Money 20/20 in Amsterdam
This year, Amsterdam plays host once again to the internationally renowned industry event Money 20/20, where the global fintech and finance community join to ignite conversations, trigger inspiring ideas and collaborate on how to move the industry forward. With over 5,000 attendees and 300 speakers, the event is one of the most prominent dates in the fintech calendar. So far, leading names including HSBC, JP Morgan, ING and Morgan Stanley have confirmed they’re on the roster.
A hub for tech and finance innovations
Money 20/20 has returned to Amsterdam a number of times. With the Netherlands ranked as the second-largest fintech nation in the EU and the Dutch capital itself globally recognised for its thriving financial and tech ecosystems, Amsterdam makes for a productive setting for such an event. Not only has the city produced many successful fintech innovators, but the community’s forward-thinking and future-focused approach is inspiring key transformations of traditional practices.
Read on to discover the latest from Amsterdam’s fintech sector, and learn why it has attracted talent and businesses from all over the world.
Startups turned unicorns
Amsterdam is the original stomping ground for a variety of startups-turned-unicorns, including internationally recognised banking and payment companies Adyen, Mollie and bunq. Their growth trajectories have shown that Amsterdam is a place where ideas can turn into global success. Alongside Adyen, Mollie and bunq are other pioneers that have attracted international attention and millions in funding over recent years. Investment app BUX’s success, for example, has enabled them to expand to several European locations, including France, Germany and Austria. And fintech software company Ophen has achieved a similar milestone, branching out to three countries within Europe. Another success story includes Factris, which is aiming to empower SMEs through financial technology.
Support for startups
The successes of those that have gone before them have inspired scores of startups in the fintech sector. As a tech-savvy country, new businesses in the Dutch capital are encouraged to invent and experiment with new ideas. Startups are exploring technologies such as blockchain and artificial intelligence as solutions to a range of modern challenges. They’re supported not only by a strong financial sector, but a thriving network of startups from a variety of industries. Take Amsterdam-based fintech startup, Payaut, which has recently raised €8 million in funding to expand its automated payment platform to more destinations. Or Flow Your Money, a young fintech company that gained €3.5 million in seed funding to further develop its financial budgeting app.
With ambitious goals to tackle climate change and other challenges, Amsterdam and its innovators are future-focused in more than one way. It’s a mentality that is shared from the top down – from government agencies to municipalities and local businesses. In a world-first, the City of Amsterdam, for example, has adopted the doughnut model to approach its post-pandemic recovery. This economic model is based on the idea that economic growth should not overstretch social and environmental boundaries. The City has also pledged to become emission-free by 2030 and fully circular by 2050 – goals that influence and instruct how business is conducted in the Amsterdam Area.
Amsterdam has also been ranked as a global leader in green finance. Placing second in the Global Green Finance Index, the Dutch capital has been classified as a hub for financial solutions that don’t cost the earth. The index also explored to what extent global financial centres are supporting the UN’s Sustainable Development Goals (SDGs).
Amsterdam has been associated with financial innovation for centuries. Home to the world’s first central bank and stock exchange, it maintains its reputation to his day. Holding the offices of over 50 international banks, alongside countless tech companies and other financial organisations, Amsterdam is fertile ground for fintech players and industry events.