This Sibos 2020 ‘Delivering digital value‘ stream will address the opportunities and risks from the payments sector – where innovation is making real-time transactions flexible, frictionless, predictable, transparent and secure. In this respect, we – as a frontrunner and now the largest processor of Instant Payments in Europe – see a lot of developments that will impact the payments business.
Take for instance ‘Request to Pay’ (RtP), which is gaining momentum thanks to open banking and PSD2. Unlike direct debits, RtPs are real-time and also suitable for one-off payments, making them a safe, fast, highly efficient and convenient alternative for the current solutions. The RtP service consists of a messaging section and a payment section. Even though there is no standard for messages via the bank’s infrastructure yet, equensWorldline can already facilitate the messaging service thanks to a strategic partnership. In our view, as developments move forward, RtP solutions could be one of the payment solutions in the Open Banking era to compete with existing payments.
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Welcome to our special Sibos 2020 page. Like previous years, we will create a special series of Sibos-related blogs, based on presentations from industry leaders and online sessions during this prominent, annual and (this year) fully online event for the financial industry.
Interested in what happened last year?
Sibos 2020 theme: Driving the evolution of smart finance
Sibos’ theme in 2020 is ‘driving the evolution of smart finance’. This year’s programme includes high-quality sessions exploring how the financial industry can make better decisions and run smarter businesses, while optimising technology and data. The sessions are focused on the core theme and four interconnected daily sub-themes – 1) delivering digital value, 2) responsible innovation, 3) the future of finance, and 4) banking for humanity.
Being a leading provider of payments and transactional services across Europe and beyond, we recognise the importance of these themes as they also play a leading role in the way we support our clients and their customers in the dynamic world of payments. By anticipating future developments we help them to adapt to emerging trends in the industry, adopt new technologies, handle challenges regarding increasing customer requirements and make the most of opportunities that are lying ahead.
During Sibos 2020, this ‘Responsible innovation‘ stream will explore how the industry can maintain a balanced approach to innovation that allows fresh ideas to flourish, while protecting against downside risks.
The world of banking is unrecognisable from a decade ago, and this market disruption and transformation are likely to accelerate. Banks have a wealth of opportunity on the horizon, but an equal volume of challenges to get there. Legacy systems have no long-term viability – they cannot deliver the experience that customers expect, since they present a high cost and time to innovate.
Digital platforms will enable banks to move up the value chain and offer customer experiences that are more than just transactional. This will become increasingly critical as the banking landscape continues to evolve – banks will need agility and the ability to customise, adapt and extend their reach in response to market change and customer demand. Open Banking, instant payments, increasing disintermediation and emerging technologies will continue to push the boundaries of banking and the big challenge for incumbents will be how to innovate and adapt to remain relevant. We are geared to support our clients in this transformation while ensuring compliance and security.
Bridging human and digital experiences in finance
The traditional role of banking is disappearing, as consumer lifestyles, new technologies and new forms of competition continue to influence the sector. There is still work to do to improve digital experiences and reduce the gap between the rapid evolution of consumption habits and the slower evolution of banking. We are geared to support our clients in this transformation.Download whitepaper
The importance of trusted interactions
Meeting customer expectations in digital services is a major challenge for financial institutions today. In a time of exponential growth of messaging, customers continue to expect a personalized and fast response for each request. Customer engagement and trust are key. How can these customer expectations be met by institutions despite the decreasing availability of resources?Read more
Check out these recent blogs
We recently published a series of interesting blogs that provide insight in digital banking dilemma’s. The 1st blog is about improving the customers’ banking experience. The 2nd blog demonstrates how artificial intelligence helps to close the gap between traditional banking and fintech companies . And the 3rd blog explains how financial institutions can navigate between automatisation and trust.Read more
The Sibos 2020 ‘The future of finance’ stream will examine the industry’s role in wider society, addressing global issues such as inequality, pandemics and climate change, which are driving the future of the industry. Is today’s financial industry fit for purpose? Will more agile and technologically fluid challengers overtake traditional banking systems and market infrastructures?
Take for instance the COVID-19 pandemic, which had – and still has – a huge social and economic impact. Besides the immediate impact, like a shift towards more contactless payments, we also see shifts in for instance social values and changes to supply chains, which are emerging more slowly.
The world after COVID-19
Within the Worldline Group we are currently working with our clients to understand the lasting impacts of the crisis for their businesses and help find new and valuable ways of harnessing the full power of all of today’s most promising technologies, to ensure success in the current and post-COVID era. This whitepaper explains how these trends will unfold in the coming years, in order to help business leaders start planning for their future today.Download whitepaper
A better ecosystem for payments
EDPIA, the European Digital Payments Industry Alliance, aims to help create a better payments ecosystem, to increase international competitiveness over the long term and to support the EU’s objective to create a Digital Single Market, fuelled by digital payments. As an EDPIA member, Worldline is particularly committed to managing the changes in digital payments accelerated by COVID-19.Read blog
Our CSR commitments
The fourth and last Sibos 2020 stream, ‘Banking for humanity’, will examine the role of the finance industry in supporting clients’ transition to a low-carbon and sustainable economy. It will also explore the role of digital technology in developing financial services that change lives and workspaces.
At Worldline and equensWorldline we fully acknowledge the importance of this topic and have made strong CSR commitments. Our TRUST 2020 program is our roadmap to drive transformation throughout the company.
We translated five key objectives into action plans to build long-term trust with our stakeholders, which are in line with our commitment to contribute to the United Nations Sustainable Development Goals (SDGs) to be achieved by 2030.
Digital payments for a trusted world
We focus on building customers’ trust with reliable, secure, innovative and sustainable solutions. By leveraging our expertise we help our clients with important but challenging topics in the area of risk management, compliance and data protection. In addition, we endorse our business ethics via our value chain, ensure integrity and undertake social initiatives to give back to our communities. And last but not least, we do our utmost to leverage the eco-efficiency of our data centres and offices.Read Integrated Report 2019