Disruption in the payments landscape

CL2_PL 2018-10-24T11:00:00.000Z

roomCode
CL2_PL
Room
Plenary Room
Date
-
John Mair
Bureau Chief
Reuters
Leila Fourie
Chief Executive Officer
Australian Payments Network
Ulku Rowe
Technical Director, Financial Services
Google
Esther George
President and Chief Executive Officer
Federal Reserve Bank of Kansas City
Michael  Spiegel
Global Head of Cash Management
Deutsche Bank

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.