Mastercard: Athens Innovation Forum 2024 – Innovating the Future Together

Mastercard’s annual Athens Innovation Forum, this year entitled ‘Innovating the Future Together,’ recently gave audiences the opportunity to hear inspiring speeches and discussions where leading institutional representatives, distinguished executives from banking and technology, as well as senior executives from Mastercard, presented and exchanged views on the innovative developments and key issues shaping the future of payments and technology.

The event took place at the Stavros Niarchos Foundation Cultural Center in Athens, Greece on Thursday, 17 October.

This year's Forum highlighted the dynamic change underway in the payments ecosystem, focusing on the latest innovations in banking and the digital economy. Among the central topics discussed were the integration of artificial intelligence in financial services, the e-commerce revolution, as well as technologies that enhance the security and resilience of payments.  The topics of viability and sustainability also played a leading role, with technological developments pointing the way to a greener future for payments.

The round of speeches was opened by Greece’s Minister for National Economy and Finance, Kostis Hatzidakis, who in his brief greeting referred to the positive developments of the current year in the field of the economy and the financial sector, placing particular emphasis on the government's systematic effort to spread of electronic transactions.

Greece’s Minister for National Economy and Finance, Kostis Hatzidakis and Panagiotis Polydoros, Country Manager for Greece, Cyprus, and Malta at Mastercard

Hatzidakis announced that the same policy will continue to further strengthen electronic payments, among other actions to strengthen the banking and financial system. "The expansion of card payments is an important step forward for our economy, acting as a critical tool to address economic pathologies such as tax evasion," he said.

The baton passed on to Panagiotis Polydoros, Country Manager for Greece, Cyprus, and Malta at Mastercard and who set the tone of the event, underlining the importance of innovation for the further development of the payments ecosystem and the banking sector.

Panagiotis Polydoros

Starting with a review of the significant developments in the field of transactions so far, Polydoros then focused on the goals for 2025, among which he noted the penetration of business-to-business transactions and the further upgrading of the user experience and security in the e-commerce environment.

When it came to Greece’s banking sector, the event was attended by top executives of four of the country’s systemic banks, Iakovos Giannaklis, Deputy CEO, Retail and Digital at Eurobank, Vassilis Koutentakis, Executive General Manager, Retail Banking & Distribution Networks at Piraeus Bank, Stefanos N. Mytilinaios, Chief Operating Officer at Alpha Bank and Ernestos Panayiotou, General Manager and Member of the Executive Committee for Transformation, Strategy & International Activities at National Bank of Greece.

The panel was moderated by Panagiotis Polydoros and the discussion revolved around the challenges and developments in the banking sector in Greece, with an emphasis on the cost of banking services and the new regulatory framework around micro -transactions. Also discussed was the rapid evolution of the payments ecosystem with initiatives such as the digital euro and the rise of artificial intelligence.

Natalia Lechmanova, Mastercard’s Chief Economist, Europe was next on stage. During her address, Lechmanova analysed the state of the Greek economy, and the growth recorded after the pandemic. At the same time, she shared impressive data on the labour market in Greece, Cyprus, and Malta as well as on the consumer habits in the above markets.

The section of the Forum dedicated to sustainable technology opened with an address by Peter Bakenecker, Mastercard’s Division President, Central Europe. His speech focused on the importance of financial literacy in everyday life, while during the fireside chat that followed with the participation of Philip List, Managing Director of Erste Social Finance Holding, the discussion highlighted the importance of financial education. The discussion analysed the example of the Erste Financial Life Park (FLiP) in Vienna in enhancing financial knowledge, especially for young people.

Next, Robrecht Vandormael, Secretary General of Payments Europe, shared the results of the pan-European True Value survey with the audience.

His speech focused on the rapid evolution of the payment landscape in Greece and how it stems from technological developments and the changing preferences of merchants and consumers.

The Cashless Initiative Foundation was brought into focus in a speech by Joana Sánchez Klosinska, Mastercard’s Vice President of Public Policy. Using the successful example of Poland, she referred to the challenges faced by local businesses in accepting digital payments. Through her speech, she highlighted the ways in which the Cashless Foundation initiative has brought about impressive results in the rates of digital payments at small and medium enterprises in just five years.

The sustainability section of this year's Forum was closed by Dr. Bertrand Piccard, Founder and Chairman of the Solar Impulse Foundation. Dr. Piccard shared his personal story and inspired the audience to dare to think innovatively and achieve what most may consider impossible.

The closing section of the Forum was dedicated to innovation and applications shaping the modern environment of banking and transactions. The audience welcomed Nima Sepasy, Mastercard’s Senior Vice President, Innovation, Product & Engineering to the stage. Sepasy focused on AI developments and trends in banking and retail, giving exciting personal examples of how the technology has developed.

Next was a fireside chat dedicated to cyber security with the participation of Michail Bletsas , the Govenor of Greece’s National Cyber Security Authority, and Steve Brown, Mastercard’s Vice President, Cyber Security & Resilience, Europe.

The Athens Innovation Forum 2024 closed with three stories dedicated to the innovation of the future:

First on stage were Arne Pache, Senior Vice President, Customer Solutions Center, Central Europe, Mastercard, Patrik Hanzlík, Rollout Key Account Manager, Škoda X and Uli Kiendl , the CEO of ryd,  who spoke about the technological solutions offered by in- car payments.

Davids Klemm , Vice President , Retail & Commerce , Central Europe,  Mastercard and Frederica Mouritz, Director, Business Development, Central Europe, Mastercard, followed, sharing information about Mastercard’s Biometrics Checkout Program, a ground-breaking technology framework that sets new standards on how to pay, allowing cardholders to use biometric identification methods such as palm, face or iris scanning.

The unit ended with a speech by Mark Perryman, Director, Business Development, UK&I Customer Solutions Center, Mastercard, and who addressed the environmental crisis by presenting the innovative Mastercard Send solution, which is already helping to reduce packaging waste, contributing to a more sustainable future for the environment.

Panagiotis Polydoros, Mastercard 's Country Manager for Greece, Cyprus and Malta, commented, "We are extremely proud that the Mastercard Innovation Forum has established itself as a leading point of reference in the payments and innovation industry in Greece. With this year's central theme of innovation and how we can shape its future together, the Forum highlighted the latest challenges and opportunities in the payments and banking ecosystem. Mastercard plays a leading role in these developments, contributing decisively through the global ecosystem it has developed. The presence of leading speakers from various industries offered new perspectives, underscoring the importance of working together to develop sustainable and secure solutions, thus shaping the economy of the future."