The payments industry is going through tremendous change. Legislations such as PSD2, the entry of third-party payment providers and rapidly evolving technologies in the world of banking are changing the way banks operate and the way society deals with money.
As a result, banks are forced to change their traditional business models, as they are no longer a guarantee for success. Banks are entering unknown territory, collaborating with fintechs and competing against bigtechs. Where are these innovations heading?
During Sibos 2019, we will publish blogs based on the latest insights and recent developments. Subscribe to our newsletter and we will keep you up-to-date during Sibos.
blog article | 23 september 2019
SIBOS 2019 day 1: New challenges due to Open Banking and the benefits of Instant Payments
The first day of Sibos showed that stakeholders in the market have embraced the importance of APIs.
APIs play a crucial role in enabling customer data to third parties in the age of Open Banking. This means that APIs are no longer seen as a difficult technical matter, but as a crucial building block for the future.
‘The SPL scheme could be seen as a possible building block towards the development of pan-European payment solutions’
In this blog Christophe Godefroi, Senior Expert Standards and New Developments at the European Payments Council (EPC), talks about where we stand with the SPL scheme and what the value of this scheme is.
‘Development of instant payments is supporting a progressive integration of European payment structures’
The impact of PSD2 and Open Banking is not yet as striking as Jean Clavel expected years ago. “Impact at scale is taking more time than we thought”, says the Managing Director & Partner of The Boston Consulting Group (BCG) about new developments driven by PSD2.
During Sibos, we will report on numerous sessions and panel discussions, in order to share the latest insights with everyone who's interested in what's happening at Sibos. You can receive these reports - straight from London - automatically by subscribing to our online newsletter.
Sibos 2018 took place in Sydney between 22 & 25 October 2018. We created a special series of Sibos-related blogs around the topics Instant Payments, Open Banking and Future developments based on presentations and panel discussions that took place during Sibos 2018.