With hyper-connectivity becoming the new norm, banking APIs are expected to proliferate rapidly enabling an ecosystem of banks, corporates and FinTechs to combine services. Reach, standardisation and security remain the key problems to solve in an API-connected environment. Let’s take a closer look at how the industry is evolving and how APIs will support a new way of communication.
When replacing mission-critical software such as a financial messaging system, banks need to face migration challenges and solve new problems to adhere to the changing landscape. In this session we will zoom in on the ups and downs an AMH customer had on their journey of replacing their messaging systems by AMH. What are the pitfalls and what can we learn from them? What opportunities brought additional value? How did the bank join forces with SWIFT Professional Services?
At the convergence of data analytics and user experience, the personalisation of financial services is a key challenge faced by banks looking to deliver superior digital services to their customers.
Financial institutions in emerging markets are introducing innovative solutions faster than their peers in more developed markets. Advances in FinTech make it easier, quicker and cheaper for them to accurately assess customer behaviour, needs and risks, thereby opening the door to new business models. Asia Pacific’s booming e-commerce and vast migration of middle-classes are giving rise to new financial services products to meet demand for coverage and risk appetite – digital inclusion has now outpaced and effectively substituted financial inclusion.
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.
The World Economic Forum has put cyber-security and fraud as top threats for the entire world. The sophistication of threat actors is increasing at a seemingly exponential rate, massive data breaches are almost common place and we are reaching cyber security scenarios where everything can be used as a weapon, and anybody could be a target. But are we still waiting for the ‘big-one’, the seismic ‘cyber 9/11’ event that changes everything?
Stimulated by technological growth and new entrants, the world of international payments is experiencing considerable pressure for change. Transactions across borders have to be faster and simpler. Platforms to send transactions have to be more open, compliant and secure than ever. Even the market providers themselves are no longer bank dominated, with FinTechs and players from outside of the financial sector creating disruption both good and bad.
SWIFT is building a new Cloud platform to enhance its offering for customers looking for a fully managed interface and connectivity to SWIFT. Don’t miss our session which will include a sneak preview of the new graphical interface with fully re-designed screens for a best-in-class user experience.
Join us for a sneak peek into the collaborative API design process at SWIFT. In this session, SWIFT’s experts will demonstrate how to leverage standard API collaboration tools integrated with ISO 20022 data repositories to enable testing in an API sandbox
Don’t miss the e-learning train, jump on it now! Discover how to enable your teams to learn anytime and anywhere with SWIFTSmart
Among the many trendy Sibos topics we see block-chain, DLT, cyber-security, APIs, real-time payments, etc. But do you know how well these new technologies and concepts are understood across your organisation?