Big Ideas 2024: The Rise of the Developer as a Buyer in Financial Services with Angela Strange | Summary and Q&A

TL;DR

Developers are becoming influential buyers in the financial services industry, leading to better products and user experiences.

Key Insights

• 😮 The rise of developers as buyers in financial services favors fintech companies with a strong developer experience focus.
• 🤗 Open-source solutions and developer sandboxes are being utilized to engage developers and improve product architectures.
• 🤗 Generative AI and regulatory shifts, like open banking, are additional factors driving the involvement of developers in financial services infrastructure.
• ❓ The shift towards developers as buyers challenges the notion of irreplacable legacy software in financial institutions.
• 👨‍💼 Better infrastructure enables the creation of improved consumer and business experiences in financial services.
• 😘 Low-cost financial services infrastructure can enable access for underserved populations.
• 🤗 Open-source libraries and collaboration among developers lead to better product functionality and user experiences.

Transcript

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Questions & Answers

Q: How are developers becoming influential in the financial services industry?

Developers are now playing a crucial role in financial services purchasing decisions, with more influence in driving product experiences and revenue generation.

Q: How can fintech companies benefit from the rise of the developer as a buyer?

Fintech companies that prioritize a great developer experience can leverage this trend to gain a competitive advantage and attract developers from larger financial institutions.

Q: What are some examples of financial services infrastructure products that developers are influencing?

Payments systems, like those provided by fintech companies, are a prime example of products that developers are influencing through their input in building seamless user experiences.

Q: How does the shift towards developers as buyers impact the way financial services products are built and sold?

This shift drives a product-first mindset in financial services, prompting the building of better user experiences and composable architecture that allows for more efficient integration of financial services into software platforms.

Summary & Key Takeaways

• Developers are increasingly influencing purchasing decisions in financial services, alongside traditional economic and business buyers.

• Fintech companies that prioritize a great developer experience will have an advantage in this changing landscape.

• Open-source solutions and developer sandboxes are being used to engage developers and improve product architectures.