IBS Journal August 2016


41


Bank of America Merrill Lynch, Stand D30 Matthew Leavenworth, Head of Global Transaction Services Strategy and Innovation


Banks and corporates face an increasingly complex and fragmented marketplace driven by globalisation, digital delivery and entrepreneurship. This challenge creates the need to develop more valued and flexible working capital solutions. Banks and FinTech each bring complementary parts of desired solutions to the table – banks based on scale, reach and regulatory expertise; and FinTech based on ingenuity, flexibility and speed. This represents an enormous opportunity to learn fast and potentially fail fast by cooperating and competing with FinTech whilst sharing the risks. Key is that we as banks need to partner with both our clients and FinTechs to innovate new solutions whilst simultaneously addressing internal (and industry) inertia to do so rapidly and repeatedly. Addressing this challenge is key. Join our 9am session on Thursday 29th September, to hear the debate.


FIS, Stand E28 Barry Rhodes – SVP Open Payments, Enterprise product Organisation


Sibos will be a very interesting event this year with the worlds of banking and payments converging around the topics of mobile, open access, real- time and contextual data. In that remit payments modernisation is a prerequisite for most banks as is


end-to-end testing. FIS’ Open Payment Framework, its new FAST solution and open test solutions will likely have significant airtime during the event. Our 2016 Flavours of Fast report shows not only a steep increase in instant payment initiatives but also rapidly growing consumer appetite for immediate payment services. Over the past year China experienced a 30-fold increase in volume and a 90-fold increase in value of real-time payments. These numbers are hard for banks to ignore and will drive the debate around the demand for ‘always-on’ innovative payment solutions.


SmartStream, Stand D58 Haytham Kaddoura, CEO


The drive towards cost mutualisation and financial utilities has largely been driven by banks’ need to recover their margins and address incoming regulatory requirements. We have participated in a number of major strategic initiatives in this area. For example, the SmartStream Reference Data Utility (RDU) was launched in partnership with Tier 1 banks and global exchanges. We believe this is the future of the industry and will continue to build utilities through collaboration. The possibilities are limitless, with a range of deployment options across the entire middle- and back office. During Sibos, we will be having conversations with our customers about how agility provides the ability to create and respond to today’s disruptive marketplace.


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