At this year's Sibos in Sydney, technology and data were again the two key recurring themes identified as critical to enabling and propelling the future of financial services.

The difference this year was in two areas. Firstly, the intense focus on integrating technology into the business to save costs and generate revenue especially in the area of advanced analytics and artificial intelligence (AI). The second key difference was the concern around global geo-politics – globalism versus nationalism – and its impact on data movement and data access.

These challenges and the takeaways outlined in this paper highlight the need and the sense of urgency to develop a new business architecture for financial services that is flexible, adaptable, open and future proof. The business architecture needs to span all aspects of the organisation across infrastructure, data, process, people, and culture, and it will set the stage for data-driven digital transformation.

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