, a percentage, but I am not able to disclose it.


(Jamie 🏳️‍🌈) #20

Convenient.

I guess a percentage of not much is still not much.