Sibos 2017 is upon us, and whilst there is so much content on offer at the biggest conference in banking this year, there are a number of sessions delegates simply cannot afford to miss. Here are our highlights of Day 1.
The first Sibos 2017 presentation in Conference Room 1 is one that is assured to be well attended, as the panellists will attempt to get to grips with perhaps the most pertinent question for global financial services incumbents.
In every area of business digital native disruptors have changed the face of the industry in the past decade, and financial services is no exception. So how will banking institutions that are traditionally slow to adopt new technology react to a flood of digital natives with their eyes firmly set on transforming financial services?
With fintechs and challenger banks taking aim at the market share of traditional banking services, how can the incumbents stave off competition from more agile businesses that are intent on delivering a better UX?
Will the commoditization of banking result in traditional financial institutions becoming nothing more than open platforms for fintechs creating apps and API technology that will drive the industry forward?
The panel examining the possibility that the future of the current banking giants is to provide underlying infrastructure for nimbler service providers includes Frantz Teissedre, Head of Interbank Relationships at Société Générale, Tom Eck, CTO IBM Industry Platforms at IBM, Alexander Bazarov, Senior Vice President, Co-Head Sberbank CIB, Member of the Executive Board, Sberbank, and Petra Hielkema, Division Director of Payments and Market Infrastructure at De Nederlansche Bank.
Thomas A. Olsen, Partner at Bain & Company, will be the session’s moderator.
Mon Oct 16 9.30am, Conference Room 1
Cybersecurity: Trends and implications in financial services
For delegates not enticed by the future of traditional banking discussion, a separate panel will be tackling one the most critical issues affecting financial institutions in the innediate future.
Chris Thompson, Senior Managing Director, Accenture Finance & Risk, Global Financial Services Cyber Risk & Resilience Lead at Accenture, Greg Wolfond, Founder of SecureKey Technologies, Abeer Khedr, CISO of the National Bank of Egypt, and Lester Owens, Global Head of Wholesale Banking Operations and Corporate & Investment Bank Client Onboarding at J.P.Morgan will examine the trends and developments that have altered the cybercrime landscape in the past 12 months.
Undoubtedly cybersecurity is a primary concern for financial institutions today, and with criminals being able adapt their strategies so quickly it is vital that financial have their fingers on the pulse of the latest trends to hit industry.
Mon Oct 16 9.30am, Conference Room 2
The future of transaction banking – Moving into the digital age
The session looks at the issue currently plaguing cross-border payments through correspondent banking. Without a viable alternative, and a system that is overly costly and complicated, should this be replaced by a new global payments system, and if so what would this look like and what would be needed to launch it?
Different technologies upon which this new system could possibly be based that will be discussed including distributed ledger technology, one of the major buzzwords of 2017 that will be heavily featured throughout Sibos 2017.
Ruth Wandhöfer, Managing Director and Global Head of Regulatory & Market Strategy at Citi, and Barbara Casu, Professor of Banking & Finance at Cass Business School, City, University of London, will examine research focused on the applicability of blockchain for global transaction banking, and provide insight on where this area of research can develop further.
Mon Oct 15 10am, SWIFT Institute
Helping your clients manage changes in the payments industry
With the payments industry currently in flux, financial services are looking for experts to turn to in order to navigate through the changing landscape.
The session will focus on how to help guide clients through the challenges and opportunities an increasingly complex payments ecosystem presents. This includes finding new ways of transacting with clients, vendors, and other third parties to achieve the benefits on offer for those who can foresee the payments systems of the future.
Edmund Esch, Managing Director, Head of Strategy & Product Management for High vlue Payments—Direct Clearing and USD-ACH at BNY Mellon, Tomas Moberg, Senior Industry Expert, Nordea Bank, Shane Marsh, Head of Financial Institutions Transaction Banking for Australia, NZ & Pacific, ANZ Banking Group Ltd, and Barry Tooker, Offering Manager at IBM, will lead this session.
Mon Oct 16 12.30pm, Conference Room 4
Cybersecurity and digitisation: The art of securing the digital enterprise
Financial services are continuing to pursue digitisation goals, in order to align themselves closer with their customers and offer better customer services than their competitors.
However, this evolution is dependent on the collection of customer data, which is only possible once a level of trust is developed between customers and banks’ online banking facilities.
In this session, James Kaplan, Principal at McKinsey & Company will moderate a discussion examining the issues an enterprise’s cybersecurity team will need to face in order to develop a relationship with a target customer market.
Other members of the discussion include Michelle Howard, an Admiral in the U.S. Navy,
J.P.Morgan Global CISO Rohan Amin, Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank, and Pablos Holman, who describes himself as a hacker, inventor, entrepreneur and technology futurist at Intellectual Ventures.
Mon Oct 16 2pm, Plenary Room