More than a buzzword! What’s Fintech all about?
Our second lab for the 2019 Live Innovation Lab (LILab) Flagship event series in Munich was all about Fintech, led by our guest speaker Hazar Al Asadi.
The Lab was a space for exchange, networking and collaboration, which covered three areas out of the seven areas of innovation which LILab focuses on: Business Chemistry, Science and Tech Lab & Women in Innovation.
The event took place at Friends Factory Munich where we had the chance to hear Hazar Al Asadi talk about the innovations happening in Design, UX, Product & Strategy within the Fintech world. The talk guided us into understanding how online payments work, the development and innovations of payment APIs hence payment gateways, the complexity of the payment setups and how this all affects payment pages.
We explored the current challenges in online payments APIs:
- Bad check out experiences have a big impact on the conversion rates.
- The cost of payment integration is very high.
- There is a need for new business models that solve this technical challenges.
- The next generation of API needs to be an umbrella, which can unify all the different APIs. This will ease the connection to any provider and any payment method.
There is an immediate need for disruptive innovations to happen in the online payments APIs! Will you be the one solving it?
If you want to get an overview of the presentation, here is the link to the slide deck.
During the Lab we got to enjoy some popcorn and also discovered the analogy between popcorn and APIs. Can you guess what it is? Here is hint: it has to do with the new generation payments that will allow an easier integration of all the APIs!
In addition, our Innovation Champions had the opportunity to work on a hands-on activity to gather insights that can be applied to any project. We also unveiled a new Innovation Model… Stay tuned for more details about it!
Get to know Hazar!
Hazar Al Asadi is on a mission to showcase the potential that Fintech has to disrupt in the online payment systems. She has enabled enterprise merchants across different industries, to offer next-gen payment systems. Hazar has more than 5 years experience leading a team of project managers in the Fintech industry. Focusing on requirements engineering and solutions delivery, she is technically knowledgeable of the challenges and the constraints of many different payment solutions on the market. She is the Head of Project Management at optile GmbH; an agnostic payment gateway; a project management enthusiast and a happy wife. Connect with her on LinkedIn.
Get to know our host for the night!
Special thanks to our host Friends Factory, a co-working space which combines a professional atmosphere with an innovative concept of networking areas in order to connect people. Their goal is all about the exchange of ideas!
If you are looking for a upbeat and welcoming coworking space in Munich, Friends Factory is the place to be.