Money20/20 2024: Three Key Takeaways That Will Shape Fideo’s Future

Last month, I had the privilege of attending Money20/20 USA in Las Vegas alongside our CEO, Chris Harrison, and Senior Principal Fraud Consultant, Jeanie Armstrong. As the world’s premier gathering for the global money ecosystem, this year’s event exceeded all expectations, proving to be the most productive conference I’ve ever attended.

Before diving into my key takeaways, I want to thank Keith Brannan from Tria Prima for making crucial connections and orchestrating several pivotal meetings for Fideo. Your support was invaluable.

Top 3 Takeaways

1. The Rise of Synthetic Data in Fraud Prevention

The most striking revelation was the emerging prominence of synthetic data in our space. We discovered entire companies dedicated to creating datasets specifically for training fraud prevention systems. This aligns perfectly with Fideo’s focus on dynamic data linking and pattern recognition, particularly in our pre-KYC approach.

2. Validating Our Approach: Dynamic Data Resonates

Our conversations at Money20/20 confirmed a critical market insight: the industry is moving beyond static identity verification methods. Attendees repeatedly expressed frustration with traditional approaches that rely solely on government IDs and documents, validating Fideo’s dynamic data strategy. This market feedback reinforces our position that maintaining a live, evolving understanding of identity signals is crucial for businesses to stay ahead of emerging fraud patterns while reducing friction for legitimate users.

3. Collaboration Takes Center Stage

Money20/20 has masterfully reimagined the conference format. Instead of traditional keynote-centric events, they’ve created an environment prioritizing meaningful connections. With a football field-sized meeting space and multiple simultaneous presentations, podcasts, and panel discussions, our team conducted over 30 productive meetings. This format allowed us to showcase Fideo’s unique value proposition in fraud prevention, especially our differentiated approach based on pre-KYC, patterns, and value.

Looking Ahead

Money20/20 validated our strategic direction and revealed an urgent market need for dynamic identity verification solutions. The enthusiastic response to our dynamic linking capabilities and continuous learning approach confirmed we’re uniquely positioned to address the evolving challenges in financial fraud prevention.

Financial institutions actively seek alternatives to static verification methods, and our platform resonated strongly with this demand. The timing is particularly advantageous – as platforms and financial institutions accelerate their digital transformation initiatives, our ability to provide dynamic, adaptive identity intelligence positions us as a crucial enabler of their success.

We’re now focused on executing a rapid scaling strategy through platform partnerships and strategic integrations. This approach will allow us to efficiently capture market share while continuing to advance our technological edge in continuous learning and dynamic data analysis. With clear product-market fit and strong demand signals, we’re well-positioned to expand our presence across the financial services sector.

Preparation 

Leading up to a conference of 18,000 attendees can be daunting to prepare for! Some questions I found myself asking were:

• Which companies should I talk with?
• Why might they be good to meet with?
• Do they have products or features that could use our data?
• Who has data or features that I could use for my products?
• Who are the right stakeholders to reach out to?

I found myself using one of the fastest growing technologies to support my needs. Using the full list of attendees, I broke it down into a spreadsheet, filtered by roles (Product, Engineer, CTO, etc.) and used AI to guide me in which companies would best fit my needs and why. I prompted it with my mission, product capabilities, and then the list of companies that matched. The AI provided me with a nice summary of each company and why or why not they would be a good fit. From there, it became a quick but manual process of screening each suggestion to ensure it matched, followed by scheduling time on the floor with these stakeholders. It was not 100% perfect as we had a few misses on alignment in our meetings, but by and large it was the key to our level of preparedness so that we could have very productive conversations with key stakeholders.

This isn’t just about participating in the future of financial security—we’re helping architect it. Our next phase of growth will focus on turning this market validation into expanded partnerships and accelerated adoption of our dynamic identity intelligence platform. 

Connect with us to learn more about Fideo’s capabilities.