- 10 - 13 October 2022
The Asian Banker is excited and proud to be the official media partner of SIBOS 2022 in Amsterdam, Netherlands, the first physical SWIFT annual conference since 2019. We trust you will enjoy the SWIFT and transaction banking dedicated content, including daily event updates, that we have put together for you.
Digital innovation underpins industry’s resilience amid current turbulence and success in the future
In the first in-person SIBOS since the outbreak of COVID, SWIFT members gathered in Amsterdam to discuss digital innovation and progressive finance in an environment of increasing uncertainty and risk.After an absence of almost three years, the SWIFT community was back to meeting in-person at SIBOS 2022 in Amsterdam, the Netherlands. Many had looked forward to finally being able to meet face-to-face at this year’s annual SWIFT banking conference. More than 10,000 bankers and delegates were in attendance at the hybrid event, albeit those onsite kept hectic schedules at the over 190 exhibition booths, catching up and getting down to business with clients and peers that they have not met physically since the start of COVID.
2020-2021 Asia Pacific Leaders in Financial Institutions and Transaction Finance Directory
The directory recognises leading practitioners in financial institutions who are shaping the transaction finance business on the regional and global fronts. The Asian Banker identifies, recognises, and tracks these practitioners on an ongoing basis through its List of Leading Practitioners (LLP) programme. It also profiles international and domestic institutions active in the transaction finance business, and captures key product and service capabilities. It also contains features, commentaries, and analyses that summarise the most pressing issues that the industry and key stakeholders face.
The Great Transition
The Personalization of Finance is Here
This book outlines the transition that the finance industry will go through from its platform stage today into what Emmanuel Daniel calls the “Personalization of Finance”. He uses the story of the ice trade to describe a level of personalization never seen before. It will have a profound effect on how institutions, markets, and societies will need to function in the network age.
He uses the story of the ice trade to describe a level of personalization never seen before. It will have a profound effect on how institutions, markets, and societies will need to function in the network age. He introduces the term "financialization of everything" to describe how digitization will transform entire economies, enhance their receptivity towards cryptocurrencies and blockchain, and how new trends such as gaming will shape the personalization of society. This book is especially useful for founders, disruptors and policy makers in finance looking for original ideas on finance, economics, and society shaping the industry today.
Financial inclusion is a lie
Financial inclusion goes beyond just having a bank account, said Emmanuel Daniel, founder and chairman of Wealth and Society, to Robert Rubinstein, chairman of TBLI Group. Daniel said governments also should promote financial literacy and facilitate access to digital assets.
Financial inclusion is a cornerstone of economic development, yet how the industry ascertains its success is often less exacting than what the numbers suggest.
Seventy-six percent of adults now have a bank or mobile account, according to a 2021 World Bank report, compared with 51% a decade earlier; that would seem like a conclusive win to many pro-inclusion advocates. Not so, said Emmanuel Daniel, founder and chairman of Wealth and Society.Read More
The Transaction Finance Working Group
The Transaction Finance Working Group is a membership-based research programme for decision-makers in the transaction and corporate banking industry.
As your corporate and business customers navigate the complexities of the post pandemic "new normal", it is now more important than ever to learn sustainable and innovative strategies and be able to foresee the future roadmap of your peer transaction banks, as you complete for the customers' wallet share across cash and treasury management, trade and supply chain finance, and payment services.
Kai Fehr, Standard Chartered Bank
So good to meet Kai Fehr, Standard Chartered Bank , who enthuses about how trade platforms and marketplaces are transforming supply chain finance for clients and partners.
Emmanuel Daniel signing copies of his book at Sibos
Emmanuel Daniel signing copies of his book at Sibos on the personalization of finance, The Great Transition a must read for bankers and financial services intermediaries who do not want to be disintermediated.
Philip Panaino, Standard Chartered Bank
Philip Panaino, Standard Chartered Bank, global head of cash management discusses the challenges and opportunities in payment digitalisation and innovation. How the industry could have struggled now had COVID not accelerated digitalisation, and the resulting transformation in business and operating model has enhanced customer payment journey and uncovered new value in the face of changing economic conditions and market cycles.
Radha Pillay, SmartStream Technologies
Radha Pillay, SmartStream Technologies discusses the evolution around the business needs of financial services clients especially as their customers adapt to new and remote ways of working. Movement to cloud-based solutions and new technology solutions using AI and big data has accelerated, driven by challenges such as the exponential rise in volumes of transaction processing, reconciliation management and exceptional handling that customers face today.
Travers Clarke-Walker describes Thought Machine
Travers Clarke-Walker describes Thought Machine involvement in the implementation of digital-only bank schemes and adoption of digital finance in the progressive markets of Asia Pacific that have witnessed exponential growth in the recent months.
Nicolas Cailly, Societe Generale
Nicolas Cailly, Societe Generale discusses the rapidly changing and deteriorating global business and macroeconomic conditions with rising inflation, interest rates and geopolitical tensions, the focus remains on managing risks, utilising available credit and supporting a sustainable balance sheet expansion.
Enno-Burghard Weitzel, Surecomp
Enno-Burghard Weitzel, Surecomp talks about the newly launched RIVO API-enabled trade platform that seeks to empower corporates, financial institutions and other parties involve in the end-to-end trade facilitation process to communicate and collaborate digitally, including the automated updating of ESG data, to improve data quality and operational efficiency.
Faisal Ameen, Bank of America
"Resiliency before efficiency". Engaging clients to ensure continuity of their supply chains, supporting suppliers to access financing by using rich data and analytics, are the priorities of Faisal Ameen, Bank of America, in the current period of turbulence.
Samir Pandiri, Broadridge
Samir Pandiri, Broadridge, discusses the opportunities around technology transformation, innovation and platform integration as forces to digitise ecosystems globally.
Silvia Mensdorff-Pouilly, FIS
Silvia Mensdorff-Pouilly, FIS explains the importance of industry collaboration and adaptation to enhance payment efficiency, standard harmonisation and accelerate financial inclusion.
Vinay Mendonca, HSBC
Vinay Mendonca, HSBC, describes the progress achieved in scaling trade digitisation and the improvement in speed and quality of service.
Parv Aggarwal, WadzPay
Parv Aggarwal, WadzPay, explains its mission to seamlessly integrate payments between the physical/fiat currency world and the metaverse via cryptocurrencies, digital tokens and CBDCs, on its DLT/blockchain-based Atlytica payment engine.
Mick Fennell, Temenos
Mick Fennell, Temenos, summarises key payment trends catalysed by COVID disruptions; the rapid acceleration towards contactless and digital or straight through payment processing, the implementation of scalable and resilient cloud-based infrastructure and new payment rails, especially instant account-based payments; the enhanced orchestration, integration and use of data facilitated by open finance and APIs, and finally, a greater appetite amongst banks and payment providers to select and integrate consumable applications and services into their cloud infrastructures.
Leslie Bailey, LexisNexis Risk Solutions
Leslie Bailey, LexisNexis Risk Solutions, observes the shift to digital transactions as the most important financial crime compliance trigger that financial institutions are dealing with now; leveraging technology to identify customers, understanding their transacting business and delivering what they need. From a customer experience and risk compliance perspective, the speed at which financial institutions have to keep up with changes in the regulatory environment, particularly in sanction compliance.
Hari Janakiraman, ANZ
Hari Janakiraman, ANZ, shares the three distinct but interlinked areas he and his team are working on to futureproof the bank; emerging payment technologies and how they can be leveraged to create platforms/ecosystems; digital assets, tokens, CBDCs, to bridge opportunities Web 3.0, CeFi and DeFi So; rich data and advanced analytics to create and deliver hyper-personalisation and effect risk management.
Carl Wegner, Contour
Carl Wegner, Contour, shares it’s not so much the technology but value-propositions leveraging existing legal frameworks and networks that will drive the utilisation of consortium-led trade finance solutions in the future
Barry Rodrigues, Finastra
Barry Rodrigues, Finastra, discusses how consumers’ and corporates’ access to financial services through multiple channels in addition to banks’ own channels is driving evolution in Banking as a Service.
Richard Harmon and Arvind Swami, Red Hat
Richard Harmon and Arvind Swami, Red Hat, discuss the technology journey that financial institutions (FIs) must make to serve the increasing transactional needs of their customers. The exponential rise in volumes of transactions have underscored the need for FIs to modernise their legacy applications and infrastructure. Besides technology, alignment of organisational culture, right skill set, people and processes will enable infrastructure modernisation
Winnie Chen, BNY Mellon,
Winnie Chen, BNY Mellon, talks about how the bank has been strengthening the regional team to improve advice, support and solutions for institutional clients amid the rapidly changing environment.
Georg Schneider, Digital Asset
Georg Schneider, head of financial engineering at Digital Asset, spoke about the difficulties in creating and digitising assets into tokens, and how Digital Asset is able to make this process easier for their clients.
Sibos Round Up
Modernising payment infrastructure as digital volumes surge
Against a backdrop of legacy technology challenges and surging real-time payment volumes, the pressure for the industry to collectively upgrade the existing...
Digital innovation underpins industry’s resilience amid…
In the first in-person SIBOS since the outbreak of COVID, SWIFT members gathered in Amsterdam to discuss digital innovation and progressive finance in…
Top 10 takeaways from SWIFT at SIBOS 2022
The future of cross-border transactions took centre stage on the SWIFT programme at SIBOS 2022. Here are its top 10 takeaways.