Money 2020 Europe

Written by Nick White

Highlights from day one of Money 20/20 Europe

Money 20/20 Europe: Day one

TruNarrative’s very own Matt Elsom is currently on the ground in Copenhagen at the annual Money 20/20 Europe event for the FinTech industry, which sees over 3,500 attendees, including 500 CEOs from 1,500 companies and 70 countries.

Matt has reported back to TruNarrative HQ on some of the highlights from the speakers on day one of the three-day event, and machine learning has been a key focus point.

Professor Nick Ryman-Tubb, CEO Institute of Financial Innovation in Transaction & Security (FITS) addressed the packed audience around his views on machine learning. He commented that fraudsters themselves are already using machine learning in conjunction with non-compliant data and stolen data.

The professor also noted that he and his team have been able to build a machine learning algorithm using neural networks that can predict so-called random number generators. This shows how our industry needs to evolve even faster to keep one step ahead of the fraudsters.

In another talk, Pedro Fonseca, CEO of CrowdProcess spoke to the audience about the need to make machine learning models non-discriminatory, and to have the ability to explain your decisions to either clients and regulators.

This fits with our vision at TruNarrative, where a white box approach, with human interaction, is in control of machine learning recommendations.

Matt is attending many more talks over the next two days at Money 20/20, so look out for tomorrow’s blog for more highlights.

If you would like to get in touch with Matt while he is in Copenhagen, feel free to get in touch; he will be more than happy to have a chat.