On January 29th, on the first day of the 2019 edition of the Paris Fintech Forum, which took place at the Palais Brongniart at the heart of Paris, Laurent Nizri welcomed Ann Cairns (Executive Vice Chairman at Mastercard) for an exclusive interview. The Fintech experts notably discussed the digitalization of services and financial inclusion.

"The world is a super connected place," first explained Ann Cairns, before stating that Mastercard currently helps public and private entities in the development of Smart Cities and transportation systems, making everything "contactless", so that people can start using new services in the easiest ways possible and don't have to deal with cash and change anymore.

"Also, we need to include everyone, all over the world," she added. According to the Executive Vice Chairman, from a consumer point of view, the digital ID is the driver. She also highlighted the fact that tools are more and more sophisticated and notably shared the example of voice recognition, which could be a game changer in several industries, especially in finance. "Governments know that digital identities are the key, yet, these must not be hacked and require a strong cybersecurity approach. We strongly believe that digital is THE source of inclusion and have therefore concluded several partnerships with governments and local players," added Ann Cairns.

The Fintech experts also tackled the topic of Blockchain and more specifically its impact on supply chain management: "a small shop keeper with an automated supply chain could send data to banks who could more easily lend money. These shop keepers could then order more goods to sell and meet the demands of his/her clients. We have been working on similar projects in Africa and have noticed that it increases the flow by 20% in the shop. Here's another example of how technology can drive inclusion".

Finally, on the fact that less than 10% of Fintechs are currently led by women, Ann Cairns said: "I want the women of the future to be able to grow in a world where there are opportunities for them to succeed and do what they want to do. In this respect, Mastercard is committed to working with girls all around the world. We are also sharing the idea that it's 'cool' to be in the tech industry".

 

Alexandre Keilmann

Photo: Steven Reti