IBS Journal August 2016
35
attract –Ed.]. A specific private banking event, relevant to our location this year, is planned for Wednesday
New conference format
The overarching theme at Sibos 2016 is ‘Transforming the Landscape’. “I think it’s clear where the transformation is coming from – FS is going through drastic changes on all fronts – whether it’s customer expectations, regulation or technology,” says Bossu.
There is some internal transformation at the show as well with the conference at Sibos being reformulated this year into four main streams – Banking, Compliance, Culture and Securities. According to Bossu this was due to feedback that found the structure had become too complex, with 12 forums last year from treasury to operational technology and on so on, making it difficult to properly plan an agenda. “We decided to simplify the conference format, run it tightly from 9am-5pm, and hope that this will enhance the customer experience.”
afternoon, 28th July, in the Swiss Lounge.”
Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, the central bank, will give the opening plenary on Monday at 11:30am-12:30pm. “We also have Sergio Ermotti, Group CEO of UBS, among our local speakers at the show, as well as Bertrand Piccard as the closing speaker. He was the first to complete a non- stop balloon flight around the globe and is currently flying a solar-power airplane around the world,” says Bossu, adding there will be several representatives from other Swiss financial institutions. “We’re currently finalising the speaker list.”
“In addition, there will be the exhibitors to see and the Innotribe collection of startup companies and technologists. The innovation-focused programme, defined by Peter Van der Auwura for Innotribe, will touch on four key elements – technological disruption; organisation; man-machine relationships, including artificial intelligence, machine learning and so on; and platforms, such as how to build a community, real-time demands and so on. Innotribe will take place on the exhibition floor in a specifically designed environment – calling it a conference room would not do it justice – and the speakers are real thought-leaders in their specific innovation domains.”
Standards discussions, corporate treasury sessions and other traditional elements of Sibos will remain, but housed within the over-arching four main conference streams.
Cyber security
A crucial topic at Sibos 2016 will be cyber security after the infamous $81 million hack against Bangladesh’s central bank earlier this year, using SWIFT codes and numerous other multimillion hacks that since have come to light against Vietnam’s Tien Phong Bank and Ecuador’s Banco del Austro. This prompted SWIFT’s CEO, Gottfried Leibbrandt, to warn in June that banks with inadequate cyber defences could find themselves booted off the organisation’s payment network.
SWIFT has since engaged security firms BAE Systems and Fox-IT to help it investigate weaknesses in its members’ cyber arrangements and created a dedicated Customer Security Programme and Intelligence team, in order to strengthen connectivity and the software and security arrangements for accessing its network. SWIFT maintains its core is secure, but any lessening of trust in its network is a grave systemic threat to its future and to the established way of transferring funds globally – as such it’ll be a crucial topic in Geneva.
www.ibsintelligence.com
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