Finsurtech Fantasy 2024

Finsurtech Fantasy 2024

At Finsurtech Fantasy 2024, we did not only sponsor, but were also represented with various speakers on current financial and insurance topics. The event, which was part of the Nuremberg Digital Festival, was a great success for us.

Once again this year, industry players from the entire metropolitan region came together to discuss the latest trends and best practices. Sopra Financial Technology was once again able to distinguish itself with excellent speakers in a total of three tracks.

Finsurtech Fantasy 2024: “Untangling the regulatory forest”

Regulation is a complex aspect of IT services in the financial world. With our employee Carsten Fritz hosting the panel “Untangling the regulatory forest: Navigating through the complexity of regulation”, experts Andreas Seibert (Sopra Financial Technology), Dietmar von Blücher (UmweltBank AG), Jannis Gansen (CodeCamp:N) and Thomas Reimer (NÜRNBERGER) were able to shed some light on the subject.

Challenges and solutions for numerous fundamentally important issues such as BAIT, KRITIS and DORA were discussed and successfully deciphered as part of the panel at the Finsurtech Fantasy 2024. The conclusion was: “Regulation is like a knight's armor - heavy at first, but ultimately protective.”

Finsurtech Fantasy 2024: Data- and tech-guideposts for better customer dialog

The second panel discussion we covered at Finsurtech Fantasy 2024 was all about data and technology. Together with Dr. Irena Metze from “TeamBank AG” and Michael Runbinger from “msg”, Sopra Financial Technology employee Thomas Fischer assessed, why insurance companies and banks should optimize their customer interfaces with the help of data innovations.

Under the title “Data-written customer interfaces in the banking & insurance environment”, it has turned out, that the linking of different data sources is relevant; the newer platforms frequently used by the younger generation, such as “TikTok” and “Instagram”, play a kind of pioneering role. Banks, insurance companies and IT service providers must also face up to this change and the demand for a 100% digital solution - “innovate or stagnate”. Partnerships and collaborations with start-ups are recommended.

Finsurtech Fantasy 2024: AI for regulatory compliance: A friend and helper?

It is not in vain that regulation has been anchored in our DNA for over 40 years and is a topic close to our hearts, which is why Carsten Fritz provided an overview of regulatory compliance in relation to working with AI. Despite increased cyber security (according to the Sopra Steria Cyber Security Report, 93% expect an increase in damage scenarios through the use of AI), this is not just a risk.

Rather, AI has a supportive effect - as long as the regulatory requirements are met. In summary, the presentation “Challenges and opportunities of AI for regulatory compliance” showed that AI creates many challenges, but at least as many opportunities.

Without AI, many believe they have no chance against cyber attacks

BFor example there is pattern recognition in heterogeneous data sets, or the linking of different sources and circular data sets, as well as the simplified maintenance of new reports and the reduction of rectifying. It is no coincidence that 54% of the companies believe that organizations without AI will have no chance against cyber attacks in the future.

In addition to the topic tracks, in which we were able to participate, there was also other exciting content. Networking was also an important part of the evening, which resulted in interesting conversations with many participants.

We are already looking forward to participating in the next Finsurtech Fantasy in 2025!