Banking 4.0 Summer School – first day. “It was so dense and exciting, I didn’t even have time to check the American stock exchange all day.”

Banking40 Summer School is the place where forward-thinking professionals from fintech, banking, insurance, regulation, and technology come together in the historic and inspirational setting of the Palace Hotel in Sinaia to engage in a dynamic program of courses, case studies, and applied debates, all focused on shaping the future of financial services.

This first edition debuted on June 10, with presentations held by Eliad Saporta – How to launch/embed a payment product in the current ecosystem – from licensing and compliance to user experience and crypto integration, Mirela Paunescu – Basic finance for non-finance staff, and Andres Lehtmets – Financial Data Access (FIDA), open finance & insurance, business models.

With over a decade in the payment industry, Eliad Saporta has helped fintech and eCommerce startups launch fast and scale smart. At Banking 4.0 Summer School, Eliad brings both insight and candor to the table. “There are 20 new payment service providers launched every month. But how many of them really have a business case?”

In a world full of hype and quick setups, Eliad challenges participants to ask the hard questions:
– Why are you launching?
– What’s your margin?
– And what happens after the first merchant friend sends traffic?

A perfect start to a week of clarity, strategy, and bold thinking.

Mirela Paunescu holds an extensive portfolio of both national and international professional qualifications in the field of financial reporting, including ACCA, CIA, CAFR, CCF, and CECCAR. Her credentials are further complemented by a strong academic background, comprising a PhD in Accounting from ASE Bucharest.
At Banking 4.0 Summer School, she’ll share her expertise in financial reporting and accounting.

During her class, Mirela managed to turn what many thought would be “just numbers and rules” into an engaging and eye-opening experience. By the end of the session, even the skeptics in the room had dropped their initial doubts. Turns out, accounting and financial reporting can be fun — when it’s taught with clarity, passion, and purpose.

Andres Lehtmets is an ex-regulator with 15+ years in insurance, FinTech, and digital finance. Now bridging the gap between innovation and regulation as an independent advisor to regulators and industry leaders worldwide. Financial Data Access (FIDA) regulation and open finance are now among the hottest topics on the EU regulatory agenda, and it can enable several interesting and innovative use cases. 

At Banking 4.0 Summer School, Andres reminded us that the upcoming FIDA regulation is not just about open finance — it’s about permissioned finance. Under FIDA, access to financial data will no longer be theoretical or symbolic. It will be standardized, real-time and permission-based.

Consumers stay in control. No more vague consents or endless PDF exports. Each data point will have its destination, and each recipient will need explicit permission.

This is Europe’s move from open banking to trusted, programmable data ecosystems. Not just access — but access with purpose and permission. Permission is the new currency.

„I aimed to bust some of the myths around FIDA, explore different business model opportunities, and, most importantly, provide participants with practical tools and frameworks to think ahead, apply it to their own context, and see opportunities beyond regulation. Because regulation often acts as an enabler. It was a lively dialogue, with many pointed and relevant questions—exactly what I enjoy in executive education.” – said Andres.

Over dinner last night, one participant gave us the best possible feedback: “It was so dense and exciting, I didn’t even have time to check the American stock exchange all day.”

„That’s the energy at Banking40 Summer School. Non-stop insights, deep dives, and the kind of conversations that make you forget the market — because you’re too busy thinking about the future of finance.” – said Nic Balaceanu, the Program Director of the Summer School.