Latest Sibos News: Finextra Research

Finextra TV/Sibos

The State of Open Banking Across the World

Jess Turner, EVP, Global Head of Open Banking and API, Mastercard, speaks to FinextraTV on the week of Sibos, where she dove into the role AI plays in financial services, including open banking. Market maturity for open banking varies in different regions, but it is becoming increasingly evident that interconnectivity can support with global scale and allow users to leverage their own data for their own benefit. AI, used responsibly, plays a key role in advancing and securing the open banking ecosystem by enriching and anonymizing consumer-permissioned data so that consumers and small businesses can share with confidence.

18 November 2024

Finextra TV/Sibos

Latest Developments in Real Time Payments: Innovation and Interoperability

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Peter Reynolds, Executive Vice President Real Time Payments, Mastercard, highlights how 2024 has welcomed a new era with 100 countries now with live real time payments systems, covering 87% of the world’s GDP. Exploring the substantial growth across account-to-account payments and the conversion of cash to digital payments, the interview examines how the financial ecosystem is opening with digital wallet payments, QR Code acceptance and the promise of interoperability.

24 October 2024

Finextra TV/Sibos

Tokenisation use cases to be excited about

At Sibos 2024, Angie Walker, Global Head of Banking and Capital Markets, Chainlink Labs, explored the topics of blockchain and tokenisation and how they are transforming the existing world as well as how the technology creates opportunities for the future. While historically, across money market and fixed income funds, high quality liquid assets have not been able to be moved, with tokenisation, these funds can be migrated seamlessly and instantaneously on the ledger. By liberating assets to be used for other functions in trading operations, the world is a trader’s oyster and future developments in ESG instruments, structured finance, and infrastructure also opens up a way to create commercial assets and verify sequestration with smart contracts and data oracles, ensuring the integrity of the asset, cross chain interoperability and keep the asset in sync throughout it’s life journey.

24 October 2024

Finextra TV/Sibos

How Can AI and Collaboration Combat Rising Financial Crime?

In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers. Companies are stepping up their investments in cybersecurity and AI technology to stay ahead of evolving threats, as AI-powered tools like real-time fraud detection solutions become critical in preventing financial crime. Quevedo emphasises a three-pronged strategy: leveraging AI for fraud prevention, collaborating across industries to share insights, and educating consumers on emerging scams.

23 October 2024

Finextra TV/Sibos

How Will New Technologies Shape the Future of Payments?

In an interview with FinextraTV in the lead-up to Sibos 2024, Pilar Fragalà, Chief Commercial Officer of CBI, explores the impact of digital technologies and regulations on payment services. Highlighting the role of AI, APIs, and blockchain in enhancing security and speed, while PSD2 and PSD3 drive open banking and consumer protection, the discussion focuses on innovations like embedded finance and instant payments that offer transparency and flexibility. Addressing growing fraud risks, the interview examines how technology can prevent fraudulent transactions by verifying IBAN and beneficiary details in real time.

23 October 2024

Finextra TV/Sibos

Why Cross Border Real Time Payments are the Next Big Thing

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Ainsley Ward, Vice President Payments Solutions, CGI, explores the topic of instant mandates and the implementation of Verification of Payee (VoP) across Europe. Cross border real time payments as a concept presents a new era of opportunity for the financial services industry because infrastructure is at a point where it can support this form of money movement and nearing the end of the ISO 20022 rollout in November 2025, mandates are ensuring payments are instant across the SEPA inclusion zone. It is evident that change is afoot and that is not stopping any time soon; while the payment environment changes, traditional networks like Swift, Visa and Mastercard will have to fall in line to allow the blossoming of these new real time schemes.

22 October 2024

Finextra TV/Sibos

Chainlink Unveils New Privacy and Interoperability Solutions for Blockchain Adoption

At Sibos 2024, Sergey Nazarov, Co-Founder of Chainlink, highlighted the growing adoption of blockchain technology by asset managers, driven by efficiency gains in settlement, payments, and collateral management. Nazarov announced the launch of two key privacy-focused tools: the Blockchain Privacy Manager and CCIP Private Transactions, designed to ensure secure, private transactions across multiple blockchains. He also emphasised the importance of interoperability, introducing Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which aims to enable seamless asset and system integration in the evolving digital assets landscape.

22 October 2024

Finextra TV/Sibos

Why Corporate Treasurers are Focused on Real Time Treasury

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Rachel Whelan, Managing Director, APAC MEA Head of Corporate Cash Management and Global Head of Payments and TFX Product Management at Deutsche Bank, comments on the four key drivers that are encouraging corporate treasurers to leverage real time treasury and the impact this change in business model would have on the way in which traditional treasury structures are set up. 2024, a year with elections in multiple countries and numerous geopolitical events, has also seen macro level developments such as the interest environment changing rapidly and high volatility when it comes to cash visibility. Further, risk management remains the biggest requirement for treasuries because it relies on the visibility of data and the movement of funds across the world and technological disruption in the form of AI, open banking and APIs will increase the speed of change and bolster foundations for the G20 instant payments roadmap to be fulfilled.

21 October 2024

Finextra TV/Sibos

Overcoming Transaction Banks’ Cross-Border Payments Pain Points

In a FinextraTV interview for Sibos 2024, Chad Wallace, Global Head of Commercial Solutions, and Alan Marquard, Global Head of Transfer Solutions at Mastercard, discuss existing pain points for banks in facilitating commercial cross-border payments, including trapped liquidity and high rates of failed payments. As global trade grows, they see opportunities in developing solutions that help banks overcome these issues and transform the experience for their corporate customers.

21 October 2024

Finextra TV/payments

Embracing the Shift: Instant Payments and Infrastructure Transformation

Michael Engel, Managing Director & VP of Banking Software at Diebold Nixdorf, highlights the growing shift from traditional to instant payments, driven by increasing demand for speed and agility in transactions. While methods like SEPA and the digital euro gain momentum, the challenge of integrating these with legacy systems persists. Engel emphasises the importance of affordable, cloud-native, microservices-based platforms to boost scalability and security, especially in e-commerce. Success stories show banks launching new services within weeks, a dramatic improvement from the previous six to nine months. As consumer expectations rise, financial institutions must balance innovation with reliability.

21 October 2024

Finextra TV/crime

Can Financial Institutions Keep Up with the $33 Billion Fraud Surge?

Reflecting on insights from last month’s Visa Payments Forum, Tareq Muhmood, SVP, Value Added Services, Europe, Visa, addresses the dramatic rise in global fraud—from $800 million in the early '90s to $33 billion in 2023. As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through artificial intelligence, this interview underscores the urgency for banks and fintechs to evolve their security strategies. As fraud tactics continue to evolve, partnerships and continuous innovation are now critical for staying ahead of threats while maintaining seamless payment experiences.

15 October 2024

Finextra TV/sustainable

Can Every Product Be Climate Positive?

Richard Peers, founder of Responsible Risk, interviews Erik Stadigh, Co-Founder and CEO of Lune, winner of the EBAday 2024 FinTech Zone award, ahead of Sustainable Finance.Live 2024. They explore how corporate sustainability can be simplified by automating carbon emissions reporting through APIs and hosted solutions. With the goal of making every product and service climate-positive by integrating granular emissions calculations and carbon projects into bank and fintech offerings, we ask: can businesses truly decarbonise efficiently without relying on costly consultants or new tools? As greener decisions are made with minimal effort, the future may see every company becoming a climate company through seamless integration of climate data.

07 October 2024

Finextra TV/payments

Technology, the Catalyst for Banks to Evolve into Competitors

FinextraTV and Gabriela Giannattasio, VP of EMEA, Veritran, tap into how banks should be prioritising streamlining user experiences, enhancing seamless payment systems, making them secure, and ensuring compliance with upcoming regulations all at the same time. In this new age of financial polyamory, individuals and businesses are no longer married to just one bank, and banks should view collaboration as the silver bullet solution to these challenges and actively leverage available opportunities to connect with technology partners.

10 September 2024

Finextra TV/payments

How the Commercial Payments Market is Evolving

At EBAday 2024, Wim Grosemans, Global Head of Product Management Payments and Receivables, BNP Paribas, sets the scene around how the commercial payments market is evolving. From an infrastructure perspective, the interview details how banks should make important moves to implement instant payments, ISO 20022 and cross border payments as regulation dictates, so there is a lot to do on the plumbing within a financial institution for tomorrow's payments. A staggering amount of digitisation is also incoming, which will result in digital payments soaring and with this, an ecommerce boom for B2C customers and B2B customers.

07 August 2024

Finextra TV/Sibos

How digitalisation is shaking up the customer experience

At Sibos 2023, Marcus Sehr, Global Head of Global Treasury Management (GTM) Banks, Wells Fargo, and Joanne Strobel, Head of Corporate & Investment Banking Segments Solutions & Advisory, Wells Fargo GTM, discuss how changing customer demands impact banking strategies and explore the industry methods available to keep up with the shifting landscape.

12 October 2023

Finextra TV/Sibos

Redefining payments with collaborative innovation

At Sibos 2023, Ross Mallace, Executive Vice President, Global Head of SaaS & Partner Ecosystem, Temenos, and Prakash Pattni, Managing Director, Digital Transformation, IBM Cloud for Financial Services, explore the Temenos Payments Hub and IBM Cloud Framework for Financial Services® collaboration, highlighting client benefits and its transformative potential in payments.

12 October 2023

Finextra TV/Sibos

The true cost of compliance

At Sibos 2023, Grayson Clarke, Head of Market Planning and Marketing, LexisNexis® Risk Solutions, presents insights from the recent True Cost of Financial Crime Compliance Study, conducted by Forrester Consulting, on how the evolving financial landscape is being shaped by an intricate network of regulations and sanctions, and the increasing use of AI.

11 October 2023

Finextra TV/Sibos

Insights into Cross-Border Payments

John Hunter, Head of Payments and Transaction Services, Wells Fargo Global Treasury Management, discusses cross-border payments at Sibos 2023, highlighting enhancements in customer experience, ongoing experimentation with new payment models, and the pivotal role of partnerships driving industry transformation.

11 October 2023

Finextra TV/Sibos

Unlocking the value of digital assets

At Sibos 2023, Hanna Zubko, Co-Founder and CEO, IntellectEU, and Kelly Mathieson, Chief Business Development Officer, Digital Asset, discuss the rising demand for interconnected applications, explore emerging fintech opportunities, and highlight the crucial role of system integrators as digital assets become more mainstream, creating new opportunities across financial markets.

05 October 2023

Finextra TV/Sibos

Optimising customer experience through technology and operations

At Sibos 2023, Jason Christensen, GTM Technology, Wells Fargo, and Vanessa Leite, GTM Operations, Wells Fargo, explore aligning technologies like ISO 20022 with operations, and its impact on enhancing client value and operational efficiency.

05 October 2023