The future of transaction banking - Moving into the digital age
Until now the main method of transferring money across borders is correspondent banking. This arrangement is complex, slow, costly and non-transparent, but fills the functional gap resulting from the lack of a lobal payment system and a global currency.
Recent developments with the SWIFT GPI initiative show that many of the drawbacks of the current system of correspondent banking can be removed by collaboration and willingness of providers to deliver improved services for end-users. But what will the future look like?
Are we ready to embrace radically different approaches such as blockchain and distributed ledger technologies (DLT) or will incremental technology change move the industry to the next level?
In this session the researchers will share the approach of their current research and some preliminary findings. With the objective of developing the building blocks for a future blueprint for global transaction banking, they will share insights and ideas with delegates in order to move the industry forward.