Fintan Byrne is the Chief Executive Officer of CR2, a company that provides digital, self-service, and payments solutions to banks and financial services organisations. He is also a member of the company’s board of directors. Previously Fintan was General Manager for Europe for Mastercard Payment Gateway Services.
1. How do you see banking software developing over the next 3 – 5 years?
Covid-19 has triggered a faster adoption of digital processes than ever seen before and this pace is likely to continue. Within the banking industry, the pandemic has forced banks around the world to rethink how they deliver banking services to support the changes in consumer demand and develop new routes to connect with their customers.
Customers demand products that are specific to their needs, their habits, and their budget at a specific moment in their lives. This is driving technology innovations within the banks. In the future, we will see more banks leveraging technology to offer personalized products based on predicted behaviour or need of the individual. For example, recommendations for specific loans, pre-empting a payday loan, etc. are contextual banking services that fit that person’s lifestyle and spending habits, which can be achieved via artificial intelligence (AI). Being able to analyse people’s demographics, spend profiles, and understand if that person would be receptive to new offers will be key.
Customers are also demanding a frictionless experience and want to bank wherever, whenever. Hyper automation can enhance customer experience and eliminate the pain points that create friction in digital interactions as banking customers onboard, transact and engage with their bank.
2. In which sectors and regions is your company focusing?
CR2 focuses on helping banks accelerate their digital transformation by providing a breadth of digital banking and payments capabilities that enable them to onboard, transact and engage with customers and remain relevant in the face of increasing market disruption. We help to remove the barriers to financial inclusion and increase access to banking services, providing financial empowerment for all in society. We specifically target retail banks in the Middle East, Africa, and Asia regions, including new digital bank entrants.
3. What are your hobbies?
I enjoy a range of hobbies including cycling, reading, walking and philosophy.
4. What is your favourite book?
My favourite book is Stoner by John Williams. I felt this was a brilliantly written book that told a simple story, I was hooked from the first page. It is one of those books that is remembered long after finishing.
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