Banking Technology October 2016 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
A note from our Editor, Tanya Andreasyan:
Sibos 2016 in Geneva is over, we can all breathe a sigh of relief… and start getting ready for Sibos 2017 in Toronto. As always, Banking Technology will be there in force bringing you our flagship Daily News at Sibos publication in print and online, reporting on breaking news, sourcing amusing photos and making Sibos TV appearances.
In the meantime, if you missed this year’s conference or want to relive it, take a look at our Sibos section online. Videos, photos and written word about all major subjects are there in abundance (and free).
The top themes of this year’s Sibos were nothing unexpected: cybersecurity (Swift was calling on banks to be more open about hacks and threats, but did not mention the Bank of Bangladesh heist once – ah, the irony), regulation, digitalisation, fintech disruptors, innovation and, of course, blockchain.
Practically every major exhibitor at the event felt it was their duty to make an announcement about blockchain – with the majority touting proofs-of-concept or pilots. Would the industry be stuck in “pilotville”, mused Brian Behlendorf, executive director of the Hyperledger Project. He had a good point as there was a lot of talk about blockchain at last year’s Sibos in Singapore and surely people will want to see some real action soon.
A high-profile blockchain software provider (and Sibos exhibitor) Ripple was stirring up a bit of trouble – posting critical tweets and commentary denouncing Swift’s new Global Payments Innovation Initiative (GPII).
“GPII will continue to mandate its 140-character message for payment instructions; that much has not changed,” Ripple stated. “Unfortunately, important data such as invoices are not permitted. The existing flaws caused by the serial process are not addressed. Swift has not actually innovated the core of this messaging system; GPII is an iteration of exactly what Swift provides today with a marginal increase in speed for availability of funds.”
And yet, in less than a year since its inception, 80 correspondent banks have signed to GPII. An introductory session on the initiative in the Swift auditorium at Sibos was standing room only – an indication of the interest GPII has generated.
Brexit made an appearance at Sibos too, an unavoidable subject really. A rather grim (but accurate) observation was made by Eurofi’s chairman, David Wright, at the financial stability plenary session: “There are nine circles of hell in Dante’s Divine Comedy. We are just at circle one Brexit – Limbo.” Eight more to go…
The October 2016 edition of Banking Technology features:
The industry going blockchain bonkers.
How challengers are changing banking experience (and not just theory but in practice).
Helping financial institutions cross the next frontier of innovation.
Interview: Kyle Ferguson, CEO of Fraedom
Tapping into the $110 trillion B2B market opportunity.
Point of view
Bank and fintech collaboration is futile without a major cultural shift.
A call to develop voluntary standards, to ensure blockchain tech is fit for purpose and fulfils its purpose.
Challenger bank: CSBA
A UK-wide network of local banks supporting local communities.
Analysis: artificial intelligence
AI finding new uses in financial services.
Case study: Consorsbank
The high stakes of a high performing banking app.
And not to forget the Regulars of course:
Appointments – the movers and the shakers.
Comment – outspoken and opinionated. Let’s all get together? Not likely – mobile payments are still a far, far away dream!
Industry events – mark your calendars!
Out of office – curiosities, frustrations and mishaps of the fintech world. Caught on camera at Sibos 2016 in Geneva.
Click here to read the digital edition of Banking Technology October 2016