Money 20/20 in 5 Words or Fewer: Our Team’s Takeaways
We’re back from Money 20/20! After a few days of recuperation and relaxation, we’re back up to speed and processing everything we saw, heard and shared at the conference.
Our team’s conversations throughout the week covered everything from blackjack to bot attacks. That’s one of the greatest things about Money 20/20: every person who steps on the show floor can walk away with different conversations and takeaways. Here’s what our team members heard the most about during their week:
Allison Lemaster, SVP, Growth: “Data Is a Superpower”
High-quality, clean data is the backbone of secure growth. One big focus of our conversations (and Experian’s talk at the MoneyPot stage) was the role of data in creating digital experiences that meet the needs of both consumers and businesses. In fraud mitigation especially, it’s more important than ever to see the whole picture — fraudsters are growing increasingly sophisticated, so having high-quality insights into users’ actions and large-scale trends is critical.
Mitul Parmar, SVP, Product & Strategy: “Modern Problems Need Modern Solutions”
Like every other conference we’ve been to in the past two years, GenAI was a key talking point of nearly every conversation. Many businesses have conceded that there still isn’t a “silver bullet” on the market for keeping it in check. Stopping GenAI fraud requires a multi-faceted strategy built around innovative tools.
Devon Smith, Director, Solutions Engineering: “Innovation Breeds Innovation”
I agree with Mitul – GenAI and other evolving fraud tools have forced fraud professionals to reevaluate their solutions and strategies. But I’m looking at it in a more positive light: that very issue has sparked a renaissance of sorts, with more and more advanced tools hitting the market to stop sophisticated fraud. This year, I was introduced to countless new vendors offering state-of-the-art solutions for stopping deepfakes, falsified documents and more. We’ve been at the forefront of the fight against advanced fraudsters, and it makes me happy to see more joining in to protect businesses from evolving threats.
Mallory Ames, Sales Director: “Have a Plan”
With all this talk about adding new solutions to stop modern fraud threats, it feels like businesses have adopted a “the more the merrier” mindset. I don’t think this is the right approach; frankly, overloading your fraud stack with data can do more harm than good, and the cost of maintaining unnecessary vendors can eat into profits. Is it important to upgrade your stack with new tools? Absolutely. But when evaluating and implementing a new solution, it’s crucial to have a clear vision of its role in your stack and how it’ll work with your other tools.
Thanks to everyone who stopped by to chat at Money 20/20! If we didn’t get a chance to talk at the show, reach out and set up a meeting!