1. Financial Summit 2019

Discussions, data and digital challenges – MindSphere World e.V. at the Financial Summit

MindSphere World e.V., in collaboration with Bayern LB, Siemens DI and Siemens Financial Services (SFS), recently hosted a Financial Summit. In a series of workshops, participants were given an opportunity to actively contribute their ideas about opportunities, challenges and new business models in the context of digitalization, as well as other topics. They also discussed the contribution that IoT and Industrie 4.0 are making to increased transparency, the evolution of the role of CFO, and how Industrie 4.0 is affecting providers of financial services such as banks and insurance companies.

Throughout the event, the focus was always on the customer experience. This experience should be designed as simply as possible because customers have enormous expectations when it comes to service, speed and digital ease of use in the digital age. This opens up exciting potential: For example, blockchain could soon be used to conduct live transactions. Today, the business models in a bank are already being adapted to meet new customer demands. Increased mobility is making this possible. This general mind shift points to the importance of secure, responsible handling of data – for example in the context of digital twins for entire production facilities, products and processes. Speedy maintenance work? Trying out new business models? It’s all no problem with the new digital possibilities.

The digital transformation is creating enormous challenges for the world, but also many opportunities and business potential that should be realized together. MindSphere World e.V. can play a key role here as a fast-growing, opportunity-oriented partner when it comes to the sharing of ideas and networking. The Financial Summit, with its pioneering ideas and highly productive interpersonal exchanges, has proved this once more.