PayU GPO at Impact CEE – Leading the Future of Fintech

Impact’24, held annually in Poznan, Poland, is a premier conference that brings together industry leaders, entrepreneurs, and innovators to explore the latest trends in technology, business, and society. This year’s event featured influential speakers like Michelle Obama and Sanna Marin, fostering discussions on transformative ideas and innovations shaping the future of various sectors.

PayU GPO’s involvement at Impact’24 went far beyond mere attendance, highlighting our proactive approach to shaping the fintech landscape. Our team was deeply engaged in a variety of high-profile activities that underscored our leadership and collaborative spirit in the industry. Our agenda was filled with impactful events, reflecting our dedication to co-creating the future of fintech:

• Stage Presence: Daniel Cohen, PayU GPO CEO, and Marek Dworzanski, Head of Financial Settlements EMEA, took the stage on the first day, setting the tone for a dynamic and insightful conference.
• AI Round Table: Krzysztof Gawronek joined a round table discussion on the latest developments in AI, sharing valuable insights.
• Productivity Workshop: Katarzyna Prus-Malinowska participated in a session focused on productivity and performance, contributing to the broader business dialogue.

Read the full article for summaries of these insightful discussions and activities.

At Impact CEE, PayU GPO CEO Daniel Cohen participated in a dynamic panel discussion focusing on the strategic adoption of Artificial Intelligence (AI) and its profound impact on customer experience.

Here a brief summary of the panel discussion:

• Strategic AI Adoption: Daniel emphasized the significance of adopting AI strategically, highlighting a generational divide in AI usage. Younger generations are more adept and comfortable with AI technologies like ChatGPT, whereas older executives often lag behind in adoption.
• Challenges in Scaling AI: Daniel pointed out the paradox in AI adoption where initial implementation can be easy, but scaling within an organization presents challenges, primarily due to data quality and management issues.
• AI Initiatives at PayU GPO: PayU GPO has long embraced AI, focusing on machine learning and data analytics to drive efficiency and customer service. Current initiatives include deploying smarter bots to handle routine tasks, freeing human representatives for more complex interactions.
• Customer Experience: Daniel discussed how AI transforms customer service by improving response times and service quality, making it a crucial tool for enhancing the overall customer experience.
• Generational Differences: Overcoming the fear of AI replacing jobs and educating employees about AI’s benefits is essential for smoother adoption and broader acceptance across different age groups.
• Sector-Specific Adoption: AI’s adoption varies across sectors, with regulatory differences playing a significant role. Some industries integrate AI more readily than others due to varying levels of technological readiness.
• Future of AI: Daniel and other panelists agreed that AI is here to stay, driving digital transformation across industries. They recommended starting with small projects, ensuring data quality, and scaling gradually for successful AI integration.

Watch the full discussion here:

In a fireside chat with Bianca Lopes, Daniel delved into PayU GPO’s ambitious mission of creating a world without financial borders where everyone can prosper.

Key points included:

• Simplifying Payment Processes: Daniel highlighted PayU GPO’s efforts to simplify payment systems for merchants in high-growth regions like Latin America, Africa, and Eastern Europe. By tackling regulatory and infrastructural challenges, PayU GPO allows merchants to focus on their core business activities.
• Leveraging Technology: PayU GPO leverages cutting-edge technology to facilitate secure and efficient financial transactions. The company adapts its operations to local challenges, such as regulatory variations and connectivity issues, ensuring smooth financial services across different regions.
• Partnerships with Big Tech and Banks: Strategic partnerships with big tech companies like Amazon and Google are crucial for PayU GPO’s operations, providing the necessary digital infrastructure. Banks also play a vital role in the financial ecosystem, offering trust and stability while collaborating with fintech companies to innovate and enhance services.
• Challenges in Emerging Markets: Developing nations face unique challenges, such as inconsistent electricity supply, which PayU GPO addresses with innovative solutions. The rapid pace of change in these markets necessitates constant adaptation and innovation.
• Financial Inclusion and Literacy: PayU GPO is dedicated to improving financial literacy and inclusion, particularly among unbanked populations. By providing accessible financial services, PayU GPO aims to enhance economic opportunities and the quality of life in underserved regions.
• Personal Motivation: Daniel’s background in fraud prevention and cybersecurity drives his commitment to making a positive impact through his work at PayU GPO. He is deeply invested in ensuring safe and reliable financial services for all.
• Future Vision: PayU GPO’s vision is to break down financial barriers and create a digital world that is fair and accessible to everyone. The company’s ongoing efforts aim to democratize financial services and bring the benefits of digitalization to a broader audience.

Watch the full fireside chat here:

Marek Dworzanski, our Head of Financial Settlements EMEA participated in the panel discussion “Go Local or Go Global” and provided valuable insights into fintech growth strategies.

Here are some of the key points:

• Strategic Vision: Local Expertise with Global Reach: Marek emphasized the importance of combining local expertise with a global vision. Startups should evaluate their products’ market fit, considering whether they cater to a universal audience or require localization to meet specific market needs.
• Market Potential in Emerging Regions: Marek highlighted the significant opportunities in Latin America and Africa, regions with large underbanked populations and young demographics. The median age in these regions is low, indicating a tech-savvy, younger generation that is quick to adopt new financial technologies.
• Technological Trends and Infrastructure: Marek discussed the critical role of improving payment rails and real-time settlements to enhance efficiency in cross-border payments. He also mentioned the need for better open banking frameworks, as the current regulations have not fully realized their potential.
• Embedded Services and Crypto: The growth of buy-now-pay-later (BNPL) services and insurance tech is notable, with embedded financial services offered by non-financial companies gaining traction. While blockchain technology holds promise for enhancing payment networks, its exact development path remains uncertain.
• Regulatory Challenges and Resource Allocation: Startups must navigate different regulatory landscapes, which can either enable or hinder business expansion. Realistically assessing resources is crucial to determine whether a startup can support global expansion or should focus on mastering one jurisdiction first.
• Advice for Fintech Founders: Marek stressed the importance of building a strong team, securing adequate funding, and having a bold vision. Founders should be prepared to adapt as they scale their businesses, balancing technological advancements, regulatory challenges, and resource management.

Watch the full panel discussion here:

Impact’24 showcased PayU GPO’s unwavering commitment to innovation and leadership in the fintech sector. By actively participating in discussions and sharing strategic insights, PayU GPO demonstrated its pivotal role in shaping the future of financial technology, fostering financial inclusion, and driving digital transformation in emerging markets. We extend our heartfelt gratitude to the dedicated PayU GPO team whose efforts made our presence at Impact’24 impactful. We also thank the Impact’24 organizers for hosting such a transformative and inspiring event. Together, we are advancing the fintech frontier.