In 2019, Sibos recognised that organisations are facing new challenges constraining their ambitions, including a changing competitive landscape, unpredictable geo-political pressures, increasing regulation and technological change, and fast-moving information security threats. Successful businesses are those that cultivate connections through a combination of humans and machines, with data serving as the lifeblood that drives growth, informs decisions and strengthens connections. Ultimately they will thrive in a hyper-connected world.
Enhancing digital ecosystems
Sibos 2019 had five sub-themes, the first of which was ‘enhancing digital ecosystems’, examining how banks and market infrastructures can leverage new technologies such as APIs, DLT and AI to offer better banking services to meet customer demands. It looked at how banks use external fintech partners to overcome legacy business models while minimising risks.
The conference also explored how the industry is leveraging data to uncover new connections, enhance efficiencies and improve customer service and value. It explored how organisations manage data challenges and take advantage of opportunities to harness information sources on a scalable and secure basis.
Keep ahead of cybersecurity threats
The third sub-theme examined how organisations keep ahead of cybersecurity threats. It covered how firms of all sizes can tap into peer-to-peer sharing of information and best practice to respond to security risks across multiple channels.
Adapting to shifting geopolitical and regulatory priorities
The conference also assessed how financial services providers are adapting to shifting geopolitical and regulatory priorities in the digital age. It considered how organisations ensure their business models have the flexibility to account for unpredictable geopolitical dynamics and the changing practices of regulators, including greater use of compliance technology.