It’s just over a month since Money20/20 and to celebrate the energy it’s still giving us, we’ve created a short recap with five awe-inspiring quotes from Charlotte Hogg (CEO of Visa Europe) during her speech on stage alongside our CEO, Daniel Kjellén. Get comfortable and read some wise words from one of Europe’s most prominent voices in the financial sector.
We boil down five of the best quotes from Charlotte Hogg’s talk at Money 20/20
Financial understanding is more important than ever in the current cost of living crisis
Visa and Tink’s vision aligns perfectly to deliver better banking to consumers.
When asked about whether she thinks Visa ‘overpaid’ for Tink, given what’s happening in the Tech landscape now in 2022, Charlotte was quick to point out that it’s never a bad time to buy the best asset. As open banking is evolving and taking over Europe and playing a much more prominent role in customers’ lives across industries, it seems a sure thing Visa will help play a role in the move towards open finance.
In response to a question about the current uncertainty around the tech landscape in 2022, Charlotte was quick to point out that in uncertain times, there's an even more burning need for customers to have more control and security around their finances. Many of Tink’s products are tailored toward giving a better understanding of a customer’s financial situation, such as Risk Insights, which is helping lenders feel more confident about their lending decisions, while also protecting vulnerable customers. These kinds of products align perfectly with the FCA’s mandate during the current cost of living crisis.
Another great example of Tink and Visa being aligned on the same mission. Both companies are focused on a B2B2C approach. Setting up businesses with the right tools to empower their customers. From the recently announced partnership with Revolut, to improving the way 4 million customers pay bills with Kivra, there are countless examples of partnerships where businesses utilise the power of the Tink platform for the benefit of their customers.
With a $9 billion investment in the last five years, Charlotte went on to highlight just how important security is for Visa, Tink, and of course end-users. It’s not enough to be reactionary to things like geopolitics in her eyes. You must have an always-on approach to cyber security. Banks and consumers alike are becoming more and more aware of the threat of cyber-security. With the average data breach costing around $5.85 Million in 2020 according to IBM, the financial burden is real, but there are also some perhaps even more damaging side effects. Lack of trust and damage to reputation can be even more harmful, as customers can potentially turn elsewhere in droves. The threat of cyber-attacks is everpresent, which is why it’s reassuring to know that Visa and Tink are steadfast in their always-on approach.
As a roundup to the chat, Charlotte was asked 'what’s the biggest trend you’re currently focused on?'. Without missing a beat, she broke down all of the complexities involved in open banking into a short one-sentence answer, reminding us of the end goal for the consumer. And this goal is shared by Tink as a guiding light. Whether it’s Transactions, Money Manager or Income Check, they all share one thing in common – Making banking better. View the full suite of Tink products, and see which one can help your customers today.
Feeling inspired by how open banking payments could help you and your business? Get in touch.
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