FastPay joined thousands of entrepreneurs, senior investors, and leading executives last week at the Montgomery Summit to discuss business strategy, market positioning, and innovations in the tech landscape. During this exclusive two-day event, panels and discussions ranged from the advancements in AI to the future of venture capital, with a featured presentation by FastPay’s President and COO, Secil Baysal.
“It was an honor to speak at this year’s summit alongside industry leaders from around the world. It’s not every day you have the opportunity for candid conversations about the challenges and opportunities fintech businesses face today,” said Secil.
In his 20-minute panel, Secil took a deep dive into the world of media and finance to discuss the investments in consumer-facing technology and their implications on back-end developments. While the rapid growth in technology has led to some amazing innovations, if you take a closer look at what’s happening behind the curtain you’ll discover outdated software and back-end technology that is impacting the consumer experience.
“We’ve seen digital transformation throughout the media industry in forms of AR/VR, yet AP departments are still running off of checks and payment terms ranging from 120 days up to 155 days. We can send something to the moon quicker than we can send a payment through ACH or check,” said Secil.
Those in the media industry can all relate to this challenge but it’s an important reminder that technology shouldn’t always be taken at face value, and the Montgomery Summit was just the place for this discussion. Check out a recap from Macquarie here.