Daniel Flowe, Head of Digital Identity, LSEG Risk Intelligence
Daniel Flowe, Head of Digital Identity at LSEG Risk Intelligence, discussed pressing issues in digital identity and fraud prevention, particularly with the rising sophistication in content generation and fraud techniques. One major challenge is maintaining trust in media used for identity verification, especially as deepfake technology and AI-generated content become more prevalent. With these advancements, traditional content-based identity checks (e.g., selfies, voice recordings, document images) require extra scrutiny, as they may be manipulated or entirely fabricated.
Flowe also addressed inclusivity issues in digital identity systems. Many verification tools have been trained on limited datasets, resulting in bias—often misidentifying individuals based on factors like ethnicity, age, or skin tone. Flowe cited a recent GSA study showing error rates as high as 30-50% for certain demographics in facial recognition tools. To counter this, LSEG partnered with IDVerse, a company committed to a “zero bias” approach, training its algorithms on diverse datasets to enhance inclusivity and fairness in identity verification.
Looking ahead, Flowe is optimistic about digital identity’s future, especially the potential for electronic IDs issued by authoritative sources, such as governments. These could provide a more secure and equitable global identity verification framework, with AI playing a critical role in making identity systems accessible and reliable across demographics.
Mary Kay Bowman, EVP and GM of Payments and Financial Services, BILL
Mary Kay Bowman, EVP and GM of Payments and Financial Services at BILL, shared insights on several key topics from Money20/20, particularly the growing importance of AI and embedded payments. With a background in fintech, she emphasized her commitment to making advanced financial technologies accessible to small businesses, which often lack the resources that larger companies have, like CTOs or compliance teams. Many small business owners want to adopt new technology but face challenges in accessing it, which motivates Bowman to bridge that gap.
Discussing AI’s future in fintech, she noted the importance of tailoring advanced tools to the needs of small businesses, which might not have in-house expertise to handle complex tech. Rather than adopting every new advancement, fintech firms must focus on providing solutions that are both intuitive and contextually relevant for smaller enterprises.
On the topic of payment fraud, Bowman highlighted that fraudsters adapt to new technologies and often target small businesses and individuals who lack advanced security measures. BILL’s goal is to leverage AI and intelligent modeling to prevent fraud and protect small businesses from these emerging threats.
Looking ahead, Bowman’s priorities include translating advanced tech into usable solutions that allow small businesses to focus more on customer engagement rather than back-office tasks. This approach aims to enhance productivity and create smoother B2B interactions, benefiting both small and large businesses in BILL’s ecosystem.
Juliana Berger, Director of Product Management, Intuit
Juliana Berger, Director of Product Management at Intuit, shared her insights on supporting small businesses through advanced payment solutions and leveraging AI at Money20/20. She oversees Intuit’s payments and invoicing, handling transactions and invoicing volumes for millions of customers globally. This experience shapes her focus on addressing critical small business challenges, notably cash flow issues due to delayed payments. She highlighted that about 64% of Intuit’s clients have invoices over 60 days overdue, creating significant financial stress for business owners.
To tackle these cash flow struggles, Intuit provides options like instant funding and credit lines up to $50,000, giving small businesses flexibility to manage delayed payments. Berger also introduced a new AI feature, “customers like X,” which enables merchants to assess customer payment behaviors, potentially guiding decisions around fees or financing options. Additionally, Intuit is working on automating administrative workflows to reduce the burden on small business owners who often spend up to 14 hours weekly managing payments—a major productivity drain. This AI-driven solution aims to simplify invoicing through dictation, email, or photo uploads, freeing up business owners’ time.
Regarding payment risk, Berger praised Intuit’s risk management team, noting their extensive data on customer transactions which drives robust, proprietary risk models. This data-backed approach allows Intuit to make credit decisions that support businesses with minimal risk, setting Intuit apart as a leader in payment solutions for small businesses.
Arnoldo Reyes, General Manager and Head, MoneyGram Business
(The views, thoughts, and opinions expressed are the speaker’s own and do not represent the views, thoughts, and opinions of MoneyGram International, Inc)
Arnoldo Reyes, General Manager and Head of MoneyGram Business, shared insights at Money20/20 about trends in financial regulation, remittances, and blockchain technology. Discussing Dodd-Frank 1033, Reyes emphasized how open banking could democratize financial access and foster competition. By encouraging transparency and choice, the regulation challenges companies to improve customer experience and pricing, ultimately benefitting consumers.
In his session with Mastercard and Felix Pargo, Reyes focused on MoneyGram’s efforts to expand remittances and digital disbursements in Latin America, where remittances significantly support economies. MoneyGram has embraced digital innovation, with over 50% of transactions now digital, and partnerships with platforms like Mercado Pago and Spin in Mexico. Expanding beyond consumer remittances, MoneyGram is also repurposing its infrastructure to facilitate B2B transactions, providing businesses with the same reliable cross-border payment solutions used by individuals.
Additionally, Reyes highlighted MoneyGram’s growing involvement in blockchain and digital assets, partnering with Stellar to create MoneyGram Access, a global on- and off-ramp for fiat and digital currency. With MoneyGram Wallet, users in Brazil, Mexico, and the U.S. can buy, sell, and transfer USDC, benefiting from a dollar-pegged digital asset. Reyes also noted that MoneyGram’s app now offers crypto brokerage, allowing users to buy tokens like Bitcoin. This integration with blockchain is pivotal, as Reyes believes digital assets will play a transformative role in remittances and cross-border transactions in the years ahead.
