Future developments

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? Read the latest insights straight from Sibos 2018 here.

How Instant Payments can make Europe a leader in innovation

By Tom Nijenhuis

Exciting times are approaching for the ECB now that the pan-European infrastructure TARGET Instant Payment Settlement (TIPS) is going live next month. This platform enables banks to initiate immediate payments 24 hours a day, 365 days per year. 
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SIBOS Wrap-up – Key themes of 2019 identified

By Tom Nijenhuis

Looking back, Sibos was an outstanding event where collaboration between banks and fintechs was encouraged, the importance of data was regularly highlighted, the shift from B2C to corporate banking was frequently discussed, the customer experience was underlined as crucial and the necessary change of banks was repeatedly mentioned.
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More hot reports from Sibos? Read all our Sibos-related blogs

We focused on Instant Payments, Open Banking and Future Developments and  published 'live' reports on numerous sessions that took place during Sibos 2018. 

Darwin already knew: agility is key for survival, also for banks

By Tom Nijenhuis

Charles Darwin predicted the fate of banks years ago, when he talked about the theory of biological evolution: “It is not the strongest species that survive, nor the most intelligent. It is the ones that are most adaptable to change.” That also applies to banks, was the message during our Open Theatre Session on the 2nd day of Sibos.
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Through Payment Platform Transformation

Presentation by Thomas Feiler, Head of Payments Product Management at equensWorldline.

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The importance of customer experience for the future of banks

By Tom Nijenhuis

It is impossible to know what banks will look like in ten years' time. The question whether the current banks will all still exist in a decennium is even justified. More than half of the visitors of the session The bank of Tomorrow on the second day of Sibos expect that only 40 to 60 percent of all banks will survive the technological and social developments. A quarter of them think that eighty percent of the banks will still exist in ten years' time.
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"Why are there no European companies competing in the battle for global payment solutions?"

By Michael Steinbach

Europe is largely dependent on non-European systems, such as PayPal, for cross-border (card) payments. In the development of new payment services, this must change, says Yves Mersch, member of the Executive Board of the European Central Bank (ECB). 
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‘Going digital is not the goal, it’s just a tool’

By Paul Jennekens

Mobile first has been the philosophy of BNP Paribas, one of the largest banks in the eurozone, for two years now. Not that strange, because the number of French customers that visit the bank only via their smartphone has risen explosively in the past four years. 
Marc Campi, Digital Marketing Director at BNP talks about their digital strategy for the coming year.
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Never a dull moment in the world of payments

By Tom Nijenhuis

About 7.000 decision makers and topic experts that work in the financial services industry have travelled across the globe to visit Sibos. On the first day it became clear that nobody really knows exactly what that future of payments will look like. This was  explained by ANZ Banking Group's CEO Shayne Elliott in a plenary session.
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How will we pay? Welcome to the payments revolution

The whitepaper 'How will we pay?' provides authoritative analysis on the future role of cash, cards and new forms of digital payment such as instant payments. The publication considers the impact from changes in regulation and technology disruption in the industry and aims to guide readers to the opportunities and solutions available to the financial services sector and merchants.
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