Open Banking: Australian & International Perspectives

Banks around the world are increasingly connecting with other financial and non-financial services firms in order to provide differentiated products and services. Meanwhile, regulatory initiatives around ‘Open Banking’ and ‘Open APIs’ are giving customers greater access to and control over their banking data – including how their data is used by financial services providers.

The rise of challenger banks in Australia

Technological change and a more pro-competition regulatory regime mean that we will soon see a marked increase in the number of new entrants into the Australian banking sector. These “greenfield” or “challenger” banks often seek restricted banking licences (which came into existence last year after the Government moved to encourage more competition in banking) as a stepping stone to a full license.

CPMI strategy for reducing the risk of wholesale payments fraud related to endpoint security

Recent examples of payments fraud have shown that they can succeed because of weaknesses in security at one endpoint in the ecosystem. While wholesale payments fraud can cause material risks to individual financial institutions, it may also have a broader systemic impact on a payment system, its ecosystem and the broader economy.

Diving deeper in the future of cross-border payments

The international payments landscape is evolving fast – how can incumbent institutions best meet the challenge of adapting to these far-reaching changes? SWIFT and McKinsey have together recently published the white paper ‘The future of cross-border payments - where lies the opportunity?’ exploring just this question. This session is your opportunity to meet its authors as they share the key learnings from their research, as well as hear from two major banks on the adaptations they are making in their organisations.

Global payment innovation challenge: Non STP operations vs Real-Time payments

FINSTAT is a full fledge straight through processing SWIFT message handling platform that will undertake all back office processes required to settle the beneficiary account same day. FINSTAT enables financial institutions achieve an unprecedented STP experience that will empower the banking industry to easily comply with SWIFT gpi without having to alter existing systems.

ISO 20022 Real-time Payments Group (RTPG) update and panel session on RTP initiatives

Description – The RTPG has published usage guidelines for several ISO 20022 messages to promote the development of both domestic and cross-border RTP initiatives. Members of the RTPG Core Group and representatives from local markets will report on how these usage guidelines are being used and how they are providing value in the take-up of RTP. The RTPG will also present a panel of subject matter experts that will focus on industry initiatives which are contributing to the development of the real-time payments ecosystem, in both local and cross-border markets.

Creating super teams to drive innovation in correspondent banking

Correspondent banking is evolving – fast! Innovation in this space is great news for end customers and provides new opportunities for banks to add increased value. The role of technology is huge, but it is only an enabler. How banks affect positive change for themselves and their customers has as much to do with putting in place the right people and processes that make innovation possible. In this session, we’ll discuss how banks need to organise themselves to inspire and launch new ideas, and what it takes to win the war for talent and create super teams in the 21st century.