Disruption in the payments landscape
New capabilities such as artificial intelligence, distributed ledger technology, APIs and instant payments are transforming the financial landscape. Other factors including the regulatory drive for open banking and consumer demand for real-time payments has led to the rise of FinTechs and new players in the industry, causing disruption in the once relatively unchanged payments sector. Unhindered by legacy systems and regulatory oversight, these new entrants have so far been more adept at harnessing these new technologies than the current payments market incumbents. But, are things about to change? Banks may face the challenge of agility, but history has proven that security, interoperability and standardisation are key to longevity. In this session payment industry leaders who have embraced these new technologies and introduced innovative payment schemes in their domestic markets, will explain the strategic role they hope to play in shaping and developing a more secure, efficient, transparent and frictionless payments landscape.