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Speaker highlights
Strategic Roundtable: The Future of Payments – Digital, Instant, Profitable?
Joy Macknight (moderator)
Independent Journalist, Editor and Presenter
Tsvetanka Nankova
Global Head of Sales, Institutional Cash & Trade Finance, Deutsche Bank
Michael Reinwald
Head of Financial Institution Group Sales Europe, J.P. Morgan Payments
- The only constant is that the payments industry will become more complex, with more players entering the market – including non-bank players. There will be new rails we will use to settle payments, and new controls that will be specific to certain segments.
- Whether it is B2B or B2C, everyone is keen on real-time payments. Currently there are over 90 real-time payments solutions, so to really stop the friction we need an international payments network.
- Ensuring real-time and instant payments is extremely important, as we’re not only providing an instant payment solution we’re helping clients to manage liquidity.
- For treasurers there is a huge demand to make the user experience easier – AI will be instrumental in getting us there.
Women in Banking and Payments
Kate Pohl (moderator)
Executive Advisor, Projective Group
Lauren Jones,
Chair, ISO TC68 SC2 – Security for Financial Services
Katja Lehr
Managing Director, EMEA Payments and Commerce Solutions, J.P. Morgan Payments
Petia Niederländer
Director, Oesterreichische Nationalbank
Simone Satan
Global Head of Digital Market Management, Treasury Services, BNY
As the payments industry becomes more and more specialized, further opportunities for women are opening up in various areas such as technology, open banking, ESG and regulation. How can banks, consultancies and payment service providers achieve gender parity, diversity and inclusion? In which ways can the industry include more women in decision-making roles? What is the role of mentors and sponsors?
There have been huge changes over the past 20 years, particularly at C-suite level where it is an evolution as opposed to a revolution.
Top tips:
- Support each other
- Make yourself visible
- Bring your authentic self to work
- Connect with your peers in the industry
- Network, network, network
- Go for it!
Challenge Speech: Digital Money, Digital Assets, Digital Identity – the Future of Banking
The rollout of Central Bank Digital Currency (CBDC) will require banks and payment service providers (PSPs) to include it within their infrastructure and product offering, and ensure that safeguards are managed, e.g. controlling maximum stored value.
How to make money? Develop added value services connected to stored value. All agreed that wholesale CBDCs provided clear value in potential use cases.
Digital ID is going to enable innovation, including tokenization, transfer of assets, and bots acting on our behalf to procure and manage our finances and assisting in verification to help reduce fraud. As an industry, it’s imperative we focus on dynamic ID that interacts in real-time with the ID issuer, rather than our current focus on digitization.
Instant payments: banks remain skeptical and currently see higher relative levels of fraud. The key to adoption includes increasing consumer confidence, with banks, fintechs, social media companies and telecoms working together to reduce fraud. This can happen through sharing of data and development of use cases such as refunds and instant cross-border payments.
Tokens, blockchain and CBDCs: it would seem that interoperability across bank private blockchain networks is still holding back use cases. A member of the audience suggested we all need to stop the experiments and work together to develop market-wide solutions.
See you at Sibos in Beijing, October 21-24, 2024
Let’s continue the conversation this October at Sibos 2024. Join thought leaders from around the world for this year’s theme of “connecting the future of finance.”
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