Deloitte FinTech Conference 2020

Key takeaways from FinTech Conference 2020:

🔑 The term “sensitive payment data” in PSD2 has considerably different meaning than in the context of GDPR and data protection law, be very aware of what is being checked;

🔑 Read the guidelines to address the key challenges. If you are not able to address one of the challenges, you will fail in the others;

🔑 Safeguard the funds by depositing these in a separate account in a credit institution, invest in a secure, liquid low-risk assets or cover these funds by an insurance policy or a guarantee;

🔑 Analyze your supplies – are they with VAT or VAT exempt;

🔑 Payment services need to be quick, convenient and affordable, although fintechs are addressing these needs they are still systemically dependent on banks;

🔑 Use outsourcing to improve operations, minimize risk, be more agile and reduce costs;

🔑 Don’t try to reinvent the wheel, let someone who is already experienced help you.

Don't worry if you missed the conference or wasn't able to participate - all records from the conference is now available here:

Rūta Merkevičiūte, Head of Division E-money and payment institutions supervision, Bank of Lithuania – ‘‘Supervisory reporting of EMI/PI to Bank of Lithuania: challenges and best practices’’

Raimondas Andrijauskas, Director, State Data Protection Inspectorate – ‘‘Interplay between PSD2 and GDPR’’

Norberts Millers, Product owner, DECTA – ‘‘Case – study on FinTech strategy’’

Lina Lapyte, Tax manager, Deloitte Lietuva UAB – ‘‘Key VAT considerations for FinTech companies’’

Janelle Korm, Senior Operations Specialist, TransferWise - ‘‘The end of banks’ monopoly over payments. Building international infrastructure through Direct Access’’

Erika Vaškytė, IT Auditor, Deloitte Lietuva UAB – ‘‘Information Security and IT Controls in FinTech Environment’’

Dmitrios Goranitis, Central Europe Risk Advisory leader, Deloitte Romania – ‘‘Managed services as a critical success factor of a digital strategy’’