Deluxe Exchange 2018 (DX18) in Boca Raton last month was packed with exclusive, thought-provoking content, innovative solutions to industry issues, and dialogue that helped attendees navigate their day-to-day priorities and long-term business transformations.
DX18 brought together leading industry experts as well as treasury management, marketing, and retail executives responsible for market growth. It was all about idea exchange and thought leadership. Sessions were specifically focused on current industry issues and pain points — the state of data, cash management, digital marketing strategies, customer engagement, the hype around blockchain, fintech, faster payments, and more.
We’re happy to report that 95 percent of attendees said topics were aligned to issues they were facing and 98 percent said the conference met or exceeded their expectations. And the networking was off the charts.
The keynotes were superb as well. Forbes media chair Steve Forbes, bestselling business author Daniel Pink, Deluxe Financial Services president John Filby, and FOX global markets editor Maria Bartiromo gave compelling presentations.
Couldn’t make it to DX18? We’ve got you covered. Here are some of the highlights from the main stage.
The importance of timing
It’s not so much about “what” as it is about “when,” according to bestselling author Daniel Pink. On the main stage, he talked about his new book, When: The Scientific Secrets of Perfect Timing, saying that the hidden pattern of the day profoundly affects our mood and performance.
Based on whether a person is an early bird or a night owl, their days have a pattern. Early birds have a peak in the morning, a trough in the afternoon, and a recovery at the end of the day. For night owls, it’s the reverse.
What does that mean for business? Be much more deliberate about scheduling individual and teamwork. People should perform analytic tasks during their peak, do administrative tasks (things they don’t really have to think about) during their trough, and do insight tasks during recovery.
Another point: Productivity is directly related to taking breaks.
“We have this idea that when you’re tired or when productivity wanes, you need to power through,” Pink said. “Research shows that couldn’t be further from the truth. Nothing is better for our productivity than taking short, truly detached breaks.”
Deluxe Financial Services president John Filby kicked off the conference with some thoughts about the rapidly evolving landscape in the financial industry. Some of his key points:
Partnerships will be key. Homegrown is going out of fashion, he said. Companies are turning to partners for almost everything. This helps trends, technology and innovation advance more quickly. Product life cycles quicken, as does adoption.
He called it “technology externalization,” partnering with outside companies for tech answers and solutions.
“This change is industry-wide, it’s global and it’s here to stay,” Filby said.
Some trends Filby sees in tech externalization:
- Open banking: He noted that 99 of 100 major banks are making major investments in open banking.
- Disrupters: The banking industry is getting disrupted but it’s not the only one. The entire world is getting Uberized, Filby said. Blockchain is just one example. Not all of them will last, but their impact on the user experience will.
Growth and partnerships
- One company, multiple business models. Take a lesson from Amazon, which is taking this concept to the highest level. They started as an online bookseller, morphed into an online retailer, then to brick-and-mortar retail, to banking, to health care, then on to world domination.
- A new era in partnership. Partners don’t have to come from your industry segment. Businesses should find complementary talent, even in unlikely places: Ford and Domino’s Pizza, for example.
- Sometimes you must move when you’re not ready. None of us arrives fully formed, Forbes said. Don’t hesitate to jump in when you don’t have everything perfectly ready.
Predictions for 2018
She predicts businesses will invest in more growth, mergers and acquisitions, and in employees in 2018.
And about the AI tsunami?
“Anything that can be done by a machine will be,” Bartiromo said.
For more information about DX18, including specifics about breakout sessions and hot topics, visit us here. And save the date for next year! DX19 will take place Feb. 4-6, 2019, in Miami.