Simon Paris - A Visionary Approach to the Future of Banking Artwork

The CX Iconoclast

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The CX Iconoclast

Simon Paris - A Visionary Approach to the Future of Banking

May 20, 2024 • OCX Cognition

Join Richard Owen as he delves into a dynamic discussion with Simon Paris, the visionary CEO of Finastra, a leading force in global enterprise software solutions tailored for the financial sector. Here’s a summary of their engaging conversation:

Empowering Banking Evolution

Finastra, a powerhouse in enterprise software, caters primarily to banks and related entities worldwide. With a robust suite covering lending, payments, treasury, capital markets, and retail and digital banking, they serve clients across 130+ countries. Boasting an impressive workforce of 8,000 and nearing $2 billion in revenue, Finastra stands as a beacon of innovation in Europe's software landscape.

Open Finance Unveiled

Simon unveils the concept of open finance, urging a shift from product-centric to customer-centric financial services. Through an evocative anecdote, he champions the idea of unbundling banking services and reconstructing them around individual customer journeys, fostering a more personalized and impactful approach.

Generative AI Revolution

With palpable enthusiasm, Simon discusses the transformative potential of generative AI in financial services. From enterprise optimization to engineering marvels and enhanced customer experiences, he outlines a myriad of applications while acknowledging the looming specter of deep fakes and its implications.

Financial Inclusion Imperative

Simon underscores the importance of extending financial services to the unbanked and underbanked, viewing it as a cornerstone of open finance. By tackling poverty, fraud, violence, and tax evasion, he envisions a world where financial services unlock the potential of individuals, businesses, and communities worldwide.

A Vision for Tomorrow's Finance

In Simon's vision, the purpose of financial services transcends mere transactions, aiming to unleash the full potential of humanity. By embracing innovation, scalability, and security, he envisions a future where financial empowerment is synonymous with societal progress, creating a world where doing good and thriving go hand in hand.

Simon Paris is Chief Executive Officer of Finastra and leads their strategic direction and growth, championing open finance and industry-wide collaboration. He chairs the World Trade Board, advocates for financial inclusion, and serves on the Board of Directors for Everbridge and Thomson Reuters. With over 25 years of global leadership experience, Simon joined Finastra in 2015, became CEO in 2018, and has been recognized as a top fintech CEO and advocate for diversity and inclusion

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Richard Owen

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